Working in law can be a very rewarding and profitable career. One the of main reasons this tends to be the case is because lawyers are accountable for many factors, especially when handling costly litigation’s, and are generally compensated well for it. It can be expected that an occupation that requires extensive years of education, talent and responsibility, is not necessarily one that just anybody can do, and like all professions is subject to human error. Regardless of the capacity an attorney chooses to practice law, for example, a large or small law firm professional liability insurance for lawyers is a must.
Why Coverage Is Necessary
One would be hard pressed to find any professional service that does not back itself with insurance. When the stakes are as high as they are in this field, it is no surprise that insurance isn’t just recommended; in most cases it’s mandatory. For lawyers specifically, insurance can protect against the following:
- Missing or lost records or files
- Errors & Omissions
- Property damage or injuries resulting from business
- Libel and slander claims
- Loss of income
For a large or small law firm professional liability insurance for lawyers and other coverages cannot be taken for granted. Having these safeguards can allow attorneys to practice confidently and live up to their full potential knowing that common exposures will be protected against.