Many industries find themselves open to lawsuit simply because of their operating risks, and many businesses operating in these industries carry comprehensive liability insurance. As odd as it may be to consider, those working in the field of law are often the target of such liability suits. Lawyers malpractice insurance is a protection against clients bringing a claim, and here are a few examples of why it is necessary.
Clients feel the attorney delayed their response or activity to a matter, creating an opportunity for an adverse judgment against them.
Clients believe the friendships, relationships or connections revolving around their case have created conflicts of interest in which their attorney did not give their matters priority.
Clients believe the cost of the attorney’s fees and court costs are unreasonable and cite a lack of disclosure.
Clients have found clerical or administrative errors which they believe contributed to an unfavorable resolution of their case.
In the event of a lawsuit, the time and effort to resolve the matter for both parties can be quite costly. Carrying lawyers malpractice insurance takes the brunt of the financial strain. A comprehensive policy should help pay for the costs of your legal defense, assist with the court fees and contribute funds in the event of judgment or settlement against your practice.