When a Lawyer Retires

Lawyers who retire but continue to hang around the office can pose a liability risk both to themselves and to their old firms. As the baby boom generation hits retirement age, more lawyers will find it attractive to keep an office at their old firm, so they can continue to mingle with former clients and fellow lawyers. But consider the prospect of a former client mistaking some friendly chat as advice about her legal situation and acting on it to her detriment. If she sues, the retired lawyer who will have no malpractice insurance may have to pay his own legal bill, which could wipe out years of hard-won earnings. The bottom line is that lawyers who are not insured must not dabble in law. (Excerpt from Issue #20, CLIA Loss Prevention Bulletin)

Lawyers’ Insurance Programme
Law Society of Newfoundland and Labrador