Legal malpractice insurance in Austin helps reduce the financial risk an attorney may have due to a malpractice case. For you to understand why this type of policy is important, you need to have a clear understanding of what legal malpractice is.
Legal malpractice can be committed regardless of the specific law field. When an attorney causes monetary damages to his or her client due to negligence or wrongful actions, it is considered legal malpractice. A few different situations lead to this malpractice.
- A case is dismissed due to an attorney’s negligence rather than legitimacy of the case.
- An attorney does not properly pursue a case.
- An attorney failed to secure witnesses or the necessary experts.
- An attorney failed to meet deadlines.
Legal malpractice insurance in Austin is important because attorneys can face these charges even when they haven’t done anything wrong.
The insurance helps both the lawyers and the supposed victim of the case. When an attorney has this insurance, the person wronged can easily get monetary payment from the insurance company without financially ruining the lawyer. Without this coverage, the victim may not be able to get the payment they theoretically deserve or the lawyer’s practice could be devastated financially. Talk with an insurance provider to find out if this legal malpractice insurance in Austin is right for you.