Lawyer’s Professional Liability Insurance: Your Legal Assurance
As Güneş & Güneş Law Office, we prioritize not only our legal knowledge and experience but also our professional responsibilities while providing the best service to our clients. In this context, the lawyer’s professional liability insurance is of great importance in terms of both protecting the rights of our valued clients and securing professional service. In this article, you can find a detailed explanation of everything you may be curious about lawyers’ professional liability insurance.
What is Professional Liability Insurance?
It is a type of insurance provided by lawyers to cover losses that may arise as a result of malpractices, negligence or misleading during the legal services they provide to their clients. While practicing their profession, lawyers may sometimes unintentionally create a situation to the detriment of their clients. This is where professional liability insurance comes into play to cover the consequences of such mistakes.
This insurance compensates the client for financial losses that the lawyer may incur in the event that the lawyer misleads the client or makes a mistake. Therefore, it plays an important role as a system that secures the interests of both the client and the lawyer.
Why Lawyers Need Professional Liability Insurance?
The profession of a lawyer entails a great deal of responsibility. Lawyers have to be very careful and attentive when making decisions that may affect the lives of their clients. However, like any human being, lawyers can make mistakes. A wrong advice, an erroneous legal action or negligence can lead to a client’s loss of rights or financial loss.
Professional liability insurance covers the financial consequences of such mistakes. In the event that a lawyer makes a mistake in providing legal services to a client, this insurance will step in and compensate the client for the damages. In this way, the client ensures that his/her rights are restored without being victimized.
Scope of Professional Liability Insurance
Lawyer’s professional liability insurance covers damages that may arise not only from mistakes made by the lawyer, but also from negligence in the performance of his or her professional duties. The scope of the insurance policy usually includes damages that may arise from the following situations:
1. Faulty Legal Advice:
When a lawyer gives his or her client incorrect legal advice, this advice may result in harm to the client. For example, the client may suffer as a result of an incorrect litigation strategy or a late filing deadline. Professional liability insurance covers the client’s damages in such cases.
2. Negligence and Delays:
If the lawyer does not fulfill his or her duties on time or if there is a delay in a transaction, the client may suffer damages. For example, a delay in a document or failure to file a required application during the litigation process may be covered by the insurance.
3. Incorrect Documentation:
Incorrect preparation of documents for legal proceedings or incomplete documents may harm the client’s interests. Insurance provides compensation for damages arising from such errors.
4. Professional Negligence of the Lawyer:
Damages caused by a lawyer’s professional negligence in defending a client’s case (for example, by failing to pay sufficient attention to the client’s claims) may also be covered by insurance.
Our Insurance Policy as Güneş & Güneş Law Office
As Güneş & Güneş Law Office, we attach great importance to the quality and safety of the service we provide to our clients. For this reason, all lawyers in our office are covered by professional liability insurance. This insurance comes into play to prevent the client’s victimization in case of any malpractice or negligence that may occur during the lawyer’s professional activities.
Our insurance policy provides a safe working environment for both you and us. In the event of any professional error, it prevents harm to you as a client and compensates for any financial losses that may occur.
Insurance Covered Situations
Professional liability insurance usually covers the following situations:
- An error or omission in a lawyer’s legal work for a client,
- Incorrect or incomplete legal advice,
- Disruptions in the litigation process, errors in documentation or applications not submitted on time,
- Other professional negligence that could harm the client’s interests.
Insurance Coverage and Compensation
The lawyer’s professional liability insurance comes into play to compensate for damages caused by the lawyer’s wrongful acts. This insurance compensates the client for his/her financial losses and redresses his/her grievances. The insurance covers any compensation claims that may arise from the lawyer’s misconduct.
As a client, knowing that the lawyer’s services are covered gives you extra confidence. Both your rights and the lawyer’s rights are covered by this insurance.
Frequently Asked Questions (FAQ)
The insurance applies only to damages that may arise as a result of errors or omissions made by the lawyer in the performance of his or her professional duties. Personal behavior or non-insurance events are not covered by the insurance.
Wrong legal advice, faulty documents, negligence during the litigation process, and any professional error that may cause damage to the client are covered by the insurance.
Insurance aims only to compensate the client for the damage suffered. If you have suffered damage because of a lawyer’s wrongdoing, the insurance will cover this damage.
The scope and limits of each insurance policy are different. However, in general, damages arising from the lawyer’s malpractice are compensated within the insurance coverage.
Conclusion,
As Güneş & Güneş Law Office, we offer all our legal services under professional liability insurance to ensure that our clients always feel safe. This insurance is not only an assurance, but also a sign of client satisfaction and trust. When working with us, you can have peace of mind knowing that you are covered from a legal and professional perspective.
You can contact us for any questions you may have.
