The occupation of a lawyer is a risky one if they are not insured with errors & omission lawyers. They are putting themselves at risk for financial devastation if they were to be sued by an unhappy client who feels there was error on the part of the lawyer. If this error caused a case to be lost and the client suffers emotional or financial crisis, they can hold the lawyer liable.
No matter what your business or occupation is, E&O insurance is crucial. For a doctor, this type of insurance is the same as medical malpractice insurance. It’s a way to protect yourself financially in a case where an error was made and the client holds you accountable. Operating a law firm or practicing law without E&O insurance is taking a big risk. Nobody is perfect and at some time, mistakes are bound to happen. Lawyers are especially vulnerable to lawsuits by angry or disappointed clients they may have represented. They may try to find any little mistake that the lawyer may have made and file suit against them.
Lawyers themselves know first hand the high costs of court and legal expenses. Having errors & omission lawyers insurance will help cover those costs.
A good insurance agent that specializes in insurance for businesses and professionals can help you find the right kind of insurance that offers proper coverage for E&O.
To learn more about Axis, click here.