Why Kitchener Legal Professionals Need Professional Liability Insurance Coverage

Being a lawyer in Kitchener, Ontario comes with many burdens and responsibilities. Among those is the pressure to always perform properly.

The truth is that being a lawyer does not make you immune to being sued, as ironic as it sounds. In fact, legal professionals are among some of the most sued people on earth. If you are a lawyer currently not insured under a professional liability insurance coverage, then the simple act of going to work each day could well prove to be your downfall.

Regardless of whether or not a lawsuit is founded, absolutely nobody wants to deal with one. Not only does it put pressure on you — it can even affect your profession negatively in both the short and the long term. Owning a professional liability insurance policy is a lawyer’s best way to protect themselves from financial loss associated with lawsuits.

Legal professionals can be sued for a number of different reasons. One of the most common cause is known as professional negligence. When a lawyer is accused of professional negligence, they can be guilty of giving out wrong advice to clients or even guilty of failing to file public documents. When a person files a lawsuit against their lawyer, they have to be able to prove that professional negligence caused them harm.

Breach of fiduciary trust can also be ground for a lawsuit. As you probably already know, a lawyer is fiduciary to their client. In other words, they have absolutely no right to divulge personal information related to their client and profit from it. A breach of fiduciary trust is taken very seriously courts.

Fortunately, if you live in the Kitchener area, plenty of Kitchener professional liability insurance policies can be found online. If you are currently uninsured, then we recommend that you spend some time evaluating your options. As we like to say, prevention is the key — and in this case, it’s truly better to be safe than sorry.

Categories:

Professional Liability Insurance/PLI

(Errors and Omissions Insurance)

  • Flawed professional advice and services that may have resulted in financial loss to the customer or client.
  • Protects professional individuals or companies from responsibility of the full cost of defending against a negligence claim and damages awarded in such a civil lawsuit.
    • Professional liability insurance covers the costs of judgments, settlements and legal defense.
    • Damages paid under a professional liability policy are typically financial rather than physical.