A Professional Liability Lawyers insurance plan is essential to keeping attorneys protected in the event a claim of negligence is made against them. Such claims are a common concern when providing legal assistance, and in many cases can prove extremely damaging to a firm’s reputation.
That’s why implementing an effective Professional Liability Lawyers policy is so important. Exorbitant legal fees associated with ongoing litigation require financial support to prevent a company from suffering grave monetary loss. This is especially true for lawyers, who routinely provide professional advice to a wide range of clients.
Common Reasons for Professional Liability Claims
Every day attorneys face a myriad of risks as they perform those duties central to their industry. As a result, a litigation can easily arise, even when no negligent act has been committed. The following are few of the more common insurance risks lawyers face on a daily basis:
- Missing appeal deadlines
- Lack of proper communication with clients
- Issues with billing and payment
- Improperly structured agreements
Of course, this is just a small sampling of the type of risks attorneys encounter when providing professional service. Even in those cases where no errors have occurred, law firms may still experience significant financial loss capable of greatly damaging future prospects.
Offer the Best Service Possible With Comprehensive Coverage
For attorneys, comprehensive insurance coverage is vital to affording the best possible service to clients. In this case, Professional Liability Lawyers insurance can ensure continued success in the legal field.