LAW OFFICE RISK EXPERTISE

Lawyers and attorneys are held to a high degree of professional expertise.  They are entrusted by clients for advice in handling legal matters, drafting contracts, and providing representation in legal action.  Although the overall number of legal malpractice claims is leveling off, the number of large legal malpractice claims is sharply rising.  It is imperative that attorneys and law firms recognize emerging legal malpractice risks and purchase coverage to protect against those risks.

FAQ

Do Law Offices need insurance?

 Yes, law offices have a lot to protect. They need insurance to protect their property, employees, vehicles, as well as third party liabilities.

What are some notable risks facing a Law Office?

• Malpractice: Law offices must review their services provided, the firm’s credentials, and experience in order to determine risk. Hazards can increase if clerical workers are allowed to carry out tasks that only the professionals should handle, if error checking procedures are ignored, or are inadequate.  Serious losses may result from failure to document decisions and actions or to secure client approval.
• Employee Injury: Computer related concerns include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.
• Crime: Employee dishonesty can occur as staff possess unique access to clients’ property and personal information. Procedures must be in place to prevent employees from gaining access to and taking clients’ property.  Potential for theft is great, so all law offices should include background checks, monitoring procedures, and securing of all records in their practices.
• Premises Liability: To minimize premises liability, clients should be kept in waiting areas and designated conference areas. This will also keep them from overhearing conversations including other clients’ personal information.  All accessible areas should be well maintained with floor covering in good condition.  Procedures should be in place in case conferences become emotional or violent. 

Which insurance coverages are needed for a Law Office?

Insurance coverages needed for law office include (but not limited to) Property including Business Income, Crime, General Liability, Cyber Liability, Professional Liability (Errors & Omissions), Auto including Hired and Non-Owned, Workers Compensation, and Umbrella.

How much does insurance cost for a Law Office?

Insurance premiums for law offices will vary based upon several factors.  Each policy is rated on different exposures which may include payroll, revenue, property value, location, driving record, claims history, among others.

How do I purchase Law Office insurance?

Biscayne Risk & Insurance Group can help guide you through the insurance buying process.  Contact us at 561.571.1001, quotes@biscaynerisk.com, or via the contact form below.