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Saturday, July 26, 2008

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Legal Malpractice 10–Year Summary

Note: Claims closed may have resulted from incidents in any previous period.

Legal Malpractice Experience
Ten Year Summary
(1998— 2007)
Closed Claims Number Of Claims Percent Of Claims Total Indemnity Paid Average Indemnity Paid Total Loss Expenses Paid Average Loss Expense Paid
All Closed Claims 2,528 100.0% $66,762,354 $26,409 $39,049,766 $15,447
Closed with Payment 675 26.7% $66,762,354 $98,907 $22,518,830 $33,361
Closed without Payment 1,853 73.3% $0 $0 $16,530,936 $8,921
Claims Settled Through Court Proceedings 206 8.1% $8,141,468 $39,522 $8,956,978 $43,480
Court Proceedings Resulting in Payment 37 1.5% $8,141,468 $220,040 $3,214,125 $86,868