Walker & Associates: Legal Malpractice Insurance Designed to Protect You and Your Firm
Professional Liability insurance, also known as Legal Malpractice insurance, is perhaps the most important insurance policy you will purchase as an attorney or law firm, particularly in today’s business environment. A recent study shows that as law firms drive for growth and stability in a highly competitive market, they must be vigilant on how their decisions expose them to increased risk and malpractice claims. In fact, conflicts of interest lead as a top driver of error and omissions claims as an increasing numbers of law firms leverage opportunities for growth and expansion either through mergers and acquisitions or by bringing in lateral hires.
Other sources of Professional Liability insurance claims involve legal work performed on trusts and estates, followed by corporate and securities law, business transactions and real estate. In addition, cyber exposures are an emerging risk that Attorneys and Law firms must manage to stem the potential for data breaches that can compromise the personal and financial data of clients. This exposure could result in significant expenses for lawyers and their practices in the form of notification costs, forensics, credit monitoring, reputational management, and third-party liability, among other expenses.
Tailored Policy, Risk Management Support
At Walker & Associates, we specialize in providing Professional Liability insurance for individual Attorneys and small Law Firms. We bring decades of experience and knowledge to the table, enabling us to do the best we can to make sure our clients get more for their premium dollars. This involves securing a tailored policy from a top-rated, financially sound insurance company based on your specific needs and exposures. It also involves providing risk management support to stem losses and minimize expenses, including:
- Assisting with client management and reviewing engagement letters for a demanding client
- Performing contract reviews
- Facilitating a loss prevention program
- Serving as your advocate in the claims process
You can be assured that we are here to help you every step of the way. In addition, our staff supports several professional associations, keeping abreast of current trends and concerns in the legal arena that could potentially increase your professional liability risk exposure.
Policy Features Available
As we work with a number of leading insurance companies, we’re able to customize and enhance your Professional Liability coverage. This may include:
- A Broad Range of Limits and Deductibles
- Disciplinary Defense Up to a Certain Amount
- Extra Claims Expenses
- Subpoena Assistance
- Privacy Breaches
- Prior Acts Coverage
- Non-Practicing Extended Reporting Form (for attorneys who have retired or have ceased practicing law)
In addition, we are a full-service independent agency and can take care of all your personal and business insurance needs – from Auto, Homeowners, and Life insurance – to your firm’s General Liability, Property, Business Auto, Management Liability and Workers’ Compensation coverage. Working with one insurance agency gives you the benefit of having professionals who are dedicated to helping you protect your business from all angles of risk.