Insurance Issues Related to Lateral Hire Musical Chairs
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This article addresses the various insurance issues relating to lawyer mobility. Part I of this article introduces the topic by noting the heightened rate of lawyers making lateral moves and how insurance coverage has responded to an increasingly mobile legal labor force. Part II provides a brief historical perspective on insurer reaction to lateral hire claims. Part III analyzes specific policy provisions related to lateral hires for both the prior firm and the new firm. Part IV discusses how a firm and a lateral lawyer should study and address risks before consummating the move. Part V examines the problems related to sorting risks and adjusting claims. The conclusion, in Part VI, reasserts the importance of carefully considering professional liability insurance implications of lateral transitions before the move is finalized.
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