Legal Malpractice Insurance: Key Facts Every Attorney Should Know
Practicing law carries a significant amount of responsibility. Clients trust attorneys with sensitive, life-changing matters, from defending their freedom to protecting their businesses. But even the most diligent legal professionals can make mistakes or be accused of them. That’s where legal insurance plays a critical role. This form of professional liability coverage is designed to protect attorneys and law firms from the financial fallout of lawsuits alleging errors, omissions, or negligence in the course of providing legal services. Whether you’re a solo practitioner, part of a boutique firm, or managing a large team, understanding what this insurance covers and why it’s essential can save your career, reputation, and bottom line. What Is Legal Malpractice? Legal malpractice occurs when an attorney fails to perform their professional duties to the standard expected, resulting in harm to a client. This can involve: Missing deadlines (such as statutes of limitations) Conflicts ...