About Business Insurance For Solicitors
When your customers come to you they expect a professional service that is faultless and trustworthy. Every customer is different and as you will be working with many different customers at the same time this puts you at risk of claims being made against you. Offering advice and acting professionally is all part of your job but this can sometimes put you in a difficult and exposed position because sometimes errors can be made. These errors can be linked to incorrect advice, negligence and even causing injury to your clients. If your clients experience financial losses as a result of your errors or injury then they will look to recover those losses which means you should consider having business insurance.
Business Insurance For Solicitors
Choosing to have business insurance is a move in the right direction because it will offer your business the protection it needs. This will mean that the risks that you are exposed to on a daily basis are covered because any claims made against you will be dealt with. You may feel that business insurance is not a requirement because you have never had a claim made against you but this does not mean a claim will never be made. The costs associated with a claim could cripple your business financially if you do not have business insurance in place.
How Does It Work?
Trust, professionalism and confidentiality are just some of the things your clients expect when they choose to use your services. However, omitting simple information or working negligently can cost your clients and this is why you need business insurance.
Professional indemnity insurance is there to protect your business from any claims made against you that are associated with negligence or wrong advice that lead to injury or financial loss. Working to tight deadlines can cause stress and this could lead to you advising a client to make a decision that proves incorrect or you could lose files containing confidential information. Errors such as these would give your clients the right to make a claim in order to recover any losses but with professional indemnity insurance in place all costs will be taken care of.
Working with the public in this way also comes with its risk but this is where public liability insurance is there for your business. As your clients may have to visit your office to discuss important matters they could become injured while on your premises. They could trip over a box of files at the top of a stair case or they could slip on a wet floor after it has been cleaned. This could cause injury and a loss of earnings for your client but it would mean that they would look to recover their losses by making a claim. Public liability insurance is the right cover for your business so you have confidence in the way that you work.
Business insurance provides these features:
- Full cover against all claims regardless of size or outcome
- Claims are thoroughly evaluated before any payments are released
- Your business will benefit from full protection
- Defence costs and compensation costs are included
- Business needs are considered to ensure you have the right cover
- Court attendance costs form part of the cover
- Insurance to cover all budgets
What Are the Benefits?
There are a wide range of benefits with this cover:
- Meet all legal expectations and industry regulations
- Spend more time working on your business
- Financial protection from all claims
- Representations and advice is there for you
- Have confidence in your work and re-assurance that you are protected