A Word From Our Sponsor On What Is Covered By Attorney Professional Liability Insurance

Lawyers have a great responsibility to their clients. They have to make sure that documents are filed with the court on time, that the client’s best interests are represented, and that the client is informed of every step the attorney takes on their behalf. When an error is made, a client may choose to file a malpractice lawsuit and if the attorney has attorney professional liability insurance, the insurance company will conduct an investigation. Liability insurance covers the financial liability that a lawyer may be subject to when a costly mistake is made that hurts their client. This type of insurance covers a number of risks that lawyers are exposed to everyday.
Failing to have an attorney professional liability insurance can ruin the financial security of the law practice, even leading to bankruptcy. While there are different forms of liability insurance, a basic policy will provide protections for negligence, breach of contract, breach of fiduciary duty, failure to respond to a legal document leading to a judgment being made by the judge in the case, and other issues of liability. Sometimes, mistakes can occur, and it is important for attorneys to protect themselves with attorney professional liability insurance. The insurance will attempt to settle with the client if the claim is valid, saving the attorney or law firm the costs of going to trial. It is important for attorneys to evaluate a liability insurance policy to make sure that it provides all the coverage that their law firm needs.