(a) In recognition of the importance of protecting the public from attorney errors through errors and omissions insurance, the State Bar shall conduct a review and study regarding errors and omissions insurance for attorneys licensed in this state. The State Bar shall conduct this review and study, which shall specifically include determinations of all of the following:
(1) The adequacy, availability, and affordability of errors and omissions insurance for attorneys licensed in this state.
(2) Proposed measures for encouraging attorneys licensed in this state to obtain and maintain errors and omissions insurance.
(3) The ranges of errors and omissions insurance limits for attorneys licensed in this state recommended to protect the public.
(4) The adequacy and efficacy of the disclosure rule regarding errors and omissions insurance, currently embodied in Rule 3-410 of the Rules of Professional Conduct.
(5) The advisability of mandating errors and omissions insurance for attorneys licensed in this state and attendant considerations.
(6) Other proposed measures relating to errors and omissions insurance for attorneys in this state that will further the goal of public protection.
(b) The State Bar shall report its findings under this section to the Supreme Court and the Legislature no later than March 31, 2019.
(c) The State Bar may consider any past studies, including, but not limited to, any relevant actuarial studies, and any current information that is available to the State Bar from other entities, such as the American Bar Association, regarding errors and omissions insurance.
(Added by Stats. 2017, Ch. 422, Sec. 26. (SB 36) Effective January 1, 2018.)
Last modified: October 25, 2018