What is Lawyers (E&O) Liability Insurance?
Lawyers E&O is a policy that would cover law firms and their employees against lawsuits for errors or omissions they make while representing their clients. This will protect against the cost to defend claims, pay for damages, and restore any reputational harm that may stem from any allegations you face.
Why Have Lawyers E&O Liability Insurance?
When you do anything in life, you are going to make mistakes. The claim severity that attorney’s face can be so great due to the high pressure revolving their day to day operations and what is at stake, this policy is a must. Regardless of fault, if one of your clients has a problem with your performance, you will have to defend it.
Lawyers E&O Claims Example
A law firm was hired by their client to help file a claim against an insured company for bad faith accusations in handling their claim. The law firm didn’t file the paperwork in the time allotted to contest. Due to this, their client missed out on their opportunity to recoup damages.
Coverage May Include
- Defense Outside the Limit/First Dollar Defense
- Aggregate Deductibles
- Hammer Clause
- Privacy Breach
- Access to Risk Management Services
- Complimentary CLE Programs
- Mutual Choice of Counsel
- Family Law (Divorce)
- Taxation, Estates, Trusts
- Real Estate
- Personal Injury