Lawsuits against legal practices are rising every day. Unfortunately, when clients lose their cases, they sometimes decide to sue their attorneys as a way of trying to pay their legal fees. In addition, lawyers sometimes face litigation related to workplace issues. Even when these cases have no merit, mounting a defense could cause you to lose their business or, even worse, your personal assets.
Any attorney in the private practice of law is at risk of being sued for malpractice. An allegation of malpractice can cost thousands of dollars in defense costs that could put significant financial strain on a lawyer or law firm. If a claim does arise, malpractice insurance (aka professional liability insurance) can serve as an important financial buffer for the lawyer and law firm.
Why You Need Attorney Liability Insurance
Probably the most common claims brought against lawyers are those alleging simple, straightforward mistakes, including administrative errors or substantive errors of law. Also frequent are claims alleging that the lawyer completely and improperly abandoned a representation or entirely failed to address the client’s needs in any way. Increasingly, lawyers face suits in which the primary or sole allegation is one of breach of fiduciary duty, often because of a conflict of interest, and frequently based in duties arising through implication. In addition, claims are also made as a result of fees suits brought against clients, as well as claims brought by non-clients.
Lawyer Professional Liability Insurance is relevant to:
- New & Established Firms
- Firms of All Sizes
- All Areas of Practice
- Newly Admitted Attorneys
- Part-Time, Moonlighting, and Employed Lawyer Plans
- Hard-to-Place Firms