Legal Practitioners Insurance: Protect Your Practice with Confidence
As a legal practitioner, your expertise and reputation are the foundation of your success. However, your practice is exposed to risks and operates under a certain level of uncertainty.
Our Legal Practitioners Insurance is designed to provide tailored protection, ensuring you can focus on servicing your clients while we safeguard your practice.
What is Legal Practitioners Insurance?
Specialised cover that addresses the unique risks faced by legal professionals. It offers comprehensive protection for your legal practice, and the peace of mind knowing you’re insured against the financial impact of errors, omissions, or fraud.
Legal Practitioners Insurance Cover
All Legal Practitioners enjoy an annual amount of indemnity with the Legal Practitioners Indemnity Insurance Fund (LPIIF). This is dependent on the number of principals in the firm. The Professional Indemnity Policy of the LPIIF grants cover to the Insured in respect of defined risks and is referred to as the “Master Policy”.
Our insurance solutions cater to the specific needs of legal professionals with additional covers, including:
Professional Indemnity: Protects you against claims of negligence, errors, or omissions in the provision of legal services. Learn more about Professional Indemnity Insurance here.
Misappropriation of Trust Funds: Coverage that protects the practice from theft/ misappropriation of trust fund monies, by directors or employees who hold a valid contract of employment. (The LPIIF does not cover a legal practice against the Misappropriation of Trust Funds).
Fidelity Guarantee: Insures against the loss of money or property due to employee dishonesty, safeguarding your practice from internal fraud or theft.
Third-party Impersonation Fraud: Covers losses resulting from fraudulent activities where third parties impersonate clients, colleagues, or suppliers to deceive your firm.
The Legal Practitioners Insurance Policy includes:
- Claims preparation costs
- Correspondent legal practitioners
- Cyber Liability Extension
- Defamation Extension
- Defence costs to appear before a statutory body
- Investment Advice Extension
- Liability following employee dishonesty
- Loss of documents
- LPIIF Excess Infill
- Outside directors and officers
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Benefits of Legal Practitioners Insurance
Comprehensive Protection: Safeguard your practice against multiple risks, from professional liability to fraud.
Tailored Solutions: Customisable insurance packages designed to meet the specific requirements of legal professionals.
Peace of Mind: Focus on your clients and cases knowing you’re protected from financial fallout.
Claims Expertise: Access to dedicated claims professionals who understand the legal sector and are ready to assist when needed.
Contact Econorisk:
Don’t leave your practice exposed to risks. With our Legal Practitioners Insurance, you’re not just insured, you’re empowered to navigate challenges with confidence.
Contact us today to learn more about our tailored solutions for legal practitioners and take the first step in securing your peace of mind.
