One of the most important things you can do to protect your law practice is to have insurance coverage in place. While setting up an entity is important, insurance is your first line of defense against claims against you. It also can help give some relief after a fire or other incident, or provide some cash to help with member transition.

In this episode we talk about some of the insurance coverage you may want to think about for your law practice, as well as things to talk to your insurance agent about.

 

In this episode you will learn:

* Most solos and small firm partners (and small business owners in general) think that just having an entity in place is good enough – it’s not

* Professional liability insurance often covers both malpractice as well as ethics claims

* John gives a shout-out to insurance agents

* Commercial leases usually require a commercial insurance policy be in place

* An auto accident involving you or your employee may not be covered under your personal automobile policy if the trip was for a business purpose

* Life insurance is not just for personal income – it can also be used for firm succession planning

Thanks for listening!

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