It doesn’t matter that you are a smaller firm; you need small law firm malpractice insurance. Many insurance carriers are only interested in offering policies to large firms, because the profits behind insuring larger firms are much greater. This doesn’t mean that you should not be covered. You should, and working with an insurance company that understands this is crucial to your business.
Smaller Firms Experience Larger Losses
As a lawyer, you know that people sue for all sorts of reasons, and if their case didn’t go the way they wanted, they may sue you. Large law conglomerates have the overhead to cover any legal action against them; smaller firms do not. This is why, in many respects, malpractice insurance is more important for a smaller practice than a larger one. You do not have the extensive financial resources to cover your legal expenses and potential losses of a filed action against you.
Coverage for Your Needs
Fortunately, there insurance companies out there that are willing to consider
- All practice areas
- All jurisdictions
- Individual risks
These companies are also willing to work with you to provide affordable policies that fit within your operating budget. Secure your small law firm malpractice insurance coverage today to protect your entity, your partners, and your staff.