There are many risks involved with attorney practices. An essential element of risk management for attorneys is ensuring they have sufficient insurance coverage for lawyers. To practice with less worry about unexpected claims and expenses that can put their practice in financial jeopardy is provided through insurance. Lawyers face unique risks that may require additional insurance in addition to the common risks that any business faces, such as the risk of employee injury, property damage or accidents. Potential cybersecurity threats and malpractice claims are a few examples of the additional risks. No attorney is immune to malpractice claims, even if you do excellent legal work and follow the letter of the law. InsureWise can help you acquire the right insurance coverage that protects you and your practice.
Law Firm & Lawyer Insurance Coverage
Depending on your specific situation as well as jurisdiction requirements, the exact range of policies that you and your law firm need will vary. Consider the following types of insurance policies as a starting point:
– General Liability Insurance
– Business Owner’s Policy
– Commercial Property Insurance
– Business Income/ Business Interruption Insurance
– Professional Liability Insurance
– Cyber Liability Insurance
– Directors and Officers Insurance (D&O)
– Employment Practices Liability Insurance (EPLI)
– Workers’ Compensation Insurance
Legal Professional Liability AKA Malpractice Insurance
Malpractice insurance is another name for professional liability insurance for legal (or medical) professionals. These insurance policies offer coverage if you make a mistake in your professional service. If a client sues you, these coverages will help pay for your legal defense.
Insurance for Lawyers & Law Firms
As an attorney practicing law, you want to make sure you are well protected. If you encounter any problems during your career, you can have the safety net and take less of a hit. To help tailor your insurance coverage according to your specific circumstances and budget, call InsureWise and let us find the best insurance for you.
