Professional Liability Insurance (for lawyers)

Professional Indemnity or Professional Liability is a form of liability insurance which helps protect professional advice providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. Typically, professional liability insurance policies are designed to cover lawyers and employees of the law firm acting on behalf of the firm, and the firm itself.

The amount of coverage you should purchase should be guided by your own philosophies about risk-taking, your financial wherewithal, and the types of risk you face in your practice although there are minimum requirements set by the Cyprus Bar Association.

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