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A Worrying Trend? Legal Malpractice Payouts Soar

Uh oh. Surveyed legal malpractice insurance carriers pointed to sympathetic jurors and aversion to trying cases as possible explanations for an “all-time high” in claims payouts despite similar year-over-year volume. According to data compiled by Ames & Gough, factors such as runaway verdicts and litigation financing have contributed to the rise in settlements. Those factors are among several accounting for a concept most readers are undoubtedly all too familiar with: social inflation, the increase of claims costs beyond the economic inflation so often in the …

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“The Precipice” Podcast Delves Into Rapidly Evolving Cybersecurity Risks

The new, must-listen podcast for all things management and professional liability, “The Precipice,” is back for the second episode of the series. “The Precipice,” hosted by Goldberg Segalla partner Peter J. Biging and presented by the Professional Liability Underwriting Society (PLUS), is a tremendous resource for professionals through in-depth conversations with industry leaders, claims experts, and top attorneys involved in handling management and professional liability claims.

On the second episode of “The Precipice,” Peter is joined by Kelly Geary, managing principal with EPIC Insurance Brokers …

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Does the Statute of Limitations Ever Apply in Legal Malpractice?

That’s the question on the minds of many in the legal malpractice community after a noteworthy decision in Pennsylvania.  

It’s probably reasonable to assume — at least from the defense standpoint — that the success rate of a statute of limitations (SOL) defense to a legal malpractice claim is virtually zero. This may be more so in some jurisdictions, especially those that permit a litigant to pursue tort as well as a breach of contract theory in these scenarios.

A dual theory approach may …

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Legal form concept : Blue pen and a non compete contract on a clipboard. Noncompete contract is an agreement between employee and employer, not to enter into competition in subsequence business effort

Tips on Protecting Trade Secrets after FTC Bans Non-competes

On April 23, the Federal Trade Commission issued its final rule banning non-compete agreements nationwide, with the aim of “protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation.”

The fall of non-competes removes one of the more effective tools businesses have to protect their trade secrets by stopping employees from taking confidential information straight to a competitor. How, then, should companies with intellectual property to protect respond?

First, Sit Tight

This legislation has yet to be tested in …

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Use of AI Results in Attorney Suspension

The practice of law is not one-size-fits-all. For better or worse, attorneys are generally free to conduct their business as they see fit: working from home, in a traditional office, in large firms, solo practitioners, different practice areas, and different tools. We are guided by certain rules, of course, including the obligation to represent clients competently through technological familiarity. For those who had yet to do so before, we shifted to a remote environment during COVID-19, which forced firms to implement immediate work-from-home mandates and …

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Navigate the Complex World of Management & Professional Liability with “The Precipice” Podcast

For professionals concerned about the evolving landscape of management and professional liability, there is a new resource you will not want to miss: “The Precipice” podcast, hosted by Goldberg Segalla Partner Peter J. Biging, and presented by the Professional Liability Underwriting Society (PLUS). “The Precipice” offers in-depth conversations with industry leaders, claims experts, and top lawyers involved in handling management and professional liability claims.

On the first episode of “The Precipice,” Peter explores the management and professional liability challenges unique to modern attorney advertising, with …

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Avoid Sanctions by Reading the Rules and Admitting a Mistake

Read the rules.

Let’s say it again: Read. The. Rules.

On February 16, the U.S. Court of Appeals for the Federal Circuit issued a strong reminder to attorneys about the importance of reading the applicable rules of court and admitting a mistake when given the chance.

In Promptu Systems Corp. v. Comcast Cable Communications, LLC, U.S.C.A Fed Cir. No. 2022-1093, counsel for one of the appellees incorporated by reference in a footnote nearly 2,000 words from a prior brief filed in a related case. …

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Recent Agent Breach of Contract Decisions of Note

As part of Goldberg Segalla’s commitment to client-focused service and ensuring you are kept apprised of the latest rulings and trends that could impact your profession, we would like to call your attention to two recent New York Appellate Division decisions relevant to the issue of insurance broker Errors and Omissions (E&O).

The first matter is an Appellate Division, Second Department decision (Ewart v. Allstate Ins. Co., 2023 BL 477206 (N.Y. App. Div., 2nd Dep’t, Nov. 29, 2023) affirming dismissal of a breach …

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Representation without Representation?

The Pennsylvania Office of Disciplinary Counsel has accused a Philadelphia attorney of initiating a high-profile lawsuit without client authorization.

Reportedly, the attorney filed suit on behalf of the father of a deceased boy who was killed by a Philadelphia police officer. However, according to the Disciplinary Board, counsel was never engaged for that purpose.

In the petition [HERE], the board alleges that counsel never met, nor spoke, with his purported client prior to filing. It is an uncomfortable situation that brings up some …

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ETF digital concept

Brokers Better Be Ready for Bitcoin ETFs

KEY TAKEAWAYS:

  • The U.S. Securities and Exchange Commission (SEC) has approved the first spot Bitcoin ETFs, also known as an exchange-traded product (ETP).
  • With the SEC now permitting spot Bitcoin ETFs, brokers must become deeply familiar with the various cryptocurrencies to minimize the risks.
  • Clients will rely upon brokers to guide them through these uncharted waters, and being prepared is key.

The theory of an Exchange-Traded Fund (ETF) is not novel. An ETF is a bundle of securities you sell or buy through a brokerage firm …

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