Lawyers Professional Liability

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Because you’re an Ohio legal professional…

… you understand how difficult it can be to not have enough insurance to cover lawsuits, but have you spent any time thinking about your Ohio lawyers professional liability insurance? You can’t predict when a client will decide that you did a poor job representing him/her and attempt to sue you because of it. Perhaps, you believe you are properly covered, but if you’re wrong, this could be a very costly mistake. Here’s a story that demonstrates how crucial it is to have the right coverage.

For many years, Sherman R. was a highly regarded Cleveland area lawyer. With his partners, he helped clients with a variety of legal issues with few problems or complaints. But sometimes the most trusted and competent law firms have to deal with frivolous lawsuits. Sherman learned this the hard way.

A client of Sherman’s was seeking a major settlement after he was injured on the job. But an investigation showed that the client was negligent while operating power equipment in a warehouse. As it turned out, the client’s forklift accident happened because he bet a fellow employee he could lift a certain amount of weight without tipping the forklift.  

The forklift started to tip, tilted sideways and then fell over. The employee’s leg and arm were trapped under the machine, resulting in serious injuries. As a result, when the insurance company discovered what actually happened, they wouldn’t pay the claim. Sherman advised the man his case wasn’t very strong, but the man believed he did nothing wrong and the insurance company’s decision was in error. Sherman decided to take the case, but his client lost. Several weeks later, Sherman was notified that the man was suing him for incompetence. Despite the fact the claim was absurd on its face, Sherman assumed substantial legal fees. Fortunately, he had the proper type of attorney professional liability insurance.   

What Exactly is Liability Insurance for Lawyers?

This coverage is often referred to as errors and omissions, but in reality it’s lawyer’s professional indemnity (liability) insurance. This protects your practice from a variety of errors or mistakes you or your employees might make. Misconduct and other issues faced by today’s legal professionals can also be covered. It’s sort of like a lawyer’s malpractice insurance. 

Who Should Consider Purchasing Ohio Lawyers Professional Liability Insurance?

You need to protect yourself from all sorts of lawsuits if you are a legal professional. Sherman’s story demonstrates how much it can cost you to defend yourself against even the most frivolous lawsuits. Any legal professional who deals with clients should be covered. This includes:

• Paralegal workers
• Secretaries
• Administrators
• Company attorneys (hired lawyer professional indemnity)
• Volunteer workers

What Coverage is Included in Most Attorney Professional Liability Insurance Policies?

Liability insurance should cover many issues, including data breaches because significant damages could result if your clients’ personal information was stolen. Insurance can protect you when data is stolen from smartphones, computers, tablets and laptops.

You should also protect yourself from cyber attacks on the Internet, something that’s becoming more common. Many lawsuits and fees can result from things like reputation management and media reporting.

What are the Available Insurance Options?

Options for coverage are determined by the kind of law you practice and the size of your business. Some of the insurance options you should consider are:

• Lateral hire covers prior acts of lawyers who are new to your practice
• Retroactive dates
• Prior acts
• Deductible options can include loss only, annual aggregate or per claim
• Outside the limits defense 
• Inside the limits defense
• Step rating for premiums
• Directors and officer’s liability insurance (D&O) covers corporate officers’ actions that end in damage and legal claims. This includes misconduct and intentional acts.
• Extended reporting periods
• Extending liability limits
• Innocent partner insurance

What’s the Correct Type of Ohio Lawyers Professional Liability Insurance?

So, there are many things to think about concerning professional indemnity coverage. When you have an experienced and knowledgeable insurance professional working with you, you can be certain all risks will be covered. In Ohio for more than 50 years, The RC Cook Insurance Agency’s independent agents provide customers with a variety of insurance options because we are not just the branch office of an insurer. We stand for you and what’s important to you.

You will enjoy many benefits with The RC Cook Insurance Agency, like: 

• Wide range of coverage options, deductibles and limits
• Loss prevention hotline
• 24/7 dedicated claims support
• Complimentary risk management service
• Risk management website access
• Nationwide coverage

A full-service agency, The R.C. Cook Insurance Agency is ready to meet all of your insurance requirements. Receive your free online quote for attorney professional liability insurance by clicking here. Or call (330) 296-3628 for more information.

Does the cost concern you?

Our specialty is local businesses, specifically local owners like you. We can provide everything you need, including:

• You can spread out payments and improve your cash flow with our monthly payment options
• Coverage of full-time workers, temporary staff and independent contractors
• Claims are responded to quickly, especially when it comes to insurance claims
• Coverage is customized to fit your business and the specific risks involved
• We have agents who are knowledgeable, passionate and provide exceptional service
• Quick and easy online quotes or assistance from knowledgeable agents 
• Immediate coverage