Professional Liability Coverage for Attorneys in Lansing, MI
As a legal professional, you could be subject to claims, negligence and errors that could cause financial harm to you or another person. Whether you’re a small- or mid-sized law firm, your business has a risk of exposure due to rising expectations. In order to protect both you and your business, consider lawyers professional liability insurance. Here in Lansing, Michigan, there’s a one-of-a-kind hospitality, including from our firm L Squared Insurance Agency. Contact one of our agents today to get started on your lawyers professional liability coverage.
What Is Lawyers Professional Liability?
Lawyers professional liability insurance helps protect attorneys and law firms against the potential risks they face. This coverage can be tailored to your firm’s specific needs and liabilities, which could include:
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Performing notary public or title agent services and giving investment advice
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Using new technologies, such as storing digital documents, filing electronic documents and using mobile technology (i.e., cyber liability risks)
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Practicing in areas of law that may be new or unfamiliar to you
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Moonlighting or performing work pro bono
What Does Professional Lawyers Liability Insurance Cover?
Purchasing lawyers professional liability coverage can help protect your practice against various risks. While there are many coverage options available, typical policies include:
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Protection from demands, suits or proceedings for damages or injunctive relief
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A “claims-made” or “claims made and reported” policy option
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Defense against claims alleging wrongful acts (wrongful acts and claim definitions are broad, andpolicies can include a “duty to defend” or “non-duty to defend” rule)
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Extensions to pro-bono or moonlighting work, or “cocktail party” advice by lawyers
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Advance of defense costs, even if allegations are found to be groundless
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Coverage for nonclient claims
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Arbitration of a coverage dispute between the insurer and the insured
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Punitive damages coverage, or coverage of fines, statutory penalties and sanctions
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Limits on deductibles, or deductibles treated on an aggregate basis
How Much Does Lawyers Professional Liability Cost?
The cost of lawyers professional liability insurance varies. Cost is typically quoted on a per-attorney basis. The following factors can affect the cost of coverage:
Talk with your agent at L Squared Insurance Agency to discuss the potential cost for your coverage.
Contact Us Today!
At L Squared Insurance Agency, we want to help you build the best coverage for you and your business. Contact us today to speak with an agent about lawyers professional liability coverage!
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