Malpractice insurance is most common with medical practitioners. But it is also needed by other types of professionals such as lawyers. And why would lawyers need malpractice insurance? Because as what Forest Gump said, “You’ll never know what you’re going to get”.
As in any business or profession, there will always be a risk. You will never really know what will hit you. So, just to be on the safe side, it is best to have malpractice insurance in case something goes wrong along the way with a client.
Let’s just say, while handling a case, your client tells you he/she is not happy the way things are going and feels that you are neglecting her, this probably tells you that a professional negligence lawsuit is at hand. If, and when a client wins, the lawyer will be required to pay the client for funds they could have received as judgment. Simply put, if you are insured, you will not worry about having to pay your client out of your own pocket, should this happen. The insurance company will take care of it.
Imagine putting an influential client’s reputation at stake and you would be needing to hire a publicist to fix the damage? This will be no problem as the insurance will shoulder all the expenses linked to it.
As they say, anything can happen at some point in your career. So, having insurance is your safety blanket should things go sour. You are protected. Without it, you might end up bankrupt and will mean the end of your career as a lawyer.
Here in the Philippines, there were cases where lawyers were disbarred following the complaints of their clients. Likewise, a complaint can also bring suspension should a lawyer is proven guilty.
When things like these happen, there is an insurance company here ready to be of service.
Malayan Insurance offers malpractice insurance that covers liability arising from any failure to render proper legal services. For more information, call Malayan Insurance at +632 8628-8-628. Insure to be sure!