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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.

Open hands displaying a small yellow flower, podcast title overlay In Brief Episode 73: The Ethical Obligation of Succession Planning

16 min read

ALPS In Brief - Episode 73: The Ethical Obligation of Succession Planning

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scrabble letters spell

7 min read

Why the Use of an Engagement Letter Should Never Be Considered Optional

Engagement letters seem to be one of those documents most lawyers intellectually appreciate the value of but often underutilize. This letter simply...

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Attorney realizing a misstep has occurred

3 min read

How to Avoid Common Co-Counsel Relationship Missteps

Co-counsel relationships are sometimes formed “on the fly,” meaning no thorough discussion as to who will be responsible for whatever occurs. This...

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Man caught in a trap.

6 min read

How to Avoid Common Conflict of Interest Traps

Particularly in the solo and small firm setting, conflict missteps are often not a “whoops, we missed that name” kind of thing. More often the...

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attorney delivering an engagement letter

3 min read

Why It’s Important to Document Scope of Representation

I know lawyers get tired of hearing it and risk folk like me get tired of always having to say it; but there is real value in documenting scope of...

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Making a decision

3 min read

What Non-Engagement Letters Really Do

Over the years I have found a real disparity among attorneys as to their willingness to write non-engagement letters. You know the one. It’s that...

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a train is featured to serve as a metaphor for the cyber threats barreling towards you at the speed of a train.

4 min read

Why Your Law Firm Needs Social Engineering Awareness Training

Some time ago I had a conversation with a few lawyers who had come close to being scammed out of several hundred thousand dollars. While I was...

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Trusted staff balancing the books.

3 min read

8 Safeguards to Ensure You Can Trust Your Law Firm Employees

I continue to be surprised at the number of times I learn that a law firm turned over complete oversight of client property to a non-attorney member...

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an attorney and their successor sit down to discuss a law firm succession plan

4 min read

Solo Attorneys: Don't Wait to Figure Out Your Succession Plan

The two most common excuses I’ve heard over the years for not having a succession plan in place are these. It’s either “my plan is to die at my...

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Lawyer holding other people's money.

5 min read

7 Ways To Stay Out of Trust Account Trouble

Trust account problems remain one of the top reasons attorneys are disciplined here in the US. And while there have been and will continue to be...

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