• Larger, midsize law firms, while still relatively small in a world where many firms number in the hundreds - or even thousands - of attorneys, present many of the same risk management challenges as the largest firms . . .

• While many firms with 20-50 attorneys are highly focused on one or two specialized areas of the law, most firms of this size provide a fairly broad range of practice areas for their clients.  Even if a firm maintains a primary focus on a particular practice specialty, the ability to offer wider expertise tends to lessen the likelihood that a client will be forced to go elsewhere to meet other aspects of their legal needs. 
• A firm of this size generally has a level of capital to allow it greater flexibility when designing an insurance program.  The ability to retain a higher level of risk through increased deductibles can reduce the premium, and/or allow for the purchase of higher limits of liability.  Remember, insurance should be purchased to protect against catastrophe, rather than an inconvenience.  
• A number of important issues must be considered.  How are lateral hires to be handled?  Will new attorney be provided with prior acts coverage (sometimes referred to as "career coverage") or will they be offered coverage only from the point at which they join the firm?  How are Of Counsel relationships to be handled?  Is the firm leasing some of its own excess space to other attorneys or firms.  Does the firm have offices in other states, or are such offices planned for the future?  All such arrangements must be looked at from a risk management standpoint.
• Many firms, once they reach this size, tend to have a full time administrator, whose job it is to work on the day-to-day operational aspects of the firm, thus allowing the managing partner or management committee to focus on "big picture" issues.  HR issues also tend to require greater focus, and more and more larger firms are purchasing employment practices liability ("EPL") insurance, as well as implementing formal employment guidelines and employee handbooks.
• Office insurance coverage becomes even more important as the firm invests in larger, more sophisticated technology, along with the high quality furnishings and fine art that many firms feel are needed to project the proper image to their growing client base.

The Bottom Line?

The larger a law firm becomes, the more critical it becomes to establish an ongoing working relationship with an insurance broker who can assist you in all aspects of risk management - not just at policy renewal time, but throughout the year.

At Earhart Leigh Associates, Inc., we have the expertise - and excellent relationships with our underwriters - to ensure that every one of our client law firms receives the individualized attention that they deserve.

Don't settle for anything less!  If you are the managing partner or administrator of a firm with 20 or more attorneys, give us a call today, and let's discuss your particular situation.  All inquiries are held in the strictest confidence, and are without any obligation on your part.