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DHIA exists to help our customers and prospective customers find appropriate solutions for their business insurance needs. We created this podcast to provide an audio version of our informational resources. We deliver insightful information on Professional Liability Insurance, discuss business insurance solutions, and unpack the phases of running a business.
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Many factors can contribute to law firms being attractive to admitted insurance carriers. The good news is you can control some of them.One of our seasoned agents, Stephen Dimiceli, who is well-versed in attorney malpractice insurance sat down for an interview and talked through how attorneys can navigate their way back to the admitted market after having been placed in the non-admitted (surplus lines) market. More resources for you: LPL eBooks: https://hubs.ly/Q01VGkSl0Tailor...
No one likes unpleasant surprises, especially in business. An unwelcome surprise specific to a law practice is a legal malpractice claim. Some attorneys protect their practice with Lawyers Professional Liability Insurance in preparation for potential claims, but many assume a lawsuit won't happen to them. In this episode, we cover a few common scenarios of how a good situation can turn into horror by not preparing for the possibility of a claim and how you can take preventive steps to pr...
How soon should you involve your carrier when you're faced with a malpractice claim? Immediately. In this episode, we explain why immediate reporting is necessary and in your best interest. We also discuss whether there's ever a time that an attorney should represent themselves in a malpractice suit. After listening, go download your checklist to Navigating Your Professional Liability Policy & Reporting Claims - https://hubs.ly/Q02wCglr0 More resources for you:&n...
Understanding the differences between occurrence and claims-made policy forms can empower you to confidently purchase insurance that meets your unique needs.In this episode, we are going to break down what you need to know about these two different policy forms to· give you the knowledge and confidence to ask the right questions,· help you understand which policy form you need, and· understand h...
Don’t allow a lapse in communication to jeopardize the protection of your law practice. A continuously updated policy will save you time at renewal and will protect your law firm from any loss of coverage that can occur from an outdated policy.In this episode, we are going over some key changes you'll want to promptly report to your agent or carrier and what makes the urgency so essential to your coverage. More resources for you: LPL eBooks: https://hubs.ly/Q01VGkSl0 Tailored B...
Understanding a carrier's thought processes regarding risk is not always straightforward. However, it's important to make an effort to understand areas of practice (AOPs) from a carrier's perspective.In this episode, we are shedding light on how a high claim frequency can impact a specific area of practice across the board, view high-severity AOPs through an underwriter's lens, and explore how attorneys should think about their areas of practice. More resources for you: LPL eBooks: ...
It is not uncommon for disgruntled clients of attorneys to list everyone in the building in a lawsuit. If you share office space with another attorney or law firm, you are susceptible to the same fate… Dealing with a lawsuit.In this episode, we discuss the challenges of shared office space, how the IRS can cramp your style, and how shared office space is relevant to professional liability insurance carriers. More resources for you: Listen to last week's episode on reducing exposure ...
Sharing office space with other attorneys can lead to unexpected complications and problems, which can result in your name being mentioned in a lawsuit unrelated to your legal services.Office sharing is common, and many attorneys make it work. Which is why today, we're going over some tips to reduce your legal exposure.Like most matters, focus on reducing risk and exposure. Your vigilance is necessary to protect your practice. More resources for you: LPL eBooks: https://hubs.ly/Q01V...
According to the Washington Post, "Lawyers outranked other professionals on a 'loneliness scale in a survey of more than 1,600 workers". When you start your own law practice, this sense of isolation increases. Maintaining collegiality is challenging, but possible. In this episode, we're going to explore a couple of ways solo practitioners and small law firm lawyers can overcome social and professional isolation. Including an important and often missed one on allies. More resources ...
You made it through law school, worked hard to start your practice, and strive to grow your firm… Now what?You protect it all as you build it to be all you've imagined.In today's episode, we are going over 7 quick tips to help you protect the law practice you've worked so hard to start and strive to grow. From the initial consultation with a potential client to the way you run your business, these tips will help you design a plan to safeguard your law practice and legal career. Mor...
