Monthly Archives: July 2025

Have You Reviewed Your Legal Malpractice Policy Limits Lately?

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When was the last time you reviewed the policy limits on your legal malpractice insurance?

For many attorneys and law firms in Pennsylvania and Ohio, the answer is: “It’s been a while.” 

And for some, it’s even worse — they’ve never increased their limits since first purchasing their policy.

We get it. When you first bought coverage, it felt like checking a box. 

You picked a limit — maybe the standard $100,000 per claim / $300,000 aggregate — and haven’t thought much about it since. Unless a client insisted on a higher limit, there may have been no urgency to adjust anything.

But that mindset can put your entire practice at risk.

Why It’s Time to Rethink Your Firm’s Insurance Limits

As I like to say:

“Trying to raise your limits after a claim is like trying to buy homeowner’s insurance when your house is already on fire.”

Let that sink in.

Here are a few things that have likely changed since you last looked at your policy:

  • The cost of living has risen significantly — including in Pittsburgh, Harrisburg, Cleveland, and Columbus.
  • Real estate prices, car prices, and even eggs have all gone up.
  • Your cost of doing business — from staff wages to office rent — has increased.
  • And your legal fees have likely risen, too.

So, if every financial metric around you has grown, why haven’t your malpractice limits?

Low Limits For Your Legal Malpractice Insurance Can Cost You Big Time

The most commonly offered “starter” policy is $100,000 / $300,000. And while that might sound like a lot, it doesn’t go far when:

  • Defense attorneys start billing (what would you be charging?)
  • Expert witnesses are brought in
  • A claim needs to be settled before trial

Even a small-to-midsize claim can eat through six figures fast — leaving you on the hook for the rest.

At that point, you’re not just protecting your firm — you’re protecting your personal assets, too.

How to Determine the Right Coverage For Your Law Firm

If you’re unsure what limits make sense, here are a few questions to ask:

  • How many active clients does your firm currently serve?
  • What is the average value of the cases you handle?
  • How many attorneys are in your firm?
  • What is the current cost of living index in your area?

These factors should all influence your decision. 

A solo attorney in Erie, PA handling traffic tickets may have different needs than a five-attorney firm in Cincinnati managing complex civil litigation — but both should at least evaluate whether their limits are keeping pace.

Don’t Say “No” Without Knowing the Cost

One of the most common objections we hear is:

“I’d love to increase my coverage — but it probably costs too much.”

But many firms say that before even getting a quote.

In reality, increasing your limits might not cost as much as you think. 

And the peace of mind it offers — especially if you’re planning for retirement or growing your practice — is well worth the investment.

Legal Malpractice Insurance in Pennsylvania and Ohio: Get a Review

If you’re a law firm based in PA or OH, now is a great time to schedule a malpractice policy review with us. Whether you’re in Philadelphia or Dayton, Erie or Akron — your firm deserves coverage that reflects today’s legal environment.

You wouldn’t go five years without adjusting your rates or reviewing client contracts — don’t let your insurance stay stuck in the past.

Final Thought

Before you say no to increasing your limits, ask:

  • When was the last time I adjusted my coverage?
  • What would a real claim cost me today?
  • Am I protecting my future — or playing defense?

Want to dive deeper?

Grab a free copy of my book, Game Over? Not Today!, which covers risk exposure, cyber liability, and real-world scenarios that law firms face every day: https://bit.ly/INF-Game-Over-Not-Today

If They Can Breach an Insurance Giant, What’s Stopping Them from Hitting Your Law Firm?

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I recently read something eye-opening in an insurance journal — a reminder that cybercrime isn’t just evolving, it’s organizing.

There are now cybercriminal groups that no longer just pick off random companies with weak cybersecurity. Instead, they target entire industries, strategically identifying and exploiting vulnerabilities across the sector. 

One such group is known as Scattered Spider, and their newest target? The insurance industry.

In recent months alone, major players like Philadelphia Insurance Company, Erie Insurance, and Aflac have been hit with significant cyberattacks. These breaches not only disrupted their operations, but in Erie’s case, have already led to multiple class action lawsuits.

Let’s think about that…

These are companies that:

  • Handle sensitive data every day
  • Have risk management baked into their company DNA
  • Invest hundreds of thousands of dollars (if not millions) into cybersecurity infrastructure

… and they still got breached.

So here’s the question every law firm should be asking:

If these highly protected insurance companies aren’t safe, what makes you think your firm is?

The Ugly Truth – Law Firms Are Prime Targets

You might be thinking, “We’re a law firm — not an insurance company. Why would hackers bother with us?”

Here’s why:

  • You store the same type of sensitive data: personal information, financial records, privileged communications.
  • You likely don’t have the same kind of IT budget or internal safeguards that large insurers do.
  • And from a hacker’s perspective, that makes you low-hanging fruit.

Whether you’re a solo practitioner in Pittsburgh or part of a mid-sized firm in Cleveland, you’re exposed — and attackers know it.

The Smart Next Step For Your Firm: Cyber Liability Insurance

Even if you have antivirus software, firewalls, and employee training in place (and you should), there’s another essential layer of protection… 

A tailored cyber liability insurance policy.

This isn’t just about protecting your firm — it’s about protecting your clients and your reputation. A single breach can take down your operations, cost tens of thousands in recovery, and damage your trust with clients.

Cyber policies are more affordable than most firms realize, especially compared to the cost of recovering from an attack.

Want to Learn More?

I go deeper into these risks and solutions in my book, Game Over? Not Today! 

It’s written specifically for professionals like you — attorneys, advisors, and business owners who want to understand the threat landscape and take action before it’s too late.

Pick up my free book today here -> https://bit.ly/INF-Game-Over-Not-Today 

Stop procrastinating. Protect your firm, your data, and your clients.

If you’re in Pennsylvania or Ohio and want to explore your cyber coverage options, I’d be happy to help.

I’m Don Ivol — your insurance guy.