Probation After a Legal Malpractice Claim
After a claim, you can expect your premium to go up and carriers will not be as willing to offer higher limits or favorable terms such as first-dollar defense or claims expense outside the limits. When a claim is filed, under a claims made policy, there is a 5-year probationary phase from the date the claim closes. If there are no claims for the next five years, the premium would return to a more preferred rate.
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