Attorneys rank in some people's opinions right along with used car salesmen and towing companies. It only stands to reason that someone would come up with malpractice insurance for lawyers. Even an attorney that is ethical and doing the very best for his client can miss something in the process. It used to be just 'errors and omissions' insurance for lawyers, based upon their state's standard 'code of ethics' - but as it turns out, sometimes it's not just an error, it rises to the position of malpractice. Not just a mistake, but something egregious that calls for insurance to protect the clients from unnecessary loss.



Most attorneys are not 'on the take' they truly are trying to do their best for their clients. Sometimes their best isn't good enough. The point of malpractice insurance is to offer the attorneys peace of mind as they find that they are covered by broad, current and innovative plans that expect the unexpected. Insurance companies keep their fingers on the pulse of the country's legal claims so that the coverage they write for the attorneys protects them as much as possible while still being affordable.



Many people do not realize that there are many attorneys that qualify as 'working stiffs' just like everyone else. Becoming an attorney does not automatically make you rich. It gives you marketable skills. A lower-level staff attorney runs a greater risk of losing everything in a frivolous case that charges him or her with malpractice. Fortunately, these staff attorneys are covered by the firm where they are employed under an umbrella policy. But if a lower-level attorney gets charged with malpractice and ends up costing his firm money, either in settlement funds or in higher insurance premiums, that attorney could find himself or herself looking for another firm to take them on.

Malpractice insurance for lawyers works just like all other malpractice insurance. The insurance company plays the odds. They hope that they can cover a firm and collect more in premiums than they ever have to pay out. Insurance is for peace of mind for the policy holder, but is a revenue stream for the insurance company. If the revenue stream dries up, insurance companies will either raise their rates or move to writing coverage with better odds of saving revenues.

Average Car Insurance Payment