Publisher’s Note: This Q&A is sponsored content.
In this column, I highlight frequently asked questions I’ve received over my 20-plus years providing professional liability insurance. I’d be happy to address additional questions Texas Lawbook readers might have for future columns. Please submit those questions to sam@attorneysfirst.com.
Q: One often hears the terms: Lawyers Errors and Omissions Insurance, Malpractice Insurance for Lawyers, Professional Liability Insurance for Attorneys used interchangeably. Are there any differences among these three commonly used expressions for this type of insurance coverage?
A: No. All three terms mean the same thing, and depending on individual preference are used to describe this product.
Q: What services are covered under a Lawyers Professional Liability insurance policy?
A: Policies vary in coverage, which is why an experienced insurance agent who specializes in professional liability is particularly useful.
Generally speaking, the coverage for Professional Liability Services can be found in the “Definitions” section of the policy.
Legal Services – Definition.
Means those services performed on BEHALF OF THE NAMED INSURED, for others by an INSURED, whether or not performed for a fee, or other consideration, as a licensed lawyer in good standing, arbitrator, mediator, title agent, notary public, lobbyist, administrator, conservator, receiver, executor, guardian, trustee, fiduciary, or escrow agent, but only where such services were performed in the ordinary course of an INSURED’S activities as a lawyer.
Legal Services also include services rendered by an INSURED as a : (a) member of a formal accreditation, ethics, peer review or licensing board, standards review board, bar association, or any similar board or committee; (b) expert witness in a legal malpractice proceeding, or (c) author, publisher or presenter of legal research or legal articles and papers, but only if the compensation received by the INSURED annually from such services is less than $5,000.
LEGAL SERVICES DOES NOT INCLUDE SERVICES AS A REAL ESTATE AGENT OR BROKER, AS AN INSURANCE AGENT OR BROKER, OR AS A CERTIFIED PUBLIC ACCOUNTANT.
Sam Cohen is the owner of Attorneys First Insurance. Since 2001, his agency has specialized in Lawyers Professional Liability in Texas and Florida. Sam can be reached at sam@attorneysfirst.com.
