CONFERENCE REPORT: Major Malpractice Claims Rise as Firms Are Overworked

Large malpractice claims against law firms by large corporations have increased exponentially in the last few years, panelists said March 2.

The remarks came in front of a live audience at Hinshaw & Culbertson LLP’s 2022 Legal Malpractice & Risk Management Conference in Chicago.

Moderator Matthew R. Henderson, a partner in Hinshaw’s Chicago office, said $10 million used to be considered a “large” claim but now marks the lower limit of that range. He said 11 professional liability insurers reported that in the last two years nine had participated in claim payouts of greater than $50 million, two had paid ...