Buy Attorney Lawyer Insurance

Attorney lawyer insurance, also known as legal malpractice insurance, is a type of insurance that protects lawyers and law firms from financial losses caused by errors or omissions in their professional services.

This insurance can cover costs associated with defending against lawsuits, as well as any damages or settlements that may be awarded to the plaintiff. It can also cover costs associated with investigations, audits, and regulatory proceedings.

Some policies may also provide coverage for losses resulting from cyber attacks, data breaches, and other cyber-related incidents.

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small law practices ranges from $27 to $39 per month based on location, size, payroll, sales and experience.

Attorneys and lawyers, like any other business, face various risks and liabilities that can result in financial losses. Business insurance helps to protect their practice against these risks and provide financial support in case of an unforeseen event.

One of the main reasons attorneys and lawyers need business insurance is to protect against professional liability. This type of insurance covers errors or omissions made in the course of their professional duties, as well as any claims of negligence or malpractice. Without this insurance, attorneys and lawyers could face significant financial losses if they are sued by a client or third party.

Additionally, attorneys and lawyers need business insurance to protect against the risks of running a physical office. This includes coverage for property damage, theft, or loss of income due to a natural disaster or other unforeseen event. Without this coverage, a single event could potentially bankrupt a law firm.

Finally, attorneys and lawyers need business insurance to protect against any potential financial losses due to claims of discrimination or harassment in the workplace. Without this coverage, a law firm could face costly legal fees and settlements if faced with such a claim.

Overall, business insurance is essential for attorneys and lawyers in order to protect their practice and financial stability. Without it, they are vulnerable to significant financial losses that could jeopardize the success of their business.

While a standard attorney general liability insurance policy provides much of the coverage your business needs, there are other types of coverage for lawyers. Some of these include:

• Professional liability coverage. The advice you give is important to your clients, but if taking your advice leads to damage for a client, they may have grounds to sue you. With professional liability coverage in place, you can worry less about the financial aspects of paying claims.
• Accounts receivable coverage. You likely store important records and data for clients. If your ledgers are damaged, and you're required to research to find the data again or hire someone else to do so, this coverage pays for it.
• Computer breach. The sensitive information you store on your computer is confidential, and clients expect you to protect it. If a data breach occurs, you can handle claims against you and pay out any monetary award granted as a result.
• Worker's compensation coverage. If you have people working for you, then purchasing a worker's compensation policy is essential. This attorney lawyer insurance policy covers loss due to physical injury or sickness that is deemed job-related.
• Employee dishonesty coverage. Because the nature of your business puts clients' confidential information in your hands for safe keeping, it is important to protect your clientele from dishonest employees who might gain access to the information, resulting in your clients' loss.
• Commercial auto insurance. If you own a car, truck, SUV or other vehicle used in your line of work, this vehicle must have commercial auto insurance. For instance, if you drive to a home or hospital to visit an accident victim, the car you drive should have commercial auto insurance coverage, since it is used for work-related travel.

Premises liability exposure is often minimal since most operations are conducted off premises and most of the client contact is electronic or by mail. If clients visit the premises, they must be kept in designated areas so they cannot view or overhear conversations regarding other clients' confidential information.

To prevent slips, trips, and falls, all areas accessible to clients must be well maintained with floor covering in good condition. The number of exits must be sufficient, and be well marked, with backup lighting in case of power failure. Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls. Procedures must be in place in case mediations or conferences become emotional or violent.

Off-premises exposures arise from meetings at the customer's home or business premises, as well as from court appearances.

Professional liability exposure is extensive depending on the services the lawyer provides, the firm's credentials and experience, and the ratio of professional versus clerical employees. The exposure increases if the firm fails to conduct thorough background checks to verify employees' credentials, education, and licensing, permits clerical workers to carry out tasks that only the professionals should handle, or if error checking procedures are ignored or are inadequate. Very serious losses may result from failure to document decisions and actions or to secure client approval.

Workers compensation exposure is generally limited to that of an office. Since much of the work is done on computers, potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.

Some firms have significant off-site work for client visits, court appearances, and similar activities. Employees can be injured in an automobile or aviation accident, or from encounters with unruly clients.

Property exposure is generally limited to that of an office, although there may be some incidental storage or an area for meetings. Ignition sources include electrical wiring, heating, and air conditioning systems, wear, and overheating of equipment. The storage of reference materials and clients' records adds to the fire load. Computers and other electronic equipment may be targets for theft.

Crime exposure comes from employee dishonesty, which can be serious as lawyers and their staff possess unique access to customers' property and personal information, including bank accounts. Potential for theft, directly or by means of identity theft, is great. Hazards increase without proper background checks, along with monitoring procedures and securing of all records to prevent unauthorized access.

All job duties, such as ordering, billing and disbursing should be separate and reconciled on a regular basis. Receipts should be issued for any cash payments received. Bank deposits should be made on a timely basis to limit the buildup of cash on premises. Audits should be performed at least annually.

Inland marine exposures are accounts receivable if the firm offers credit, computers, and valuable papers and records for clients' information and law libraries. The law library should be inventoried, with that information stored off site. Wills, deeds, and other customers' papers are typically originals and are difficult to recreate.

A morale hazard may be indicated if the insured does not keep valuable papers and disks in fireproof file cabinets to protect them from smoke, water, and fire. Power failure and power surges are potentially severe hazards. Duplicates should be kept off-site to allow for restoration in the event of a loss.

Commercial auto exposure is generally limited to hired and non-owned. If vehicles are provided to employees, there should be written procedures in place regarding personal use by employees and their family members. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained, and records kept in a central location.

Attorney and Lawyer Insurance, also known as Professional Liability Insurance or Errors and Omissions Insurance, can provide coverage for claims made against lawyers and attorneys for professional errors or negligence. Here are some examples of claims that may be covered by Attorney and Lawyer Insurance:

• Malpractice claims: If a client claims that a lawyer or attorney made a mistake or acted negligently in handling their case, resulting in financial loss or harm, Attorney and Lawyer Insurance can help cover the costs of defending against the claim and any damages awarded.
• Breach of fiduciary duty claims: Lawyers and attorneys have a duty to act in the best interests of their clients. If a client alleges that their lawyer or attorney breached this duty, resulting in financial loss or harm, Attorney and Lawyer Insurance can help cover the costs of defending against the claim and any damages awarded.
• Disciplinary proceedings: Lawyers and attorneys are subject to disciplinary proceedings by state bar associations for violations of ethical rules. Attorney and Lawyer Insurance can help cover the costs of defending against disciplinary proceedings and any resulting sanctions.
• Copyright or trademark infringement claims: If a lawyer or attorney is accused of using copyrighted or trademarked material without permission, resulting in financial loss or harm, Attorney and Lawyer Insurance can help cover the costs of defending against the claim and any damages awarded.
• Data breach claims: If a lawyer or attorney's computer system is hacked, resulting in the theft or exposure of client information, Attorney and Lawyer Insurance can help cover the costs of defending against claims brought by affected clients and any resulting damages awarded.

In each of these examples, Attorney and Lawyer Insurance can help pay for the legal costs associated with defending against the claim, including attorney fees, court costs, and damages awarded to the plaintiff.