What is Legal Malpractice Insurance?
Lawyers are assumed to have legal expertise, and they’re expected to apply their expertise correctly when hired by clients. Should they make a mistake, they may be sued for any damage or harm their oversight causes. Legal malpractice insurance helps lawyers protect themselves from covered lawsuits that accuse them of making errors.
Legal malpractice insurance is a specialized form of professional liability insurance that’s designed for legal professionals. It generally protects lawyers from lawsuits that accuse them of doing subpar work or making mistakes. In most cases, a policy will typically pay both the legal fees and any settlements associated with a covered suit (up to the policy’s limits).
Who Can Benefit from Attorney Malpractice Insurance?
Anyone who practices law may benefit from having attorney malpractice insurance. Lawyers who have their own law firms, of course, should consider getting an attorney malpractice policy.