LEGAL MALPRACTICE INSURANCE

Legal Malpractice Insurance

Legal Malpractice is the term used for negligence, breach of fiduciary duty, or breach of contract by an attorney during the provision of legal services that causes harm to a client.
It protects attorneys and their staff when errors are alleged in their specific, specialized day-to-day practices, effecting their client(s).

Protects businesses against lawsuits filed by an outside third-party for:

  • Day-to-day work mistakes – If an employee makes a serious mistake and it ends up costing the client time or money.
  • Un-delivered or under-delivered service – A missed deadline costing client time or money or a business over-promises and under-delivers.
  • Negligence – The service provided does not meet the industry norms.
  • Costs of a claim – Lawyers’ fees, court costs, settlements, judgments, etc.

 

Although not required by law, over 66% of claims filed are against small firms. There is a 4-17% chance of being sued each year depending on practice area.