Professional Liability Insurance for Legal Professionals – E & O Insurance

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As a professional in the legal field, you know better than anyone how a small miscalculation or miscommunication on the part of a contractor can lead to lengthy and often extremely costly legal conflicts. Unfortunately, practicing law does not make you immune to the same types of claims, meaning Ontario legal professionals need professional liability insurance (also known as Errors and Omissions insurance) to protect their property and their practice.

Whether you run a small firm, lead a major law practice, consult independently or work within a firm interacting directly with clients, a single claim of negligence — even one that is completely untrue — can damage your reputation and cost you thousands of dollars.

Errors and Omissions coverage can be an essential asset in just such an event, ensuring that one disgruntled client won’t bring down your business.

Common Risks for Legal Professionals

Even when your intentions are only to serve your clients’ needs, it can be very easy to make a small misstep or appear to have done so in your clients’ eyes.Take a look at some of the most common liability claims levied against legal professionals and some sample scenarios:

Breach of Privacy

Private information communicated between yourself and a client finds its way into a public forum causing damage to a client’s character.

Administrative Mistakes

You prepare a will and the client alleges that the will does not represent their desires due to semantics.

Questionable Recommendations

You or someone in your firm gives a legal recommendation that turns out to be inadvisable and the client holds you liable.

Malpractice Allegations

You or someone in your firm is accused of negligence, breach of contract, or breach of fiduciary duty.

 

These are only a handful of the scenarios in which professional liability insurance would protect legal professionals from potentially irreparable damage. You owe it to yourself to do your diligence and see if you are properly covered.

Who Does Cover Advantage Protect?

If you work in the legal field and have direct or indirect interactions with clients in any way, professional liability insurance (as well as commercial general liability and Director’s and Officers insurance) may be critical for your career. Some of the most common job titles of legal professionals who could benefit include:

Lawyers

Lawyers

Paralegals

Paralegals

Legal Skills Trainers

Legal Skills Trainers

Private Legal Consultants

Private Legal Consultants

Compliance Specialists

Compliance Specialists

Bottom line: no matter what your role as a legal professional, Errors and Omissions insurance may be able to prevent you from unnecessary risk.

Get a Quote. Get Covered.

A career in law is one that can be incredibly rewarding, both emotionally and financially. Don’t let a single mistake or accusation put a fruitful career on hold; Get a free quote and secure coverage completely online in minutes.

You will have peace of mind knowing that your coverage is backed by Lloyd’s of London, one of the world’s largest and strongest insurance companies.