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What is Legal Malpractice Insurance For? Legal malpractice insurance can either save a lawyer from legal malpractice case or pay for a lawyer’s malpractice charges if found guilty. It is not required by law that layers get legal malpractice insurance. If a lawyer’s malpractice case involves fraud, theft, or willful injury, these cases are not usually covered by the legal malpractice insurance. Victims of lawyers who are guilty of legal malpractice will have no legal remedy or legal action to take against that lawyer who does not have a legal malpractice insurance. Two things can result from a lawyer having a legal malpractice insurance when face with legal action from a victim client. One thing insurance companies do is to defend the lawyer from the legal malpractice accusations of the former clients. The insurance company will allot money to pay the client in the event that the lawyer is found guilty of legal malpractice. When we speak of legal malpractice, we refer to any negligent act or wrongfully executed act by an attorney which causes the client monetary damages. Any lawyer, whatever his field of expertise, can be guilty of legal malpractice.
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There are many ways by which persons in the legal profession can carry out legal malpractice. There is legal malpractice when because of negligence on the part of the lawyer, the client loses his case despite evidence to the contrary. There are other scenarios when lawyers are guilty of legal malpractice and these are when the attorney fails to properly pursue a case, when he fails to get experts and witnesses, and when he fails to act before the calendar deadlines and statues of limitations. Any action of a legal professional that causes undue injury to a client is considered legal malpractice.
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Even if a lawyer does not have a legal malpractice insurance, any victim of legal malpractice can still claim for damages in some other way. Attorneys choose to represent themselves in court when they are accused of legal malpractice and do not have an insurance. The court determines the amount the lawyer has to pay in the event that he is found guilty of legal malpractice. Defending oneself against malpractice claims is what lawyers have to go through if they do not have a legal malpractice insurance to defend them. IF a lawyer has not legal malpractice insurance, it can also be detrimental to the plaintiff because he has to proceed into costly litigation. If lawyers with to get this insurance there is a web resource which includes a non-exhaustive directory of insurance companies. The directory gives helpful information for every insurance company like what types of firms they cover, their coverage limits and other coverage terms. If you are a lawyer shopping for legal malpractice insurance, take time to contact at least three carriers so you can compare everything, before choosing a best one for you.