Understanding Liability Insurance For Lawyers

Understanding Liability Insurance For Lawyers

´╗┐professional liability insurance for lawyers

As a lawyer, you put your best foot forward in your work to ensure that your clients experience the best outcomes possible. Unfortunately, despite your efforts, you don’t always end up on the winning side and as a result, you may face lawsuits from the very client that you worked so hard for. While you may not be able to always meet your clients’ expectations, you can take steps to protect your finances and reputation with professional liability insurance for lawyers.

What is Professional Liability Insurance?

Also known as errors and omissions insurance or malpractice insurance, professional liability insurance protects you in case a client files a lawsuit claiming that they experienced a loss because of an error or omission on your part. It’s not always a required coverage for legal professionals, but in the age of malpractice lawsuits, it’s prudent for all legal professionals to carry professional liability insurance.

What’s Covered?

Generally speaking, professional liability insurance for lawyers offers payments towards any defense costs and settlement amounts for cases dealing with personal injury perils like defamation or invasion of privacy. Cases involving fraud, criminal acts, bodily injury and property damage are usually not covered.

Professional liability coverage can be added to your insurance policy along with your other liability and property coverages. Work with an experienced agent to ensure that you get the perfect policy that protects you against the many risks faced by lawyers.