Attorney malpractice insurance, also known as professional liability insurance, is a type of insurance that protects attorneys from claims of professional negligence or wrongdoing. It covers legal expenses and damages that result from a malpractice lawsuit.
Prior acts coverage covers claims arising from incidents that occurred before the effective date of an attorney’s current insurance policy. For example, if an attorney changes insurance carriers or continues with the current insurer they may need prior acts coverage to protect against claims that arose for prior renewals. Maintain continuous claims made prior acts coverage from one renewal to the next. Letting coverage lapse or not maintaining the prior acts date results in the loss of prior acts coverage.
It’s important for attorneys to have sufficient coverage to protect themselves against potential malpractice claims. If you are an attorney, it’s a good idea to review your insurance coverage regularly to ensure that you have the protection you need.
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080