A lawyer may not be required to have professional liability insurance, but that doesn’t mean it makes business sense to go without it. According to one study, the number of claims each year hasn’t increased much since 2011, but the award amounts are much larger than they used to be. You, better than anyone, should know exactly what it costs to mount a defense, even against a frivolous lawsuit. Your firm does not need to be concerned with footing a bill to defend your efforts, not to mention the time involved. Find the professional liability lawyers insurance that fits your needs.
Malpractice insurance protects your business against professional negligence. Today’s consumer is more likely to sue for a number of reasons, including:
- A lawyer’s failure to communicate
- Their attorney not meeting deadlines
- An attorney’s failure to structure an agreement properly
- Billing issues
- Not filing an appeal on time
No matter how conscientious your office is, you may overlook something. Staff members miss deadlines and errors happen. Instead of leaving the outcome to chance, make sure you have the insurance plan that protects your business. Professional liability lawyers insurance is vital to the success and future of your business, whether you work alone or in a practice.