E&O suits flow in good times and bad: Panel, Business Insurance, ft. Adam Marshall
Adam Marshall, KDV attorney in the Woodbury office, was a co-presenter at the Anderson Kill’s 21st Annual Policyholder Advisor Conference, ‘Maximizing Your Insurance Recovery’ on November 9, 2017 in New York City. He was joined by two other insurance professionals during a session entitled: Professional Liabilities: Everything You Need to Know about Your Professional Liability Insurance. This presentation was designed to teach professionals the ins and outs of their malpractice insurance, including what’s covered and what’s not; mistakes that could cost you your coverage; tricks and traps of the insurance industry; and what to look for when purchasing your coverage.
Rob Lenihan reported on the panel discussion for Business Insurance:
NEW YORK – The state of the economy influences the type malpractice suits filed against professional firms, but errors and omissions insurers can expect claims regardless of economic factors, a panel of experts said Thursday. Adam Marshall, an attorney with Kaufman Dolowich & Voluck L.L.P. in Woodbury, New York, said that he a see strong correlation between the nature of the economy and the nature of legal malpractice claims. He was speaking at the 21st annual Policyholder Advisor Conference held policyholder law firm Anderson Kill P.C. in New York.
“If the economy isn’t so great,” he said, “you see a lot of legal malpractice claims arise from real estate transactions, arise from matrimonial settlements, divorce actions. You also see a lot of personal injury based legal malpractice claims.”
But in a good economy, Mr. Marshall said, “you tend to see more legal malpractice actions arise from commercial disputes, business transactions, more kinds of cases where you get into issues of lost profit damages, lost consumers, lost customers, things of that nature.”