Claris Law Legal Blogging Community

Editor: Denny Thaxton
Profession: Legal Malpractice Liability

Category: Legal Malpractice News

Lawyers, once you have decided to obtain Malpractice coverage, there are a couple of things to look for in your policy. A broad definition of the insured should include past, present and future members of the firm, of-counsels, heirs, executors, administrators, and legal representatives in the event of death, incapacity or bankrupcy.

There should be automatic coverage for any attorney who joins the firm during a policy period. Also, an innocent insured provision will help protect you if someone in your firm is invovled in illegal acts, since this would not be insured in the policy. This provision would help to protect the other firm members. On the same note, a loss only deductible is the best deductible plan to have because you would not have to pay in a frivolous claim situation.
Make sure that you check for full prior acts coverage. Most policies will have this, but it is good to make sure. Look to see if the policy has split limits-per claim limit and an aggregate claim limit. Most A insurance carriers will have provisions like these included, but better to be safe than sorry.