For many solo practitioners and small law firms, legal malpractice insurance, or Lawyers Professional Liability (LPL), is a line item they’d rather skip — until they really need it. Some assume they’d never make a costly mistake, while others focus on price instead of coverage quality. But as an insurance agent, you know that professional liability policies aren’t just about checking a box — they’re about long-term protection for your clients and their businesses.
In an article published by the American Bar Association, JoAnn L. Hathaway, an expert in legal malpractice coverage, highlights key mistakes attorneys make when selecting (or skipping) LPL. If your attorney clients hesitate to purchase coverage, there are a few things you should remind them about.
- Emphasize the Risks
Even the most diligent attorneys can face malpractice claims. And if your client works in personal injury-plaintiff, real estate, or family law, their risk goes up, as an ABA study ranked those as the highest-risk practice areas.
- Shift the Focus from Price to Value
Many attorneys make the mistake of choosing LPL coverage based on price alone. Hathaway explains that factors like claims handling, policy limits, and the insurer’s financial stability are just as critical as cost. As their agent, you can help clients compare policies beyond price and ensure they’re not underinsured.
- Highlight the Importance of Cyber Liability
Law firms handle sensitive data but often lack strong cybersecurity defenses. Many attorneys assume their standard LPL policy includes cyber protection, but it may not be enough. By encouraging them to review their coverage for cyber gaps, you could help them prevent a major financial loss down the road.
- Help Clients Navigate Policy Transitions
LPL implications can be complex if an attorney switches firms, retires, or starts a new practice. Maintaining prior acts coverage and purchasing tail coverage are critical steps. Proactively guide your clients through these transitions, and you could be the hero on the day they really need one.
Why This Matters for You
You know your clients best and they trust you to come with direct, thoughtful recommendations. By staying ahead of their concerns and offering expert-backed insights you strengthen your role as their advisor, while identifying LPL insurance coverage solutions to protect their practices and firms.
Partnering with an experienced specialty program administrator like MiniCo ensures you have access to tailored LPL solutions designed to meet the unique needs of your attorney clients. MiniCo’s exclusive Lawyers Professional Liability program offers customizable insurance solutions for law firms with 1-25 attorneys, with both admitted and non-admitted options. Check out our website for coverage highlights, underwriting eligibility, and submission requirements, or click here to get a quote.
