Lawyers Mutual Insurance of Kentucky
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We fight for the fighters.

2014 ABA Fall National Legal Malpractice Conference on Business Transaction Risk Management
Download 2015_newsletter_winter.pdf

The Risk Manager, Winter 2015

A panel at the recent ABA Fall National Legal Malpractice Conference discussed the increasing risk of transaction malpractice claims offering this risk management advice:

  1. Make sure you have identified, in writing, who your client is and what the scope of the representation will be.
  2. Check back on these two questions often, and identify – again in writing – any changes that have occurred.
  3. Document what you won’t do, and who you won’t represent, as well. Don’t take on tasks or clients that are outside the scope of representation.
  4. Check in on conflicts frequently as new parties join the transaction or engagement.
  5. Don’t get involved in your client’s management, other than evaluating the business risk of proposed actions and transactions. If you do, you will be a target for liability.

Source: ABA/BNA Lawyers’ Manual on Professional Conduct, Current Reports, Vol. 30, No. 20, page 632, 9/24/14.

 

Lawyers Mutual of Kentucky

10503 Timberwood Cir., Ste. 213
Louisville, Kentucky 40223

Phone: 502-568-6100
Fax: 502-568-6103

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Lawyers Mutual of Kentucky

10503 Timberwood Cir., Ste. 213
Louisville, Kentucky 40223

Phone: 502-568-6100
Fax: 502-568-6103

Who We Are
About Us
Staff
Board of Directors

What We Do
Risk Mitigation
Professional Liability Policy
Court Bonds
FAQs

Applications
Quick Quote
Application
New Bar Admit

Applications
Quick Quote
Application
New Bar Admit

Forms
Bar Complaint
Claims Reporting
Make a Payment
Add an Attorney
Remove an Attorney
Firm Name Change
Firm Address Change

Resources
Subjects A-Z
Schedule an Ethics CLE
Practice Management

Social
Facebook
LinkedIn
Instagram
Twitter

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Disclaimer: The contents of this Web site are intended for general information purposes only and should not be construed as legal advice or legal opinion on any specific facts or circumstances. It is not the intent of this Web site to establish an attorney’s standard of due care for a particular situation. Rather, it is our intent to advise our policyholders to act in a manner which may be well above the standard of due care in order to avoid claims having merit, as well as those without merit. In the event any statement on the Web site differs from a statement in an issued policy the policy will control.

  • Who We Are
    • About Us
    • Staff
    • Board of Directors
  • What We Do
    • Risk Mitigation
    • Professional Liability Policy
    • Court Bonds
    • FAQs
  • Applications
    • Quick Quote
    • Application
    • New Bar Admit
    • Apply by Postal Mail
  • Forms
    • Claims Reporting
    • Policy Changes
      • Adding an Attorney
      • Remove an Attorney
      • Firm Name Change
      • Firm Address Change
    • Make a Payment
    • Future Contact Request
    • Reporting a Bar Complaint
  • Media
    • Newsletter Archive
    • COVID-19
    • Disaster Response Information
  • Resources
    • Site Search
    • Subjects A–Z
    • Subjects by Year
    • Schedule an Ethics CLE
    • OnDemand CLE Courses
    • Practice Management
    • Financial Statements
  • Contact