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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

Mark Bassingthwaighte, Esq., serves as Risk Manager at ALPS, a leading provider of insurance and risk management solutions for law firms. Since joining ALPS in 1998, Mark has worked with more than 1200 law firms nationwide, helping attorneys identify vulnerabilities, strengthen firm operations, and reduce professional liability risks. He has presented over 700 continuing legal education (CLE) seminars across the United States and written extensively on the topics of risk management, legal ethics, and cyber security. A trusted voice in the legal community, Mark is a member of the State Bar of Montana and the American Bar Association and holds a J.D. from Drake University Law School. His mission is to help attorneys build safer, more resilient practices in a rapidly evolving legal environment.

13 min read

ALPS In Brief - Episode 68: The Unnecessary Burdens of Growing Up in the Witness Protection Program

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lawyers discuss conflict waivers

2 min read

Joint Representation Conflict Waivers – Why You Can't Have It Both Ways

An estate planning firm asked me to review several sample Consent to Joint Representation forms they were using with their clients; and what I found...

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Lawyer receiving notice of a malpractice counterclaim.

6 min read

How to Avoid the Legal Fee Suit Counterclaim

You finish a client matter. You feel good about the quality of your work, and you are pleased that you got such a good result for your client. Then,...

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thank you letter from an attorney sits on a wooden desk

5 min read

Don't Underestimate the Importance of Closure Letters

Over the years, I have found that the use of closure letters varies greatly, not only between firms, but even between attorneys practicing at the...

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3 min read

How to Make the Right Impression When Applying for Malpractice Insurance

Of course, a malpractice insurance underwriter will review everything a law firm submits in its application and obviously a great deal can be learned...

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lawyers make their business plan

5 min read

Lawyers: How and Why to Implement a Business Plan to Guide Your Firm

Successful businesses of all shapes and sizes often take time once a year or so to review and update their mission statement, strategic plan, and...

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3 min read

Ask the Right Questions When Shopping for Malpractice Insurance

Every one of us has heard the pitches. “Bigger is better.” “We’ve been in business for over 100 years so we’re the one company you can trust.” “We’ve...

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4 min read

Passive Management: Is Your Law Firm Lacking Leadership?

After having consulted with over twelve hundred law firms over the years, trust me when I say that more than a few small law firms around the country...

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17 min read

ALPS In Brief - Episode 67: Going "Solo" in the Wilderness with Callie Russell

What does herding goats, surviving 3 months in the Canadian tundra, and eating porcupines have to do with practicing law? In this episode, Mark sits...

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7 min read

Insuring the Business Risks of a Law Practice

While certain business risks can be unpleasant to think about and others are all too easy to minimize; unexpected things can and do happen, even to...

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4 min read

How to Stop Having to Write and Send Declination Letters

Declination letters, also referred to as non-engagement letters, are those letters that say, “thanks, but no.” Some lawyers use them religiously and...

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3 min read

Can Lawyers Use Apps Like Venmo, Zelle, or PayPal?

As with so many tech decisions lawyers face, the answer is yes, as long as any associated ethical issues are identified and responsibly addressed....

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3 min read

Do Lawyers Need to Be Concerned About Deepfakes?

The short answer is yes, everyone does; but the reason lawyers need to be concerned requires a longer explanation. What is a deepfake? The word...

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