Most businesses would do well to obtain a thorough insurance policy to protect themselves when unforeseen circumstances present themselves. Law firms face unique risks, and therefore, it would be wise of every firm to obtain legal liability insurance in Austin. A good policy will cover a variety of claims. However, not everything will be covered.
Naturally, if a law firm is being sued for conducting criminal activity, then that firm would be unable to use their policy to cover legal expenses. This also includes fraudulent or otherwise dishonest activities.
Two Insured Employees at the Same Company
Your policy will cover everyone who works at your law firm from attorneys to office workers. If one employee sues another employee for whatever reason, your insurance policy would not cover both of them.
Additional items that are generally excluded from a legal liability insurance policy include:
- Property damage caused by an employee of the firm
- Bodily injury caused by an employee of the firm
- Claims the firm should have foreseen when the policy was first obtained
Your insurance agent will go over your law firm’s policy in fine detail when you first get it so that you understand every last detail. While there are certainly plenty of exclusions, there are plenty of items that are covered, so acquiring legal liability insurance in Austin is definitely an investment worth pursuing.