Lawyers Professional Liability Insurance

Business professionals who offer advice or service for a fee, or even on a non-profit basis, are constantly at risk. Your attorney clients are no exception. Attorneys and lawyers are trusted to provide counseling and legal aid to their customers, making them one of the most common professionals in need in professional liability insurance. Lawyers professional liability insurance is the only fool-proof way for your clients to financially protect themselves should they have a claim brought against them by a customer. But why should they have this coverage?

First of all, more and more clients, especially large business entities, are requiring that the professionals they hire to represent them carry lawyers professional liability. Without this coverage, attorneys may lose an opportunity to gain a client. In addition, if an attorney’s client feels that the legal professional services provided failed to meet their expectations, they typically will not hesitate to take legal action.

Another reason that lawyers professional liability insurance is essential is due to the face that defense costs can be expensive. Your client may think that a frivolous case will be thrown out and they won’t have to pay damages. Even if this is true, your client will still have to pay defense fees possibly in addition to other legal fees. This can be detrimental to your client, especially if they are part of a small legal firm that doesn’t necessarily have the funds a larger firm may have.

The final reason that lawyers professional liability insurance is essential is because mistakes can and do happen in the practice of law. They can happen despite safeguards or risk management. If your client has a quality insurance program, however, they’ve already taken a step towards finding a cost-effective way to protect their business and financial security.

In the event that a lawsuit does occur, at Insurance for Lawyers (IFL) we have coverages for a wide variety of products, including Negligent Acts, Errors & Omissions, and Fiduciary Liability, just to name a few. Please call us today for more information at [phone].