Professional liability insurance is vital to any law firm that wishes to put their clients’ needs first, and avoid any distractions brought about by lawsuits or claims of errors or omissions on their part during the commission of their services. Having a good insurance company, or agent, who is knowledgeable in the field of E&O insurance is the first step.
Most lawyers, on a day-to-day basis, are in court, or in their office, working on cases, filing reports and ensuring that their clients are satisfied with their results and efforts. The last thing they should be concerning themselves with is whether their firm or practice has the necessary professional liability insurance, or E&O insurance to protect them should they find that issues have arisen and clients are unhappy and decide to take legal action against the very people serving their legal needs.
As a law practice, it is prudent that you work with an agent who specializes in E&O and can take the time to explain the different types of professional liability insurance and help you decide which will best you personally as well as the firms needs. Not all E&O insurance is the same and the variations require gathering information in order to make an informed decision on which E&O insurance will serve all of the clients needs.
When a client sues his own lawyer, whether due to error, neglect, or any other unforeseen circumstance, it will be a relief to know that the firm has the required E&O insurance to protect the firm and its constituents.