Types of Malpractice Insurance


For professionals such as lawyers which are exposed to a high level of risk, law malpractice insurance is an absolute necessity. Here are the two insurance elements that make up a complete malpractice insurance package for lawyers.

Errors and Omissions

Errors and omissions insurance covers professionals that provide services and advice to clients. If a client files a negligence claim alleging that the actions of the lawyer caused the client to lose money, errors and omissions coverage will cover the costs to defend the case. This insurance also cover if a client alleges that you failed to perform your duties correctly. Whether the claims are groundless or not, errors and omissions insurance has you and your practice covered, including paying any settlement costs.

Prior Acts

Insurance coverage for prior acts extends your liability coverage to before the start of the policy. This type of coverage is necessary to protect you from claims made based on professional services delivered prior to the policy’s inception. Prior acts insurance fills in the gap between the time of service and the actual claim.

Both errors and omissions and prior acts work together to form a solid malpractice insurance policy. Whether your law firm is small, medium, or large, your law malpractice insurance should include these two elements.