Lawyers are often telling architects, doctors, accountants, and many other professionals that they need errors and omissions insurance, but it is just as important for lawyers to have this important type of insurance coverage as well. Because lawyers already face a very challenging and competitive industry, it is important for them to do everything they can to protect themselves financially, including purchasing Errors & Omissions for Lawyers.
Protection Against Negligence Claims
Even if you consider yourself to be a careful and meticulous lawyer, you simply cannot predict whether or not a client will bring an errors and omissions claim against you. Not only can such a claim potentially harm your reputation, but it can also harm your law practice financially if you are not prepared with the proper insurance coverage. Errors & Omissions for Lawyers can potentially save your practice from significant financial loss if you are accused of negligence in your dealings with a client, even if those claims turn out to be completely unfounded.
Errors and Omissions Coverage Fills in the Gaps
Some lawyers may mistakenly assume that their regular liability insurance policy will effectively cover all legal cost associated with errors and omissions claims. However, most liability policies do not include this important type of coverage, so it must be purchased separately in order to fill in their insurance coverage gaps.
Errors & Omissions for Lawyers is an essential type of insurance coverage that no lawyer should ever be without.