Question 1

What is professional liability insurance for law firms?

Accepted Answer

Professional liability insurance for law firms (also called legal malpractice insurance) protects attorneys against claims of negligence, errors, or omissions made by clients. It covers defense costs and settlements if a client alleges your firm made a mistake that caused them harm.

Question 2

If I switch insurance carriers, do I lose my prior acts coverage?

Accepted Answer

No. Good malpractice policies include prior acts coverage, which protects you for services you performed before the new policy's effective date. As long as coverage is continuous and your new carrier honors your retroactive date, your prior acts are protected.

Question 3

Does professional liability insurance cover cyber attacks?

Accepted Answer

No — cyber coverage is usually separate from professional liability. Some E&O policies include a small cyber endorsement, but it is typically insufficient. A standalone cyber liability policy provides much stronger protection for data breaches, ransomware, and business interruption caused by cyber incidents.

Question 4

What factors affect a law firm's malpractice insurance premium?

Accepted Answer

The main factors are practice areas, firm size, claims history, coverage limits, deductible, years in practice (step rating), and how your risk is presented to underwriters. How your application is written matters more than most attorneys realize.

Question 5

Can Walker & Company help new or startup law firms get coverage?

Accepted Answer

Yes. Walker & Company works with solo attorneys and small firms to find affordable first-time policies, including step-rated programs designed for newer practices. We work with 20+ carriers and can find options for most firm types.

Question 6

How quickly can Walker & Company get a law firm a malpractice insurance quote?

Accepted Answer

We return quotes same business day in most cases. Submit your firm's information through our quote form and we will shop your risk across our full carrier panel and respond with options by the end of the business day.

See how your Professional Liability policy stacks up.