I was at a networking event last night and I got approached by a young lawyer. He was confused. He is opening his own office and he is in the process of applying for different insurances.
He wanted to know what the difference was between errors and omissions, professional liability and legal malpractice.
I had to tell him that really, there is NO difference between those three terms.
Legal malpractice insurance, professional liability insurance, errors and omissions insurance are used interchangeably when you are talking about lawyers professional liability insurance.
So, just so you all know, you don’t have to buy three separate policies, one policy will cover it. Thank you!