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Liability Insurance FAQ
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Attorney Liability Insurance

Regardless of their practice area, lawyers need attorney liability insurance. Such insurance protects the lawyer, and their clients, in the event of an error which damages the client’s interests. Liability insurance can prove to be indispensable if an attorney is ever accused of negligence, failure to perform their duties as an attorney, or any type of malfeasance. Even if such accusations prove to be groundless, the attorney would still need to hire an attorney to defend them and could miss considerable time at work, making this insurance an excellent method for maintaining financial security during a difficult period.

Most endeavors occurring within the purview of a law firm are a group effort. In most firms, more than one attorney may have responsibility for any given matter. Sometimes a partner will delegate work to an associate, or perhaps a paralegal and other support staff will also manage certain aspects of a particular matter. Some cases are so large and complex that it is difficult, if not impossible, to be intimately familiar with every component. With so many different individuals involved, it’s easy to see that mistakes can sometimes occur. When they do, liability insurance can help preserve the firm’s integrity.

Attorney Liability Insurance - A Necessity?

Attorney liability insurance is a necessity, and lawyers will typically need to disclose quite a bit of information to any prospective insurance carrier. They may need to provide detailed information concerning their firm’s docketing system, so that the insurer understands how the firm endeavors not to miss deadlines and successfully tracks larger projects. Attorneys who work alone in a solo practice can even ask their prospective insurer for tips on how to strengthen their docketing system so as not to miss deadlines and improve insurability when there is not a second pair of eyes available to track deadlines.

Attorneys who are looking at purchasing liability insurance for the first time, or who may be shopping for a new insurance company, should consider having a Risk Management Audit. Such an audit consists of an independent professional coming to the law firm to review policies and procedures and make recommendations that can also improve insurability.

Attorney Liability Insurance - Risk Management Audit 

Attorneys who are looking at purchasing liability insurance for the first time, or who may be shopping for a new insurance company, should consider having a Risk Management Audit. Such an audit consists of an independent professional coming to the law firm to review policies and procedures and make recommendations that can also improve insurability.

This is necessary insurance that all responsible legal professionals should carry. It enables the lawyer to practice with confidence, knowing their interests are protected.