As any practicing attorney operating here in Austin knows, it’s vitally important to secure professional liability insurance, as it is a critical element needed in order to protect your practice along with your professional reputation. There is much concern about lawyers who knowingly, or unknowingly, do not carry sufficient malpractice coverage. On a professional note, by not having attorney liability insurance, you risk the possibility that some referral services won’t refer you cases.
Many times, a request for proposal for legal services also requires that you have coverage in place. Law firms and other attorneys who retain lawyers for per diem or contract work will require that you have some amount of malpractice coverage before they will hire you. Austin Malpractice Insurance is just what you’ll need to keep those offers coming in.
Attorneys are often under the threat of a malpractice claim
Not surprisingly there have been an alarming increase in the frequency of claims filed in recent years. This should be a concern to every practicing attorney because even though claims of this type often lack merit, in the end they can still be quite expensive to defend. Realize that it only takes one viable claim to have a devastating financial impact on an uninsured lawyer.
As a lawyer, protecting your clients is your primary responsibility. The first rule is never leave your clients unprotected in situations where negligence on your part may cause damage to their case in some way. Another thing to consider is the fact that malpractice claims can come without warning, be difficult to foresee, and totally unexpected. A single claim can also wipe out years of work spent building a successful practice, and could wind up costing most or all of your personal assets as well.
Even the best lawyers get sued for malpractice. Beware of clients who may have fired their previous counsel, been turned down by other lawyers, or have a history of negative experiences with the legal system in general. Never neglect a client because you feel that the case is small and meaningless, unlike other, larger matters that are pending. While you may never have to use your Austin Malpractice Insurance policy, it’s would be extremely risky not to have coverage in place.