For anybody setting up a legal practice, researching attorney liability insurance quotes
is probably one item on their to-do list. In fact, there is as much as a 50% chance that a private attorney that practices for 25 years or more will be the subject of at least one disciplinary complaint or professional malpractice claim.
Know the Risk Factors
Attorneys should choose a policy that will protect against the unique set of professional risks they face. For anybody comparing attorney liability insurance quotes, a great place to start is with some basic information about the types of coverage available.
In the event that a malpractice claim arises, a lawyer could face a range of issues. For example, litigators could face allegations of:
- Missed statutes of limitations
- Failure to advise
- Failure to timely file or respond
- Inadequate investigation
Similarly, transactional attorneys could face charges of:
- Clerical errors
- Drafting errors
- Real-estate transaction errors
- Improper advice
There is insurance coverage available that protects against these and other risk factors.
Comparison Shop to Find the Right Fit
Once a lawyer looking at attorney liability insurance quotes takes into account the type of risks they or their firm might encounter, it will be easier to select the policy that is most appropriate for their particular needs. Some insurance providers recognize that insurance should not be a one-size-fits-all product. They may even be able to tailor a package to suit a particular legal group. With a bit of research, lawyers should have the protection they need in no time.