PROFESSIONAL LIABILITY

Lawyers Professional Liability Insurance

What Is Lawyers Professional Liability Insurance?
Who Needs Lawyers Professional Liability Insurance?
Why Do Attorneys and Law Firms Need LPL Insurance?
Lawyers Professional Liability Insurance with CSRisks
Coverage Eligibility
Policy Highlights
Optional Coverage Enhancements
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Monarch E&S is proud to offer executive, professional and cyber liability coverage through our sister company, CSRisks. CSRisks is a leading executive, professional and cyber liability wholesale insurance brokerage. Their knowledgeable experts provide analytical capabilities, a consultative approach and expert insurance broking services. With access to over 30 A rated insurance carriers, both admitted and non-admitted, their specialization means they quickly provide the cost-effective coverage and analysis retail agents rely on.

What Is Lawyers Professional Liability Insurance?

Lawyers Professional Liability (LPL) coverage protects individuals and firms against claims of negligence, errors or omissions that cause financial harm to another person or party. As a legal professional, you may be committed to your clients, but they may not always return the favor. Whether a small or midsized law firm, your business has potential exposures as client expectations are increasing and malpractice lawsuits are becoming more common. Your business and financial security may depend on how well-protected your firm is from a lawsuit or claim.

Who Needs Lawyers Professional Liability Insurance?

Solo lawyers, moonlighting attorneys, corporate attorneys and any small to large law firms all need Errors and Omissions Coverage. The definition of who is insured under a professional liability policy typically includes current, former and future: principals, partners, officers, members and employees of the firm and the “Named Insured” (the firm itself). The definition may also include “Of Counsels” and contract or temporary employees working under the supervision of an insured.

Why Do Attorneys and Law Firms Need LPL Insurance?

Lawyers need malpractice insurance to protect themselves and their clients from the costs of a malpractice claim. Malpractice insurance covers the costs of defense and/or settlement if a client sues for malpractice or negligence. Without insurance, a single claim could force a lawyer to sell assets, drain savings, or even declare bankruptcy.