As the manager of a busy and successful law firm, you want to protect all of the people who work there from undue liabilities. You also want to spare the entire business from going belly up and running out of money.
Part of protecting your firm involves ensuring a versatile and ample policy. You may offset large financial judgments and settlements when you buy protection like law firm insurance in Los Angeles, CA for it.
Paying for Judgments
If a client sues the business for alleged malpractice, this person could collect thousands of dollars in damages. The judge assigned to the case may demand that money get paid out immediately and in one lump sum.
You do not want to risk any of the attorneys or other office staff having to cover that amount themselves. Instead, when you have a policy protecting the business, you can claim it to pay out that judgment. Your attorneys’ bank accounts, as well as those of the other office staff, may stay intact.
Paying for Settlements
The insurer you do business with can coordinate with your firm and offer settlements as well. These deals can spare the business from taking on such a large claim and instead settle the case for a lesser amount.
You can find out more about investing in law firm insurance in Los Angeles, CA online. To get price quotes, contact Acrisure San Diego, CA (Ahern Insurance Brokerage) at aherninsurance.com.
