Today almost any business, including lawyers, can find themselves facing a liability lawsuit. A professional liability lawsuit can put a firm’s assets at risk. One simple mistake could cause financial devastation, as well as end a professional career. Many lawyers don’t think they have an exposure to professional loss, or if they do, the firm will handle it internally.
Negligent Misrepresentation – An attorney for the seller of a construction company developed a sales contract that included representations about past revenue performance. The attorney did not complete proper due diligence with the sellers accounting firm, and as a result, revenues were overstated. The construction company performance, after the sale, was 50% off of projections, and the seller sued. The case was settled for $350,000.
Lawyers professional liability insurance can be designed to meet the needs of agents and their clients. Products are made to respond to the expanding needs of the legal professional in an ever-changing business environment.
At ECC we custom design solutions to meet your client’s individual needs. We tailor coverage to each firm’s circumstances, and provide you with consulting on important risk management issues. We provide attorneys with liability coverage for financial loss suffered by third parties arising from acts, errors, and omissions in providing professional legal services. We also understand the demands on the firm administrator and provide additional consulting that allows you to have the right information to get the deal done.
The best way to sell E&O insurance is to start a conversation with your client or prospect. Think about using these tools: