Law firm malpractice liability insurance (and lawyer malpractice liability insurance) are critical pieces of your risk management strategy. It helps to protect your law firm and its professionals from risks your general insurance coverage doesn’t typically cover.
Before you buy your first policy, shop around a bit for different providers, different policy types and price points. Get an appreciation for the types and scopes of coverage that apply to your practice areas. And make sure your coverage limits offer sufficient coverage without breaking the bank.
Then, as your practice grows, make sure you review your policy, your provider, and your coverage limits to make sure you’re comfortable with your exposure to legal malpractice claims.
We’ve gathered some great resources on law firm malpractice liability insurance, and we’ll continue adding to this spot in the future. Now go make sure you’re protected!