Most businesses can benefit from an errors and omissions insurance policy. Attorneys provide their professional guidance to clients, defend them in court and stand as the voice of reason in mediation. Even the best attorneys may have a malpractice claim filed against them. Attorney malpractice insurance protects your firm from financial loss due to a wrongful acts claim.
Not all professional liability policies are the same. A policy tailored to legal malpractice often goes beyond the generalities of a standard errors and omissions insurance policy. When deciding on a policy, ask your agent or broker some additional questions such as:
- Who chooses your counsel, the insurance company, or you?
- Does coverage include semi-retired or retired partners, clerical staff, counsel, paralegals or independent contractors?
- How is the policy issued?
- Are moonlighting and pro bono work covered?
Attorney malpractice insurance covers wrongful acts claims by clients. A wrongful act arises from omissions, negligence or errors resulting in the claimant’s loss due to the attorney exercising their professional judgment or while the attorney is performing their professional duties.
Protect your law firm regardless of size from financial hardship with attorney malpractice insurance. An insurance professional can go over the policy’s details. Ask questions, do research and choose a policy that best covers the exposures of your specific practice.