Professional Indemnity for Lawyers

Professional Indemnity for Lawyers

Professional Peace of Mind: Protecting Lawyers Against Unforeseen Liabilities

Legal work is intricate and filled with complexities. A single oversight could lead to substantial consequences. With Pacis Professional Indemnity for Lawyers, focus on what you do best – representing your clients. Our tailored coverage acts as a solid safeguard against legal liabilities that may arise due to negligence, error, or omission in your professional services. Whether it’s a financial loss from a legal battle or the cost of unexpected outcomes, Pacis is here to provide strong support, enhance your credibility, and ensure the smooth running of your practice.

What is Professional Indemnity for Lawyers?

Pacis Professional Indemnity for Lawyers is a specialized liability insurance designed to protect legal professionals either in private or full-time employment. It covers legal liabilities that may arise from acts of negligence, error, or omission while rendering professional services to clients. Offered by Pacis Insurance Company, a trusted institution owned by the Catholic Church in Kenya, this cover is tailored to the unique risks faced by lawyers. It takes into account potential financial and reputational losses due to professional negligence, including court judgments, legal defense costs, defamation suits, and disciplinary hearings. The policy offers various extensions at an additional cost, such as Retroactive cover, Re-instatement, and Run-off cover. These can further shield professionals in case of unanticipated legal challenges. Available in different limit options, the policy provides a robust safety net, allowing lawyers to concentrate on their core business while enjoying peace of mind, increased credibility, and seamless business operations.

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key features

What are the key features of this insurance?

Coverage
Adequate protection against financial and reputational losses due to professional negligence.
Incidents Included
Covers court judgments, legal costs, disciplinary hearings, and defamation suits.
Basis of Cover
Offered on claims made basis, covering claims made during the insurance period.
Available Extensions
Includes options for Retroactive cover, Re-instatement, and Run-off cover.
Limit of Liability Options
Various options ranging from 1,000,000 to 20,000,000, tailored to annual gross fees.
Deductible/Excess
Set amounts of 50,000 to 200,000 depending on the selected limit of liability.
Signing Up Process
Proposal form available online or through intermediaries, with listed forms of payment accepted.
Claim Making Process
Defined procedure including record-keeping, formal notification, and adherence to company policies.

Professional Indemnity for Lawyers

Product Benefits

Peace of Mind
Enables lawyers to perform professional services with greater confidence, knowing that risks are managed.
Increased Credibility
Enhances goodwill and brand image, assuring clients that potential risks are backed by strong support.
Smooth Running of Business
Helps to restore financial position following losses incurred due to legal processes

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Frequently Asked Questions

What is covered under the Professional Indemnity for Lawyers?

This insurance covers legal liabilities arising from negligence, error, or omission in rendering professional services.

Who is eligible for this coverage?

Lawyers involved in either private or full-time employment who render professional services to their clients.

What extensions are available?

Extensions include Retroactive cover, Re-instatement, and Run-of cover, among others.

How are the premiums calculated?

Premiums are based on the annual gross fees and the selected limit of liability.

What does the deductible/excess mean?

The deductible/excess is the amount the insured must pay before the insurance company covers a claim.

How does this policy support the smooth running of my business?

It helps restore financial position after losses from legal processes, ensuring uninterrupted business operations.

How do I make a claim?

Claims should be made by writing to Pacis Insurance or your intermediary, following the specific guidelines provided.

Can I get coverage for incidents before the policy inception?

Yes, with a retroactive date extension, but not for un-insured periods.

What's the process for signing up?

Complete the proposal form on the website, pay the premium, and send the necessary documentation.

Are there any restrictions on responding to third-party correspondence?

Do not respond to third-party correspondence without Pacis Insurance's consent; forward them to the insurer.