Attorneys need special insurance in order to cover any type of error or omission that may occur during their work. This insurance is called Attorneys Professional Liability Insurance. This type of insurance, much like malpractice insurance for doctors, can help lawyers remain solvent in the event of a lawsuit. There are certain occurrences which this type of insurance covers.
Everyone makes mistakes, no matter how hard they work. Accidents are bound to happen eventually. An error, no matter how small or large, should not mean the end for an attorney. Attorneys Professional Liability Insurance pays out in the event that an error occurs during or related to an attorneys duties representing a client. These errors can include inaccurate billing, errors during court proceedings or inaccuracies in paperwork.
In the legal profession, leaving relevant information unsaid is a big problem. Whether it is forgetting to advise your client of rights they may have or failing to tell a client about the true cost of services, an omission can be grounds for legal action. In the event that this occurs, this type of errors and omissions insurance can help the attorney pay their fees and penalties.
Attorneys Professional Liability Insurance is an important policy that any insurance agent should offer. This type of insurance allows an agent to give any clients in the legal profession the coverage they need.