This story is reprinted with permission from FC&&S Legal, the industry's only comprehensive digital resource designed for insurance coverage law professionals. Visit the website to subscribe.
Anyone who provides professional services faces the prospect of disgruntled clients, and lawyers often have clients who are unhappy when a deal falls apart. In a recent case, a lawyer received a letter from one such client's new attorney warning him that the former client intended to pursue "claims" and that the lawyer should "forward this letter to your carrier of professional liability." What was the effect on the lawyer's malpractice coverage when he decided not to send the letter to the carrier?
In December 2011, Spiros Gonakis, an attorney, represented Rolvow Properties, LLC, in a real estate transaction involving Rolvow's sale of an apartment building to Classic Victor, LLC. Gonakis was retained to review the real estate purchase agreement, promissory note, and mortgage. Title to the apartment building transferred to Classic Victor on Jan. 9, 2012, and Gonakis' representation of Rolvow ceased.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
