Lawyer’s Professional Liability Insurance in Minnesota
What is Lawyers Professional Liability Insurance?
Lawyers professional liability insurance (errors and omissions insurance for legal professionals) is a type of commercial insurance that provides protection for attorneys and legal professionals. Whether you have a large firm with hundreds of attorneys or are a single lawyer with your own practice, professional liability insurance for lawyers will protect you in legal malpractice cases where “wrongful acts” are committed during engagement of legal services.
How Lawyers Professional Liability Insurance Works
Legal malpractice suits are becoming more common every year. Many complaints that plaintiffs bring in these cases include:
- Administrative errors
- Abandonment of representation
- Failure to address client’s needs
- Breach of fiduciary duty
- Conflict of interest
Professional lawyers liability insurance protects your firm’s financial assets by lessening the financial burden of the fees and any subsequent claims or settlements that result from a malpractice suit against your firm. Malpractice suits can be brought by any client that has sustained damages as the result of the mismanaging of their legal case, contract or other legal service. This type of insurance is designed to protect your firm should these cases be brought against you.
Who Needs Lawyers Professional Liability Insurance?
In short, anyone who practices law in the state of Minnesota can benefit from this type of coverage. These commercial insurance plans can cover sole proprietorships, large firms with multiple attorneys, part time attorneys and even attorneys who work a day job and moonlight by providing legal services to clients after hours. Coverage can be drafted based on the size of your firm and the types and scope of legal services that you provide.
Obtain Lawyers Professional Liability Insurance in Minnesota?
Need lawyers professional liability insurance in Minnesota? Why not work with a company who has partnered with Minnesota law offices for decades? Our experienced commercial insurance experts can help you create a plan that perfectly fits your law firm. Contact our insurance agents today.