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Thread: Law Insurance

  1. #31
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    Quote Originally Posted by BasilLongfellow View Post
    You get what you pay for.


    HuffPo says so, so it must be so.

  2. #32
    Quote Originally Posted by OmaHusker View Post


    HuffPo says so, so it must be so.
    I stand corrected.

    Color me red.

  3. #33
    Quote Originally Posted by McKinneyTXHusker View Post
    Are you likely to be provided with less than stellar medical representation if you use medical insurance to choose and pay your doctor? Once again, please explain the difference, RD? I can see why you don't like the idea, just like many docs don't like the idea of the insurance companies setting their rates either, but I think the two situations are VERY similar here.



    Again, why? You'll choose a heart specialist for heart surgery from the list provided by the medical insurance company. Very similar situation, it would seem?
    Well the fundamental difference is that lots of people pay out of pocket for legal services, but most people who can afford it have health insurance. Two different markets.

    As a general matter, insurance companies pay far, far less than market rates for legal representation. I know that I am simply priced out of 60% of the market for stockbrokers being sued because only the biggest firms self-insure, the rest of them purchase insurance that pays ridiculously low rates for their attorneys. Consequently, the quality of the attorney that insurance companies can get for the rates they will pay is not high.

    Simply because you can retain a wills & estates guy, or a transactional attorney, or a tax guy, or a commercial litigator does not mean that the lawyer you'll get will be a good one. I'm only speculating here, but I am guessing that the insurance companies are not paying competitive rates for the representation listed on the website. That speculation is based on insurance companies generally, and not this type of insurance in particular (which admittedly I had not heard of an hour ago)
    "The distinctive mark of the Christian, today more than ever, must be love for the poor, the weak, the suffering." Pope John Paul II


  4. #34
    Quote Originally Posted by OmaHusker View Post
    What's your opinion of legalzoom.com?

    I think it is a good resource whenever you have a run-of-the-mill type situation. If you have a unique situation, you're probably better off retaining counsel.
    "The distinctive mark of the Christian, today more than ever, must be love for the poor, the weak, the suffering." Pope John Paul II


  5. #35
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    Quote Originally Posted by McKinneyTXHusker View Post
    Well, RD, I guess you can call it s scam if you want. I had legal coverage as a benefit at a previous employer. The policy was pretty specific (as they'd have to be) about what was covered and what wasn't, but basic legal representation that an individual might need from time to time was mostly covered, and I used the coverage a couple times. They definitely handle wills, divorces (with limits), and several other common "lawyer needs" that individuals often require.
    Quote Originally Posted by ChitownHusker View Post
    I think it is a good resource whenever you have a run-of-the-mill type situation. If you have a unique situation, you're probably better off retaining counsel.
    My impression is that is all legalzoom offers; sounds a bit like McKinney's service.

  6. #36
    Quote Originally Posted by ChitownHusker View Post
    Well the fundamental difference is that lots of people pay out of pocket for legal services, but most people who can afford it have health insurance. Two different markets.

    As a general matter, insurance companies pay far, far less than market rates for legal representation. I know that I am simply priced out of 60% of the market for stockbrokers being sued because only the biggest firms self-insure, the rest of them purchase insurance that pays ridiculously low rates for their attorneys. Consequently, the quality of the attorney that insurance companies can get for the rates they will pay is not high.

    Simply because you can retain a wills & estates guy, or a transactional attorney, or a tax guy, or a commercial litigator does not mean that the lawyer you'll get will be a good one. I'm only speculating here, but I am guessing that the insurance companies are not paying competitive rates for the representation listed on the website. That speculation is based on insurance companies generally, and not this type of insurance in particular (which admittedly I had not heard of an hour ago)
    From my experience, practitioners that get in bed with these deals don't hear their phone ring a lot.

