Success in the legal sector is driven by your firm’s ability to deliver results and market leading advice. As such, the stakes are high to maintain reputation and manage risks. Insurance is necessary to cover against unexpected and unforeseen claims made against your team and firm as a whole.
At Risk Advisory Hub we’re here to help you protect your practice and uphold your standing within the industry.
To protect law firms and sole practitioners against the risks of alleged errors or omissions, Professional Indemnity insurance is essential. Adequate coverage will protect you or your firm from costly fees associated with damages and legal defence, which could be detrimental to your business.
Our specialist advisers at Risk Advisory Hub can help you determine the right level of Professional Indemnity insurance coverage appropriate for your business. We carefully assess your specific needs and requirements, including the size of your firm, specialist areas of law you operate in, and any statutory capping regimes or contractual obligations. Remember, an inadequate insurance policy can be just as costly as not having insurance at all.
Legal practices are required to hold a minimum limit of $2 million. It is possible to include a top-up policy to provide additional protection beyond that.
We first need to understand your exact business requirements and operations so that we can properly advise on all potential risks and ensure a policy is tailored to you accordingly. Get in touch with our team today to find out more.
Our claims advocacy team can work with you to submit and settle a claim on your behalf. See our claims advocacy page for more information.
Policy costs are dependent on several factors including the size and scope of your law firm, and the sorts of potential risks you face. We work closely with our long-standing insurance partners to ensure you have a policy that meets your needs at the best possible price.
Please get in touch to discuss your business and commercial insurance requirements or for a free, no obligation quote.