The Hidden Cost of "Set It and Forget It" Insurance for Law Firms

It's easy to renew your firm's professional liability insurance year after year without thinking too hard about it.

But "set it and forget it" can quietly cost you thousands over time — and worse, it can leave you underinsured without realizing it.

Here’s why:

• Carriers change their appetite every year.
• New carriers enter (and exit) the market.
• Your firm’s risk profile evolves.

Other hidden risks include:

• Outgrowing your coverage limits without adjusting.
• Missing out on new policy features (like cyber endorsements).
• Not catching premium creep — slow, unnoticed increases that snowball year after year.

At Walker & Company, we re-shop every year because the market moves — and so do you.