A Law Firm Known For Getting Results

  1. Home
  2.  » 
  3. Legal Malpractice
  4.  » What is legal malpractice insurance?

What is legal malpractice insurance?

It is not a secret that physicians generally invest in medical malpractice insurance to safeguard their personal liability in the event that a patient sues for causing them harm. However, few people are aware that lawyers regularly invest in the same kind of malpractice coverage.

Legal malpractice insurance is a financial investment that allows attorneys to cover losses sustained by clients who have been wronged due to allegedly substandard approaches to professional representation.

The assumptions made by such coverage

Individuals and companies invest in professional insurance coverage for two primary reasons. First, they believe that they are at risk of incurring a specific kind of liability. Second, they expect that someone may try to hold them accountable for alleged wrongdoing.

Lawyers, like physicians, understand that because they are human, it is inevitable that they will make mistakes. In the event that a mistake leads to a client’s harm, a lawyer who is covered by malpractice insurance will be less likely to incur personal liability when covering the losses suffered by the wronged party. Essentially, the very fact that most lawyers carry malpractice insurance illustrates that malpractice happens and that lawyers expect to be held accountable if they misstep in ways that cause harm.

If you are concerned that an attorney’s substandard approach to legal representation may have directly contributed to harm you’ve suffered, it is possible that you are entitled to compensation. Whether your claim would be covered by an attorney’s legal malpractice insurance or their own personal assets is primarily their concern. Your concern should be seeking legal guidance so that you can make informed decisions about whether or not to pursue legal action against your former attorney.