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Understanding Legal Malpractice Insurance

Insurance laws are often complex and hard to understand, so much in fact that even lawyers end up asking themselves exactly what Indiana malpractice insurance is and what it covers. That doesn’t mean you should simply leave the issue for later, though, as liability insurance could save you from losing your practice should you find yourself being sued.

Put simply, any attorney who practices law should have malpractice insurance, but it is especially true if you work by yourself. Today’s economy means more people are happy to file a malpractice lawsuit, and that often translates to trouble for the “little guy.” Your malpractice insurance will vary depending on your specific policy, but in most cases, it will cover both pre- and post-judgment interest, any earnings you lose during the lawsuit and any disciplinary proceedings within the bar. Some policies also cover subpoena expenses and cyber protection. To find the best policy for your needs, you should consider several things, one of the most important being the limit of liability  that is, the maximum coverage you will get if you file a claim. Above all else, be sure you make a claim if you need to. Delaying doing so could mean losing your coverage. Professional liability insurance may seem confusing, but a reputable agency will be able to assist you in finding Indiana malpractice insurance that meets your specific needs.

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