Things to Know About Prior Acts Coverage and the Retroactive Date

Things to Know About Prior Acts Coverage and the Retroactive Date

Professional liability insurance is essential for attorneys to operate a successful law practice and adequately protect their careers. An aspect of these policies that can be confusing is the prior acts coverage and retroactive date. Understanding every component of your policy and what to look for is the best way to ensure you are adequately covered.

Do You Have Gaps in Your Legal Malpractice Insurance?

Do You Have Gaps in Your Legal Malpractice Insurance?

It’s great to have professional liability insurance that covers your day-to-day work, and if you’re settled at a firm that provides coverage, you may feel like you’re safe and protected. Nowadays, however, attorneys’ careers are more portable and flexible than ever. Maybe you did a few years of contract work before you joined a firm; maybe you still do some pro bono or other extra work on the side. As your practice changes over time, your coverage needs change, too. Do you know if you’re covered now for all the work you do or have done?

Does Your Legal E&O Policy Provide the Protection You Need?

Does Your Legal E&O Policy Provide the Protection You Need?

Let’s face it: no one enjoys reading insurance policies. The fact is, however, that skipping this important step in protecting your legal practice and personal assets can have disastrous consequences. Be sure you understand the terms of any professional liability policy before you purchase it. If you’ve already purchased errors and omissions insurance and aren’t completely clear on its terms, take the time now to look over your policy, and consider whether it’s really giving you the protection you need.

5 Tips for Avoiding Legal Malpractice Claims

5 Tips for Avoiding Legal Malpractice Claims

As a practicing attorney, you understand the importance of ensuring that you’re serving your clients as effectively as possible. Despite your best efforts, the odds are you’ll face a malpractice claim at some point. A substantial percentage of attorneys are subject to professional liability claims each year, and the average attorney faces three such claims throughout a legal career.1 The good news is there are steps you can take to minimize your risk of legal malpractice claims and resulting losses.

Should You Be Shopping Your Malpractice Insurance?

Should You Be Shopping Your Malpractice Insurance?

If you have professional liability insurance for your legal practice, you’re off to a great start. But once it’s in place, should you “set it and forget it?” Or do you need to shop the coverage on every renewal? “The rule of thumb I tell my clients is to get a comparative quote every three to five years,” said Joe Barnard, Director of Professional Liability Programs for ProDefender. “Things can change in the insurance market over that period of time, and you may find better pricing or a better fit for the coverage you need.”

How to Compare Competing Malpractice Insurance Policies

How to Compare Competing Malpractice Insurance Policies

If you’re opening a new practice, just getting around to buying professional liability insurance, or shopping for a better policy, asking the right questions is critical to getting the best protection and value. Before you sign up, be sure to know the answers to these questions.

Top 5 Reasons Every Lawyer Should Have E&O Insurance

Top 5 Reasons Every Lawyer Should Have E&O Insurance

Errors and omissions (E&O) insurance policies cover professionals, including lawyers, for their losses or liabilities if they make a mistake or commit malpractice. Although it can be uncomfortable to think about needing this kind of protection, E&O insurance is a vital part of your overall professional plan.

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