Nobody knows better than an attorney the risks of getting sued. And no matter how talented, dedicated, or qualified they might be, lawyers can still make mistakes. When dealing with the emotions, expenses, and legal consequences that come out in a court battle, the costs of a mistake can be high indeed. Lawyers’ professional liability insurance, however, can protect you even when things go wrong.
Errors and Omissions
Professional liability insurance can also be called professional indemnity insurance or errors and omissions insurance. It is designed for cases in which a client believes that either an improperly performed service or a failure to provide service has harmed them. In the medical field, it is often referred to as malpractice, although it appears in any service industry—from shipping to real estate to legal counsel.
Mistakes and Lawsuits
Lawyers’ professional liability insurance is designed to protect against human error. If your client feels that they were misinformed or inadequately represented, it can lead to not only trouble in the courtroom but also a lawsuit against you. Even if the claim is groundless, defending against it can be troublesome. While it’s fine to collect legal fees, having to pay them is another matter entirely.
Nobody is immune from angry clients, simple mistakes, or bad luck, and the consequences of being sued can be high. Lawyers Professional Liability Insurance can protect your firm and keep you safe from trouble.