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Is Coverage Available for an Attorney Practicing Part-Time?

Posted by Joe Barnard, CPA on Dec 5, 2018 3:08:00 PM
Joe Barnard, CPA
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No matter how much time you devote to practicing law, you’re susceptible to error, which could lead to a professional liability lawsuit. 

E&O insurance protects attorneys regardless of practice size or number of cases handled. Even if you only handle a few cases each year, there’s no guarantee that you won’t face a malpractice claim from a client. After all, mistakes happen, and some clients may be less than honest. You don’t want to be stuck without a safety net in the event of a claim. 

At the end of the day, there’s no need to take unnecessary risks when you have options that protect your practice, your assets, and your reputation. 

 

Work A Little, Save A Little

The best thing about professional liability insurance for part-time attorneys is the discount that some carriers provide. Insurers we work with at ProDefender reduce their premiums for part-time practitioners by up to 50%.  

The discount is granted if you work on average less than 26 hours per week. That threshold can vary from company to company, so be sure you know what the requirement is for your professional liability carrier.

If the rate discount or hours-worked threshold you’re offered is low, it may be a signal that you should look for an alternative.

 

Additional Education Opportunities

Carrying E&O insurance means you’ll have access to extra resources. Many insurers provide materials, resources, and even practice guides to help you improve your risk management practices and reduce your risk of a claim. Some insurers even provide access to mentors and hotlines that offer guidance and support.

 

Understand the Limits

Even if you’re practicing part-time, it’s important to ask questions and ensure you have the proper coverage for the type of law you practice.

Make sure you are clear about what is covered and what is excluded. Read your policy thoroughly, and ask your insurer to clarify if you have further questions or don’t understand something.

 

Other Considerations

If you’ve previously practiced full-time or intend to in the future, be sure to communicate all changes in your practice to your insurer to ensure your coverage is continuous and complete. It’s important to take the time to be thorough when completing your application for a legal malpractice policy—especially if you’ve never had coverage before.

Remember, just because you are only practicing part-time doesn’t mean you can’t find affordable coverage. Even if you’re only working part-time temporarily, you want to ensure that you’re completely covered with no lapses.

 

If you’re considering changes to your practice and aren’t quite sure about how to handle your E&O coverage, ProDefender can help. Contact us today for help understanding your options. 

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Topics: Attorney Professional Liability Insurance


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