Business owners’ insurance coverage protects your law firm against damages to property and injuries to employees. It typically covers general liability issues as well, such as when a client falls and hurts themself on your premises. What it doesn’t cover, however, is litigation against you or one of your legal staff for work completed.
Malpractice Insurance for Attorneys
An Attorney Malpractice Insurance policy protects your firm and your employees from claims filed against them while performing their professional duties for the company.
Examples of such perils include:
- The outcome of an engagement wasn’t to the client’s wishes, whether perceived or actual.
- A deadline was missed.
- Errors were made when interpreting law.
- A claim is made regarding falsifying documents or obstructing an inquiry.
Damages resulting from lawsuits could be substantial and include such things as legal fees, settlements and other expenses. Acquiring adequate malpractice coverage for your attorneys provides legal council for your staff as well.
Since no two law firms have the same risks, make sure your policy is tailored to your exact needs. You don’t want to pay for coverage that doesn’t apply to your circumstances.
You certainly don’t expect a client to file a claim against your firm or one of your attorneys, but the cost of inadequate coverage is a risk you aren’t willing to take.