Professional Indemnity
Professional indemnity insurance protects you — and your personal assets — from damages and claims alleging misrepresentation, breach of contract or wrongful business practices.
What does professional indemnity insurance for lawyers cover?
It covers many expenses usually not provided for by your general liability policy, including:
- The cost to hire experts to guide you through the investigation, negotiation and litigation processes
- Legal fees incurred while defending yourself and your business
- Settlements and judgments against your business
Did You Know?
Conflicts of interest, including perceived conflicts are the leading cause of legal malpractice claims, with increasing malpractice claims triggered by cyber-related events.*
There's no such thing as a one-size-fits-all professional indemnity insurance policy.
Law firms have their own unique risks, exposures and potential coverage gaps. When you engage a broker, ensure that they follow these four best practices. Your policy should:
Look for a broker who specializes in lawyers professional indemnity insurance. Be wary of those who don’t complete a thorough analysis of your law firm and potential exposures prior to quoting policy limits.
Narrow exclusions could overlap with your greatest exposures. Make sure your core business functions aren’t excluded.
The policy’s definition of professional services should include everything you do — otherwise you could be denied coverage.
When all your policies line up together, gaps in coverage will be minimized.
Let’s assess your legal liability.
Together, we can tailor a professional indemnity insurance policy to protect you from potentially devastating malpractice claims.