One of the most important but occasionally overlooked aspects of a strong and long-lasting law firm is comprehensive lawyers liability insurance.
Insurance is the best way to protect your firm as it grows. Lawyers should know better than most professionals how important strong professional liability coverage can be to the longevity of their business. It only takes one claim against your firm or one of your lawyers to crush a business you have worked hard to build. Even meritless claims can zap a firm of precious resources while that firm fights to have the claim dropped.
Partner with the Best
While it may be possible to purchase lawyers liability insurance from a variety of different insurance agencies, it is always best to work with an experienced agent. Look for agents or agencies that have built and serviced policies for lawyers in the past. Some insurance agencies work exclusively with lawyers, and are capable of handling small firms that only have a handful of employees or large firms that employ dozens of lawyers. An insurance agent who knows what it is you do is most likely to know how to protect that practice. Insurance agencies that specialize in working with a particular industry have also often used statistics concerning past claims to develop the best policies at the best prices. A policy involving such comprehensive research is good business for everyone concerned.