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AXIS INSURANCE SERVICES, LLC: E&O Coverage for the Legal Profession

As an attorney or law firm, you’ve been on both sides of the table: defending professionals and their work in disputes with clients and working on behalf of plaintiffs who are unhappy with a particular service or job and claim financial damages. You, too, unfortunately, can find yourself across the table as a defendant in a legal malpractice claim that without proper insurance protection will cause your bottom line and reputation to take a hit.

It’s not just large firms that face allegations of professional liability negligence. The American Bar Association estimates that attorneys at legal firms of all sizes will have at least three legal malpractice claims brought up against them in the course of their careers. Additionally, claims against lawyers have been steadily increasing in recent years, and the size of claims is also on the rise. Real estate lawyers in particular have seen a spike in claims.

Add Professional Liability for Attorneys to Your Portfolio

With Axis Insurance Services, LLC on your team, you gain the benefit of our expertise to offer tailored Errors & Omissions (E&O), or Legal Malpractice insurance, to protect your firm’s assets and reputation. Defense and indemnification coverage is provided for claims arising from “wrongful acts” committed in the rendering of legal services.

Working with leading insurance carriers in this area, we can offer large law firms with high policy and aggregate limits and specialized wording to meet the needs of individual risks and smaller and mid-size firms with coverage that is designed for their practice needs. We can enhance coverage with the following features:

  • A wide range of limits and deductibles
  • Disciplinary defense up to a certain amount
  • Extra claims expenses
  • Subpoena assistance
  • Privacy breaches
  • Prior acts
  • Non-practicing extended reporting form (for attorneys who have retired or have ceased practicing law)
  • And more

Product Overview

Working with leading insurance carriers in this area, we can offer large law firms with high policy and aggregate limits and specialized wording to meet the needs of individual risks and smaller and mid-size firms with coverage that is designed for their practice needs. We can enhance coverage with the following features:

  • A wide range of limits and deductibles
  • Disciplinary defense up to a certain amount
  • Extra claims expenses
  • Subpoena assistance
  • Privacy breaches
  • Prior acts
  • Non-practicing extended reporting form (for attorneys who have retired or have ceased practicing law)
  • And more
  • Attorney & Law Firms
  • Arbitration & Mediation
  • Bankruptcy Trustees
  • Expert Witnesses
  • Foreclosure Attorneys
  • Forensic Investigators
  • Insurance Claims Investigators
  • Litigation Support
  • Trustee Services including Family Offices

Lack of communication is a common grievance aired by clients of attorneys in most all types of practices. In addition, there are other areas of interest that highlight the need for E&O insurance for attorneys and legal firms:

  • 40% of legal malpractice claims involve some type of administrative error, which can include missing the statute of limitations or missing a crucial filing date
  • One of the most frequently cited errors against attorneys in a legal malpractice claim is a failure to know or properly apply the law
  • The real-estate practice area is the source for the largest number of claims
  • Attorneys working in corporate and securities sector generated the second most claims
  • Conflicts of interest continue to be the most frequent alleged malpractice error
  • Failure to “calendar or follow-up” is also a common cause for a claim
  • Abandonment of representation or failure to address client needs make up frequent claims
  • Many lawsuits are as a result of collecting fees; when a client gets sued for unpaid legal fees, a countersuit typically follows, claiming he/she didn’t like the work performed which is why the bill is unpaid
  • In recent years, claims against intellectual property attorneys have risen in both frequency and severity

Learn about our product

PRODUCTS

Tail Coverage Insurance

For nearly two decades, the insurance professionals at Axis Insurance Services, LLC

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Professional Liability Insurance (E&O)

Professions

As specialists in Professional Liability insurance, Axis Insurance Services, LLC offers Errors & Omissions Liability insurance products to almost any industry

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Professional Liability Insurance (E&O)

Insurance

Just as managing a client’s professional liability exposure properly is critical, insurance agencies must also ensure that their own Errors & Omissions (E&O)

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Professional Liability Insurance (E&O)

Legal

As an attorney or law firm, you’ve been on both sides of the table: defending professionals and their work in disputes

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Professional Liability Insurance (E&O)

Real Estate

As one of the nation’s largest independent firms writing Commercial Real Estate E&O insurance, we provide a unique perspective in this risk.

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Professional Liability Insurance (E&O)

Technology

Errors & Omissions (E&O) insurance for the technology industry is designed to cover the financial loss to a company’s customer as a result of an error or omission

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Professional Liability Insurance (E&O)

Healthcare/Medical

The healthcare and medical sectors have undergone major changes in the last decade due to increased regulation and oversight

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Professional Liability Insurance (E&O)

Architects & Engineers

Architects and engineers are increasingly seeing more professional liability lawsuits today with allegations that an error or omission in the work

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Professional Liability Insurance (E&O)

Financial Institutions

As a leading provider of Professional Liability insurance products, Axis Insurance Services, LLC provides financial institutions

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Professional Liability Insurance (E&O)

Consulting

As a consultant, your clients look to you to provide advice and recommendations based on your expertise and years of experience.

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Professional Liability Insurance (E&O)

Media

Creators of media content produce and market everything from ads, scripted and reality television programs, films and newspapers to Internet articles and blogs.

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Professional Liability Insurance (E&O)

Mortgage Bankers & Brokers

Our Mortgage Bankers errors and omissions insurance (E&O) programs are specifically tailored to each mortgage banker or broker.

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Professional Liability Insurance (E&O)

Miscellaneous Services

It’s inevitable that at some point in a company’s lifespan an error will occur that will cause financial damage or loss to a client.

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Professional Liability Insurance (E&O)

Resources

Following is information for greater insight into the need for Professional Liability insurance and risk management:

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Professional Liability Insurance (E&O)

Claims Scenarios

Following are several Professional Liability/E&O claims representing different professions.

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Professional Liability Insurance (E&O)

Construction

Construction Professional Liability Insurance can provide coverage for firm in the event of a lawsuit brought against it for claiming negligence in providing

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Your Legal E&O Protection Is On Our Agenda

Our mission is to help customers identify and prioritize their Professional Liability insurance needs, provide the most competitive coverage options available, and offer superior customer service. Each and every business has a distinctly unique set of products or services. We are committed to offering flexible and intelligent coverage solutions tailored to meet our customers’ needs. Put our experience and expertise to work for you. Give us a call at (201) 847-9175.

Your Legal E&O Protection Is On Our Agenda
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