As an attorney, you probably encounter lawsuits all the time. With an increasingly complicated system of laws and regulations, your chances of becoming a plaintiff in one of these suits increase every day. Even if your disgruntled client doesn’t have a valid case, the damage from legal malpractice allegations can put your career in jeopardy. Even worse, settlements from errors and omissions can be expensive. Legal professional liability insurance can provide peace of mind for you and your firm.
As a smart lawyer, you might choose to purchase professional liability insurance for a variety of reasons. Most significantly, a malpractice policy gives you protection against claims of negligence, errors, and omissions. This will free your mind to concentrate on building your practice and effectively representing your clients. But, having a good policy in place will also increase your clients’ confidence in your practice. And, because your policy likely extends to your staff, those working for you will feel more comfortable as well.
When choosing a professional liability insurance policy, be sure to find one that is customizable. You want to be able to beef up protection in areas where your firm is more at risk while limiting coverage that you do not need. Finally, make sure that your legal professional liability insurance satisfies all legal and ethical requirements established by the bar in the jurisdiction where you practice.