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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.

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Mark Bassingthwaighte, Risk Manager

Since 1998, Mark Bassingthwaighte, Esq. has been a Risk Manager with ALPS, an attorney’s professional liability insurance carrier. In his tenure with the company, Mr. Bassingthwaighte has conducted over 1200 law firm risk management assessment visits, presented over 600 continuing legal education seminars throughout the United States, and written extensively on risk management, ethics, and technology. Mr. Bassingthwaighte is a member of the State Bar of Montana as well as the American Bar Association where he currently sits on the ABA Center for Professional Responsibility’s Conference Planning Committee. He received his J.D. from Drake University Law School.

word cloud of common words lawyers used to describe their feelings about AI

3 min read

AI in the Legal Industry: How Do Lawyers Feel?

ALPS recently surveyed legal industry professionals to learn more about how solo and small firm lawyers feel about the use of generative AI in the practice of law. We thought it would be fun to share their responses along with a concluding summary...

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Law firm coverage options can vary just like umbrellas! Make sure you choose the prior acts coverages that make sense for your law firm.

2 min read

A Primer on Prior Acts Coverage for the Solo and Small Firm Attorney

What is Prior Acts Coverage? Prior acts coverage (PAC) is a feature of claims-made malpractice insurance policies. Its purpose is to provide...

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a little gift of pro bono work can go a long way

4 min read

Is It Risky to Agree to Do Pro Bono Work?

If you're hesitant to do pro bono work based upon a belief that this type of work is risky, I'm here to say "not necessarily!" To understand why,...

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Attorney moonlighting

3 min read

For Lawyers, Is Moonlighting Worth It?

To take a side job or not to take a side job ... truth be told, the answer to this question is one where reasonable minds can see things differently....

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A glass house as a metaphor for the risk of assisting your client with their Corporate Transparency Act fulfillment obligations

3 min read

Corporate Transparency Act Risks for Solo & Small Firm Attorneys - A Risk Manager’s Perspective

I’m sure this will come as no surprise; but as a risk manager with a law degree who works for a malpractice insurance company, I’m not one who...

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Lawyer relaxing at desk

3 min read

Why You Never Want to Set the Comfort Trap

My experience consulting over the years with thousands of attorneys who practice in firms of all shapes and sizes across the U.S. has taught me that...

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Lawyer greeting a new client.

5 min read

How to Build and Maintain Effective Attorney-Client Relationships

A number of years ago I had an interesting conversation with a lawyer who had missed a statute of limitations filing deadline on a significant...

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Lawyer realizing her firm is failing

5 min read

5 Reasons Solo Firms Fail

While law firms of all shapes and sizes can fail for any number of reasons, in my experience as a risk manager, there are a few reasons that solo law...

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2 min read

Why You Should Never Minimize the Significance of Client Driven Indemnity Provisions

I continue to get the occasional call from a lawyer wanting to know my thoughts about a new business opportunity. It’s a call that often starts out...

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Confused Lawyer

4 min read

How in the World Can You Not Know Who Your Client Is?

From time to time, I get involved in conversations with lawyers who have called in with a question or concern, and as we talk through the situation,...

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