The 10th and latest edition of the association's podcast covers the malpractice insurance market in New Jersey, what makes it tricky, what practice areas are in the crosshairs these days and what attorneys need to look for when shopping for coverage.
In this episode, Mike Mooney, a senior vice president of Professional Liability Practice Leader at USI Affinity, explains why New Jersey can be such a tough place to get malpractice insurance.
We talk about how the statute of limitations and fee shifting make New Jersey a standout, in not necessarily a good way, in the region. He demystifies terms like "hammer clause" and explains what’s steak and what’s sizzle when trying to figure out the right malpractice coverage.
Mike also shares insights about trends in coverage and what practice areas are considered high risk these days. And he dishes on exactly how many claims it can take to put a lawyer out of business. (The answer is frightening.)
Stay tuned to the end when Mike explains a new player in the market and offers up his contact info to anyone who wants to learn more or talk about their coverage options.
FYI: USI is the association member benefit insurance broker.
If you have thoughts, comments or questions or ideas of people Sidebar should talk to, please drop a line at [email protected]. You can listen to this episode through Soundcloud above, or find this episode, as well as past episodes, through iTunes, here.