As legal professionals, attorneys constantly juggle various responsibilities and concerns. From managing cases to maintaining client relationships, their days are filled with complexities. However, amidst the myriad of issues that occupy their minds, one aspect that often keeps attorneys up at night is professional liability insurance. While it might not be the most glamorous topic, it holds significant importance in safeguarding both the attorney and their firm against potential risks and liabilities.
Read MoreLawyers professional liability insurance, also known as legal malpractice insurance, covers claims arising from errors, omissions, negligence, or misconduct in the provision of legal services. While the specific areas of practice (AOPs) with the highest and most severe claims may vary over time and depend on various factors, certain practice areas tend to carry a higher risk.
Read MoreThere are benefits to admitted and non-admitted insurance carriers in today’s market depending upon the circumstances. Admitted carriers are licensed by the state and must comply with their state’s regulations, which verify policy forms, rates and requirements. Non-admitted insurance carriers, also known as surplus lines carriers, are not licensed or regulated by the state insurance department and typically provide more flexible coverage for risks that are considered high-risk or hard-to-place.
Read MoreOver the past year, law firms and their insurance carriers have experienced a rise in the frequency and severity of high-exposure legal malpractice claims. Today, lawyers need to have a strong and proactive risk management plan in place to prepare for a potential claim.
Read MoreEach year, your law firm clients pay a premium for professional liability coverage. And many of those clients may remain claim free year after year. Are they entitled to a reward for good behavior?
Read MoreProfessional liability coverage can protect your client attorneys and their firm from costly malpractice claims.
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