Recent Newsletters
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Summer 2008, Vol. XVIII, No. 1 |
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Becoming involved in a client's entrepreneurial activities is
"risky business." The lawyer's acquisition of any pecuniary interest as an owner must be
A fair and reasonable to the client,@
and requires the client's written consent after full disclosure and
the opportunity to seek independent legal advice.
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Acts, errors and omissions giving rise to claims are not limited to
those committed by you as the attorney handling your client's case,
your partners, fellow shareholder or associates. Staff members can
and do cause claims.
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AIM completed its redemption of all outstanding debentures in May
2007. Checks were mailed to record owners at their last known
address. Alabama attorneys bought 3097 debentures to found and
support AIM from July 1988 through May 2000.
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Q. What are the consequences of gaps in coverage under "claims-made" policies?
A. There is no coverage if a suit is filed against the
attorney while the policy has lapsed.
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA,
INC.
Balance Sheet - Statutory Basis
2008
(Unaudited)
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Fall 2007, Vol. XVII, No. 2 |
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Even though a divorce decree operates as a revocation of a will,
insofar as it benefits the former spouse, executing a new will is
important for many reasons: First, it is necessary to provide an
alternate disposition of property now that the spouse (who is
generally the primary beneficiary under a prior will) has been
removed.
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AIM= s annual fall CLE
seminar is planned for Friday, November 30, 2007, at the Boutwell
Auditorium in Birmingham.
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Harry W.R. Chamberlain, II, Esq., a shareholder in the Los
Angeles firm of Buchalter Nemer is AIM=
s special guest speaker at its Fall Malpractice Prevention CLE
Seminar to be held in Birmingham on November 30, 2007.
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Q.
Do engagement letters help in the defense of a malpractice claim?
A. Using engagement letters can be crucial to
malpractice avoidance. Legal malpractice claims can be successfully
defended when production of an engagement letter can establish the
defined and limited responsibilities of a lawyer to a client.
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA, INC.
Balance Sheet - Statutory Basis
August 31, 207
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Winter 2007, Vol. XVII, No. 1 |
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AIM= s newsletters are
available on its web site. The most recent newsletter is usually
available to be viewed on the web site before it is printed and
mailed out. AIM maintains its newsletters on the web site for
several years after they are published.
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As a holder of the Debenture, you are hereby notified that, pursuant
to its terms, the Company has called the Debenture for redemption as
of December 31, 2006.
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Uninsured/Underinsured motorist coverage provides an additional
source of compensation for an injured plaintiff when the tortfeasor
either has no insurance, or the limits of his or her insurance are
inadequate to fully compensate the insured plaintiff. There are
numerous issues that arise when dealing with a UM/UIM claim that
must be addressed on a case by case basis.
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Founded in 1989, AIM was capitalized by the
voluntary purchase of "units"
by Alabama attorneys. Debentures, in the face amount of $1,000, were part of
each unit as well as a non-refundable contribution to the surplus of varying
amounts (generally $250 to $500).
More.......
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Q. What exposure does office sharing present to my malpractice
insurer? A. A concern arises when office sharers are
perceived by the public as practicing as a partnership or
corporation. If they are held to be a "defacto partnership," office
sharers may be held vicariously liable for the acts of each other.
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA, INC.
Balance Sheet - Statutory Basis
November 30, 2006
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Fall 2006, Vol. XVI, No. 2 |
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Q. If I am a retiring sole practitioner, what are my extended
reporting A
tail@ coverage
options?
A. Once you cancel or terminate your policy, you are no longer
covered for any claims that were not reported even if the alleged
claim occurred
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AIM continues to buy back outstanding debentures. Debentures were
initially sold to capitalize AIM and continued to be sold until May
2000 in order to support AIM's sound
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AIM will offer its 17th annual CLE malpractice prevention
seminar to be held in Birmingham. The seminar will begin at 8:20
a.m. on Friday,
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Allied Williams Companies, Inc. v. Davis,
901 So. 2d 696 (Ala. 2004), involved efforts by non-signatories
to an arbitration agreement to compel arbitration
.More...... |
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Winter 2006, Vol. XVI, No. 1 |
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Q. If my firm forms an LLC can an individual attorney be
insured separately?
