Leaving private practice
Leaving private practice, whether taking a leave, retiring or going to work in-house or in government, can raise many questions regarding claims and LAWPRO coverage. These articles and resources will help you understand what coverage will be available to you, what legal work you can continue to do, and how to ensure a smooth transition for yourself and your clients.
Insurance matters: Retired lawyers, estate trustees, judges, in-house counsel, government lawyers and others no longer in private practice: Your exposure to claims never retires. Although you have left private practice, you continue to be liable for professional services that you, or your former partners or associates, provided in the past.
Leaving practice on a high note: At the end of our careers, we aspire to look back with a sense of satisfaction at having made a difference for others. The way in which we bring our legal careers to a close can greatly influence whether or not we succeed in achieving that sense of satisfaction. Taking care to wind up our practices while leaving clients, colleagues and employees better off than when we found them is essential to a satisfying legacy.
Run-Off coverage: The coverage you have after you leave practice: When you leave private practice you are not “off the hook” for any claims that may be made against you. On the contrary, you continue to be liable for the professional services that you, or your former partners or associates, provided in the past. This article explains your coverage options and what work you can continue to do.
Don’t let claims follow you into retirement: While it’s impossible to be certain whether you’ll be “home free” from a claims perspective after you retire, you can take steps to limit the potential for claims to derail your financial plans. This article provides an overview of insurance considerations for lawyers making the transition out of traditional practice.
Taking parental leave? You have options: Planning for parental leave might seem overwhelming when you are thinking about leaving your practice for an extended period, particularly if you’ve never taken leave before. This article answers some of the more frequent questions about your professional liability insurance while on leave.
Employee Departure Checklist: When any employee leaves your firm, regardless of whether they are leaving of their own accord or are being terminated, you need to ensure that your systems are protected. This employee departure checklist will help you systematically review and lock down all a departed employee’s access points.