Many businesses benefit from an errors and omissions insurance policy. Lawyers are no exception. Mid size law firm malpractice insurance for lawyers covers the errors and omissions for firms with 10 to 49 attorneys. The reasons for solo practitioners to have malpractice insurance apply for mid-size firms as well.
While obtaining malpractice insurance is optional in most states, there are now disclosure laws in over half of them. Those states require lawyers to disclose whether or not they have malpractice insurance and make clients sign a disclosure statement.
Most insurances do not cover past incidents, but malpractice insurance often does if there was coverage during the time. Lawsuits arising from an uncovered time are the sole responsibility of the practicing attorney.
Not every state requires attorneys to carry malpractice insurance. Currently, the only state legally requiring all lawyers to have malpractice insurance is Oregon.
As a practicing attorney, you probably have given little thought to receiving a legal invoice. It is wise to hire an outside attorney to defend you in a malpractice lawsuit.
Attorneys understand the financial aspects of any legal case. Protect your firm with mid size law firm malpractice insurance for lawyers. Being on the other side of the invoice is easier with insurance coverage.