A. No. As in the case of a partnership, professional
corporation, or solo P. C's practicing as a firm, all attorneys must be
insured.
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AIM= s policy of insurance
requires that reporting of claims must be made in writing. Some
insureds provide first notice of claims to AIM via certified mail.
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AIM= s current debenture
buyback, that began in September 2005, continues. Five-hundred
debentures are being bought back.
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Once litigation has been initiated against your
client the first thing you must do is to verify that your client's activities with respect to the allegations contained in the
complaint constitute "debt collection" as
defined under '803(6)
of the FDCPA.
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Fall 2005, Vol XV, No. 2 |
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The Bankruptcy Abuse Consumer
Protection Act of 2005 was passed by Congress and signed into law by
President Bush earlier this year. Amendments to the U.S. Bankruptcy
Code place additional responsibility on attorneys representing
debtors.
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AIM's 16th annual
malpractice prevention CLE seminar will be held Friday, December 2,
2005.
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AIM's Board of Directors has just
announced the third general buyback of debentures.
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Q. Why is it necessary to
complete an application each year?
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA,
INC.
Balance Sheet - Statutory Basis
August 31, 2005
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Spring 2005, Vol XV, No. 1 |
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The best advice I could give about bankruptcy practice would be to
refrain from “dabbling in bankruptcy.”
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Plaintiff's attorneys who represent clients with causes of action
arising out of vehicular collisions in Tennessee need to be aware
that Tennessee has a one year statute of limitations governing such
actions.
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Settling cases can involve information and instructions scattered
throughout a file. To be able to quickly discuss settlement with
opposing counsel, . . .consider using a “settlement” chart ..
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Q. If an attorney leaves my firm mid-term during the policy
period, will AIM give me a pro rata refund of the policy premium
attributable to the attorney who left?
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ATTORNEYS INSURANCE MUTUAL OF
ALABAMA, INC.
Balance Sheet - Statuatory Basis
February 28, 2005
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Spring 2004,Vol. XIV, No. 1
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The clock for the 42 days to file the notice of appeal starts to run from the
entry of the trial court's order on
the post-judgment motions.
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Q. How does a firm determine if it has adequate limits of liability?
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In December 2003, AIM's
Board of Directors received permission from the State of Alabama,
Department of Insurance, to buy back 500 debentures.
More...... |
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA, INC.
Balance Sheet -
Statutory Basis
November 30, 2003
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Fall 2003, Vol. XIII, No. 1
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The Fair Debt Collections Practices Act, "FDCPA" or
the "Act," is federal law codified at 15 U.S.C. 1692 et seq., that
regulates the collection of consumer debts by third-party debt collectors.
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Q. Does AIM's policy
provide coverage when an insured is performing legal services for a family owned
business?
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While AIM continues to remain a source of stable pricing and
availability for its insureds, large numbers of Alabama attorneys and law firms
who relied on commercial malpractice insurance are facing rate increases or
losing their coverage altogether.
More....
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA, INC.
Balance Sheet -
Statutory Basis
July 31, 2003
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Fall 2002, Vol XII, No. 1
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The only logical place to begin any discussion of uninsured
motorist law in Alabama is with the Uninsured Motorist Statute, as the language
of all insurance policies issued in this state essentially track its language,
and since an insurance company could not and would not be allowed to enforce a
policy, even if it tried, that contained terms contrary to the statute State
Farm Auto. Ins. Co. v. Reaves, 292 Ala. 218, So. 2d 95 (Ala. 1974).
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Nowhere if you're an AIM
insured. It is still here and available as it has been since July 1,
1989. Recent adverse trends in medical malpractice, property and
casualty insurance and September 11 loses have caused some
commercial insurers to re-evaluate their desire to support attorneys
malpractice
insurance.
More....
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ATTORNEYS INSURANCE MUTUAL OF ALABAMA, INC.
Balance Sheet -
Statutory Basis
July 31, 2002
More....
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For the thirteenth consecutive year AIM will provide
a free CLE seminar to its insureds. This year's
seminar will again be at the Boutwell Auditorium in
Birmingham.
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