Perhaps you have spent a number of years practicing law for a living. You may have never had a client that was unsatisfied with the service you provided, but that’s not often the case. Most attorneys will tell you that malpractice claims are as varied as the charges that plaintiffs bring against them.
After all, if they receive what they feel is an unfair judgment, who’s most likely to bear the brunt of their dissatisfaction? Claims of all types are brought against lawyers, including simple mistakes, administrative errors or substantive errors of law. One thing is for certain; they can all benefit from having Austin Professional Liability Insurance coverage for lawyers.
Types of risks typically covered under professional liability insurance
Professional liability (PL), or a legal malpractice policy, is designed to provide coverage for claims that arise from “wrongful acts” committed in the rendering of legal services.
Whether you end up in court amidst claims alleging that you improperly handled, or worse, abandoned one of your clients, insurance will aid you in defense of such claims.
Your client may decide that you failed to address their needs in some way and the result was a lower judgment or a judgment against. Without a professional liability policy, you may find it financially difficult to defend yourself in court. There has also been a rise in suits in which the sole allegation is one of breach of fiduciary duty, often because of a client’s claim of a conflict of interest.
In general, acts covered by a PL policy usually include those committed in a variety of ancillary services regularly provided by lawyers, including services as a title agent and or title agency, or as a notary public, as well as when acting as a trustee or executor of an estate in connection with representation of a client, or acting as an officer, director, or member of a legal professional association.
An Austin Professional Liability Insurance policy is designed to assume the responsibility for responding to and defending against a claim. The policy is also designed to cover lawyers and employees of the law firm acting on behalf of the firm, and the firm itself as specified in the policy. Speak to your agent about any questions or concerns that you may have.