Tracking sales may seem like a simple process, but what you don’t know may be holding you back. As Edward Deming once said, "If you don't know how to ask the right questions, you discover nothing." We want to make sure you are asking the right questions so that you can uncover what your law firm is missing and take action to improve it. This episode of the Lawyers MBA Series is designed to help you map out the basics of tracking sales and keep a pulse on what is going on in your org...
Navigating success is a forever-adapting formula. However, there are foundational cornerstones to help you maintain a clear roadmap no matter the outside forces. In Part 01 last week, we went over the importance of goal setting and reflection.Today we are covering our final three tips for law firm success: leveraging data and metrics, adapting to market trends, and empowering your team. If you would like a checklist and guide of these five tips, let us know in the comments, and we'l...
Navigating success is a forever-adapting formula. However, there are foundational cornerstones to help you maintain a clear roadmap no matter the outside forces. This is Part 01 in a two-part episode where we will go over 5 strategies to keep in your law firm playbook. Today we dive into reflection and goal setting. Setting Goals is a dreaded task for some, but it's crucial for every business. This does not exclude law firms. Reflecting on the previous year, setting quality goals, a...
Lawyers get a bad rap, and the legal system's nature makes it challenging for law firms to improve customer satisfaction scores.According to the American Bar Association (ABA), the challenge to making sure all clients are fully informed is so considerable that the number one complaint received by every state bar is that the lawyer didn’t keep the client fully apprised of their matter. This highlights just how many firms struggle with client communication. More resources for you:&nb...
Malpractice claims are bad news that can have negative consequences. They can make you less appealing to carriers, increase your insurance premiums, damage your professional reputation, and even result in conflicts with the state bar. With stakes this high, it is important to take all possible measures to prevent being hit with a malpractice suit.Inadequate communication with clients is a significant reason for malpractice claims across the country. It's crucial to ensure that your clients ar...
Referrals can be a great way to expand your business. Learning how to ask for referrals can be an effective way to attract new client opportunities.Receiving a referral is the highest compliment you can receive as a professional. It is also cost-free advertising that can help you conserve the time you spend marketing your business.Listen in for some quick tips on asking for and collecting client referrals. More resources for you: Getting Them in the Door – 12 Marketing Ideas: https:...
Typically, individuals seek the services of a lawyer when something goes wrong, or they fear something might soon take a turn for the worse. Such situations can be a source of great stress and concern. This is an ideal setting for you to come to the rescue and put their mind at ease. Kevin Adams is the founder and CEO of Predictive Online Marketing, a digital advertising agency specializing in paid search advertising. Kevin sat with us to tackle the following topics to help you res...
The process of loss prevention is the ability to identify or minimize the liability and risks threatening a law firm. Loss prevention is critical to law firms, and although allegations are made against a law firm and found groundless, a firm’s reputation may be compromised. In the past few years, there have been numerous publicly reported settlements by, and verdicts against, law firms in the $3-19 million range. In this episode, we're going over some tools and procedures tha...
“Time is more valuable than money. You can get more money, but you cannot get more time.” -Jim Rohn In this episode, we are discussing how evaluating how you use your time can be a game changer for your law practice. Squandered time is a leak in your profits. Taking the time to evaluate all your tasks and processes can help you identify where you could save time, invest in new team members or technology, and pinpoint obsolete tasks that can be removed. Doing this work upfront w...
Many lawyers believe that good work will draw business or that legal marketing requires a lot of money. They are incorrect; people need reminders, and you don’t need to break your budget to get your name out there. In this episode, we are sharing sixteen creative marketing ideas to help you take your law practice to the next level for little to no cost. More resources for you: 12 Marketing Ideas for Attorneys (Download): https://hubs.ly/Q01Jjvpw0Business Plan Guide for Growing ...
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