Umbrella coverage vs. going 'bare;' citing costs, some solos maximize exposure by forgoing malpractice insurance
Article Abstract:
Some sole practitioners may not find mandatory malpractice insurance viable, especially towards the beginning of their practice when the volume of cases may not be great. Many also find insurance not necessary for the low-risk type of work typical of this lawyer. Insurance can be viewed as a cost of doing business, however, and a duty owed to clients. Most lawyer referral services will not take lawyers without this insurance
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1998
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Uncle Sam's outstretched hand: just settled a personal injury case? Your client's next opponent may be the IRS
Article Abstract:
Legislation on damages taxation passed in Aug 1996 taxes compensatory and punitive damages won in nonphysical personal injury cases, and the 1996 US Supreme Court decision of O'Gilvie v. United States upheld this law. The US Court of Appeals for the 8th Circuit will decide in Bagley v. Commissioner the extent to which the Internal Revenue Service can go in reviewing structured settlement allocations.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1997
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