"History Repeating Itself—The Potential Impact of the Pandemic on Legal Malpractice Claims."
In an article published online in the Daily Business Review on September 30, 2020, Partner Ronald Schirtzer discusses how the COVID-19 crisis has challenged lawyers and its potential impact on professional liability claims.
Schirtzer first examines how trends from previous recessions indicate legal malpractice claims may be on the horizon.
“While some of the operational changes in the practice of law are unique to the epidemiology of the current pandemic, the core response of law firms and legal departments has been remarkably similar to the responses to aforementioned prior economic crises: reductions of both the size of legal and support staffs and compensation levels for those who remain,” he writes.
Schirtzer warns that while a wave of legal malpractice claims will inevitably flow from the current economic crisis, there are affirmative actions lawyers can take to reduce the potential for these claims.
“Even though firms are undergoing business downturns and staff reductions, good business management practices are more important than ever during an economic downturn,” he explains.
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