LAWYER PROFESSIONAL LIABILITY

Lawyers professional liability (LPL) insurance, also known as errors and omissions (E&O) coverage, provides law firms with protection from costly malpractice or negligence claims. Clients may file lawsuits against their attorneys for certain mistakes, such as misfiling documents and other types of oversights that can result in major payouts from the law firm. Professional liability insurance generally covers certain legal costs, including financial loss incurred by third parties that arise from acts, errors and omissions when providing professional legal services.

For lawyers, professional liability insurance covers the following types of claims:

• Legal malpractice, such as allegations contending the firm failed to perform its duties ethically and/or professionally. Examples include negligent advice leading to an SEC violation or exposing the client to a perceived conflict of interest

• Missing deadlines by failing to timely file a case according to the laws of a particular state or jurisdiction. This is especially common in personal injury matters

• Breach of contract – the attorney allegedly fails to honor the signed retainer agreement or engagement letter he/she provided to the client.

• Non-admitted product tailored for each individual risk
• Broad definition of Professional Services
• Broad definition of Insured, including Independent Contractors
• Disciplinary Proceedings Coverage
• Personal Injury Coverage
• Pre-Claim Assistance and Expense Reimbursement
• Pre-approved Defense Counsel for Select Firms
• Subpoena Coverage
• And much more