Lawyers Professional Liability Insurance Blog

How to Keep Your Law Firm Financially Secure

Posted on 1/6/2016 by Pearl Insurance in lawyers professional liability

Financial security is no longer a guarantee for established law partners at powerful firms, let alone lawyers with brand new practices. Thanks to a variety of increasingly common factors, including legal software and lingering effects of the economic recession, lack of financial stability is now an industry-wide problem. In fact, one hypothesis suggests that out of the 150 to 250 American firms that are historically profitable and cater to large corporations, only 20 to 25 will survive the next decade.

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