essay contest awarding the winner $5,000. This year, in light of the ABA’s new focus on solo and small firm attorneys, the essay is open exclusively to solo practitioners. In 600 words, or 5 minutes of video or less, solos are asked to answer: What innovation will be most valuable to you in your future practice as a solo practitioner?
Many new and emerging innovations could be utilized by all lawyers, including solos, especially in the technology and law practice management arena. One important law practice management tool that could be of value to solos, is the insurance plan known as Professional Overhead Expense insurance. Just like life and disability insurance protect you and your family’s personal finances in the face of the unexpected, Professional Overhead Expense insurance protects your practice if you become totally disabled and are unable to work. It can help keep your doors open for up to a year, keeping your staff and monthly debt obligations paid, and your practice afloat...I'd say that’s valuable!
While many solos will be entering the LR essay contest with ideas such as new pricing structures or marketing tactics that help grow their practice, we hope you’ll consider protecting your practice with insurance, one of the foundations of financial security.
This is a group insurance plan, meaning coverage is issued to an ABA Member under a certificate of Insurance; it is not provided under an individual policy, nor is it employer/employee insurance. Underwritten by New York Life Insurance Company under Policy Form GMR.