  7. #37
    Heisman

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    Essentially the way I remember the service/benefit presented - which seemed to have a ring of truth to it - is that for relatively simple legal matters, many people end up not using a lawyer at all, due to not being able to affort the expense. The program provided a lawyer for those relatively basic benefits, without you having to worry about what it costs to retain one. A lawyer representing you is likely better than NO lawyer representing you. (Although, my ex was a legal assistant for a large litigation firm in Dallas - Fulbright and Jaworski - and I was amazed at how many mundane things which were actually CHARGED by the lawyers, were handled and drafted almost totally by the legal assistants, using boilerplate that was probably at least similar to what you find on legalzoom.

  8. #38
    Blackshirt

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    Quote Originally Posted by OmaHusker View Post
    Cool! Before long, the fed gov't will mandate we all buy law insurance so everyone will be covered. It's the right thing to do.
    And what lobbyists will be pushing for that do you suppose? Just a thought....is there insurance out there to protect individuals FROM lawyers?
    I cried because I had no shoes until I saw a man that had no feet.

  9. #39
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    Quote Originally Posted by Warhorse View Post
    And what lobbyists will be pushing for that do you suppose? Just a thought....is there insurance out there to protect individuals FROM lawyers?
    No policy protects anyone from anything except bankruptcy.

  10. #40
    Quote Originally Posted by Warhorse View Post
    And what lobbyists will be pushing for that do you suppose? Just a thought....is there insurance out there to protect individuals FROM lawyers?

    See Post #8 in this thread.

  11. #41
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    Quote Originally Posted by Warhorse View Post
    And what lobbyists will be pushing for that do you suppose? Just a thought....is there insurance out there to protect individuals FROM lawyers?


    Lord loves a workin' man; don't trust whitey; see a doctor and get rid of it.



  12. #42
    All Big 10

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    Seems like "legal insurance" creates a significant moral hazard, though this probably doesn't defend you in most cases of wrongdoing (based on their list of scenarios in their "about us" section).

    The remedy for frivolous law suits the typical motions to dismiss, fee shifting and eventually sanctions. Defamation, wrongful prosecution and abuse of process are additional options.

    Speaking frankly, the "legal insurance" offered in the original link isn't going to effectively handle the abusive litigation scenario.

    Plus, it seems to (and must) only apply defensive actions, or else how do they price the "insurance"... I'm not even sure they'd assist you in proactively stopping a vexatious litigant.

  13. #43
    Quote Originally Posted by cm husker View Post
    Seems like "legal insurance" creates a significant moral hazard, though this probably doesn't defend you in most cases of wrongdoing (based on their list of scenarios in their "about us" section).

    The remedy for frivolous law suits the typical motions to dismiss, fee shifting and eventually sanctions. Defamation, wrongful prosecution and abuse of process are additional options.

    Speaking frankly, the "legal insurance" offered in the original link isn't going to effectively handle the abusive litigation scenario.

    Plus, it seems to (and must) only apply defensive actions, or else how do they price the "insurance"... I'm not even sure they'd assist you in proactively stopping a vexatious litigant.

    Can you imagine the nightmare that "legal insurance" would create in a plaintiff personal injury situation where the insurance covers the contingent fee?
    Yikes.

  14. #44
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    I am a lawyer. I was contacted by a prepaid legal company. They have lawyers agree to give free 15-30 min consults to be on their list. You agree to charge a particular fee for your services. If the people decide they need a lawyer after a free consult, you sign them up. No, I will not participate in that. "Prepaid legal" is a misnomer. It sounds like an employee benefit. It costs the provider nothing. It is a lawyer-referral service for lawyers who aren't busy. I do free consults for personal injury and criminal defense cases anyway, as most attorneys do, and I'm damned good--it can happen when you are fighting bad guys in court for 30 years. If I can help the client, I tell them exactly what I will charge (not hourly, but a flat fee) and they either hire me or they don't. They usually do hire me. Legalzoom is a viable resource if you need a specific form, like a simple will or articles of incorporation. It is not a resource for legal advice.
    "I'm not allowed to argue with you until you've paid."







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