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Non Life Insurance - Why Solicitors should buy insurance?

11 Jan 2003

arimidex

arimidex tinakuhn.com

Solicitors and other members of the legal profession are known for their tenacity and shrewdness when it comes to wrangling with intricacies of any case. Their ability and confidence rises from the fact that they devote themselves towards extensive study and maintaining in-depth knowledge of cases and legislature in general.

As a solicitor, you know how easy it can be to turn a case around if your courtroom opponent makes an error in his paperwork or seems inaccurate in his language and presentation. But then your opponent is only human and you can make similar errors or mistakes in your scope of operation as well.

After losing a case or not being able to get the desired ruling, if your client feels that you did not show enough diligence or were negligent in pursuing his case, he or she is free to take you to court again. Only this time, you will have to defend your professional reputation against his charges of loss or damages against you.

Fate might not be on your side for the second consecutive time and the courts hold you liable to pay your client a suitably large amount as compensation. With any luck, you may never see such a day. But what if you do? If you invest in a Professional Indemnity insurance policy, then the policy will cover the entire cost of legal libel initiated against you. If you lose the case, then the policy will pay the compensation amount and if you win, then it will still cover the costs involved in the defense proceedings.

Legal offices inspire admiration and invoke reverence. You might have spent a minor fortune in decorating your office with rare and expensive artifacts and antiques. There might also be highly classified and important documentation with specialised electronics involved within your scope of work.

Since your office premises contain items of major value, shouldn't you safeguard your interests by investing in an Office Umbrella insurance policy? Under the sections of the Office Umbrella policy, all contents worth any reasonable value are insured against fire and allied perils, theft or robbery, accidents or misfortune, including fraudulent or dishonest acts committed by your employees.

Source: insuremagic.com BACK