As a Wisconsin lawyer, you’ve dedicated your career to serving your clients with the utmost level of professionalism and care. But even the most diligent attorneys can face unexpected claims of malpractice. Unfortunately, some of these claims may stem from legal work that took place long ago. Does newly purchased legal malpractice insurance cover work done before the policy’s start date?
Understanding Prior Acts Coverage
The short answer is that whether your legal malpractice insurance covers work you did in the past depends on the specific details of your policy. Many legal malpractice insurance policies include what’s known as “prior acts coverage” or “retroactive coverage.” This feature can protect you against claims arising from work you did before your policy went into effect.
WILMIC proudly offers prior acts coverage from your first day of practice. This means that when you purchase a policy from us, you can potentially be covered for any work you’ve done since you began practicing law in Wisconsin.
Why Prior Acts Coverage Matters
Legal malpractice claims can sometimes arise years after you performed the work in question. Without prior acts coverage, you could face a claim from past work with no insurance protection. This gap in coverage could leave you personally liable for legal fees, settlements, and judgments.
Consider this scenario: You’ve been practicing law for five years without malpractice insurance. You decide to purchase a policy today. Six months from now, a client files a malpractice claim related to work you did three years ago. