September 18th, 2012|
Sept. 18, 2012
A recently released American Bar Association (ABA) study showed that real estate transactions made up the bulk of claims filed in Legal Malpractice Law.
According to Bloomberg BNA, the data, collected from 2008 to 2011, was presented this month at the ABA’s Fall 2012 National Legal Malpractice Conference.
The study examined 53,000 claims submitted from 20 different malpractice liability insurers and found real estate claims represented 20 percent of the total. Plaintiff’s personal injury ranked second with more than 15 percent of the total, while family law was responsible for approximately 12 percent of claims filed.
Estate and trust claims, along with bankruptcy and collections, each represented roughly 10 percent of the remaining complaints. These two types of claims, despite representing the lowest percentages, saw a tremendous spike since 2008. Many experts say that the shift can be blamed on the downturn of the housing market around 2007.
Researchers behind the study hope the data can be put to work in future claims prevention programs.
The Birmingham Personal Injury Lawyers with Norris Injury Lawyers believe representing a client’s needs should always be a top priority when working a case, and they are here to help you if a law firm’s errors caused you to suffer.