Liability Insurance for Lawyers: Protection From Claims Arising From Acts, Errors Omissions

Lawyers’ professional liability insurance

According to one study, approximately 6% of attorneys will face a legal claim brought against them in any given year. The number of claims against lawyers has steadily increased in the past couple of decades, an increase that shows no signs of slowing. As you well know, dealing with a legal claim can be expensive and time consuming. Lawyers’ professional liability insurance can protect you and your firm from potential claims of professional malpractice, and ease the burden of any costs accrued as a result.

Coverage Legal Professional Liability

Professional liability insurance for covers errors, omissions and prior acts of individual attorneys, groups of lawyers and full-fledged firms alike. Common causes of legal malpractice claims include the following:

  • Administrative errors and substantive errors of law
  • Abandonment of representation
  • Failure to adequately address a client’s needs
  • Breach of fiduciary duty, often due to conflict of interest
  • Claims brought by non-clients

Acts Not Covered by Lawyers’ Professional Liability Insurance

While accidental acts of legal malpractice are typically covered by professional liability insurance, purposeful acts of dishonesty are not. These may include:

  • Criminal acts
  • Fraudulent acts
  • Malicious acts
  • Bodily injury or property damage committed by a lawyer or their firm
  • Claims brought by one insured against another of the same firm

The Importance of Good Coverage

A professional liability lawsuit can be damaging to your reputation, but with lawyers’ professional liability insurance, you can protect your firm from malpractice suits that arise from honest mistakes and accidental omissions.