Every law office is faced with risks on a daily basis, simply because of the nature of the profession. Lawyers deal with a wide variety of information-sensitive situations, and they are required to offer advice that will serve the best interests of their clients. It only takes one client to decide that an attorney has not done their job properly to bring a potentially devastating lawsuit against them. An attorney professional liability policy can minimize the financial risks to the lawyer and their firm by covering common legal costs.
What Does Liability Insurance Cover?
Attorney professional liability insurance coverage is specifically designed to cover the most pressing risks that lawyers face on a day-to-day basis, including failure to advise, missed statutes of limitations, inadequate investigation, clerical errors, improper advice, real-estate transaction errors, failure to timely respond or file, and drafting errors. Lawyers could potentially be sued for any of the afore-mentioned mistakes, so liability insurance coverage is designed to minimize their financial risks.
How Do You Get Custom Insurance Coverage?
Because your risks may be slightly different from the risks of the firm down the street, it is important for you to be able to receive a custom policy that is tailored to the needs of your firm. Talk to your insurance agent and make sure all of your most pressing risks are covered with an attorney professional liability policy.