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People Moves: Chubb's Kocsondy Joins Beazley Cyber; Ames & Gough Adds Martin; WTW's Kinzer Moves to Zurich Construction; AXA XL Adds 4 to Pollution Team insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
Legal Malpractice Claims Frequency Reaches Plateau After Year of Record Payouts claimsjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from claimsjournal.com Daily Mail and Mail on Sunday newspapers.
Law Firms and Their Insurers Feel the Pain of Bigger Malpractice Claims May 17, 2021 Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020 marked the worst two years on record for legal malpractice claim payouts, according to a new survey by insurance broker Ames & Gough. The survey also found insurers apprehensive about claims that may mature post pandemic; most reported a significant volume of claims last year with substantial reserves and large payouts. Nine of the 11 insurers surveyed had participated in a claim payout in excess of $50 million in the past two years; two paid a claim between $150 million – $300 million and four paid a claim over $300 million. Altogether, the survey found the number of claims resulting in larger multi-million dollar payouts, and t ....
Insurers Plan to Continue Hiking Liability Rates for Architects, Engineers: Ames Gough insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.
Survey: Claim Severity Driving Rate Increases for Architecture and Engineering Firms claimsjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from claimsjournal.com Daily Mail and Mail on Sunday newspapers.