The legal profession comes with its share of respect, but legal professionals also face a great deal of risk. As an attorney, your clients expect competence and confidentiality, and every aspect of your work from the advice you give to the paperwork you file can expose you to liability. Because of this, it’s important to have the right insurance policy in place so that you can operate your firm with confidence.
The specific insurance needs of attorneys and law firms will vary depending on the scope of their practices, but malpractice insurance — also frequently referred to as professional liability insurance or E&O (errors & omissions) coverage — should be a standard part of any insurance plan for a legal business.
E&O is a kind of professional liability insurance that can protect employees and companies from claims against negligent work and mistakes made in professional advice or services given. See Professional Liability
Commercial general liability typically provides coverage in case an injury or damage takes place on a business' property or while a business is operating. For instance, a customer could slip on the floor of your property, or an employee working at someone's home can slip and cause damage.
Employment Practices Liability Insurance typically covers companies from claims by employees alleging such wrongful acts as discrimination, wrongful termination, sexual harassment, and other employment-related issues.
Malpractice insurance serves to provide financial protection in situations related to things like misrepresentation or breaches of contract and is required to practice law in many states. In practical terms, that means you’re protected against lawsuits filed as a result of actual or perceived mistakes, inaccuracies, or negligence.
In addition to professional liability, firms may also need coverages such as commercial general liability, commercial property insurance, data breach liability, and others. If you’re looking for comprehensive insurance protection for your business, it’s important to discuss your options with a professional. Complete the request a quote form today, and we’ll connect you with qualified industry carriers that can provide you with malpractice insurance and more.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.