Professional Liability Coverage

We received 80+ responses from Posse members concerning our request for information on professional liability insurance.  We’ve summarized the responses as follows:   

1.         Many Posse members suggested that you start with your state bar associations which sometime offer good deals.

2.         Most used/recommended the Minnesotal Lawyers Mutual, Zurich American, and ALPS.

3.        Several members pointed out that Minnesota Lawyers Mutual provides free CLEs.

4.         ALPS and Minnesota Mutual are both good providers although MMM is not comprehensive in that it does not always insure a particular practice.  Also, both have discounted rates and pay over time options for their premiums.

5.         A Posse ember newly barred (VA in Oct 2006) opened his solo office this past July. After looking at coverage from numerous companies, he found the best rate and coverage through Minnesota Lawyers Mutual.  He paid $500.00 for a year premium for $200k/$600k coverage for general practice, and business legal work.

6.         Several members also pointed out that if you are operating from your home, be mindful of local/county business license and personal property tax issues.

 The ABA web site provides the following links to insurance companies offering professional liability insurance: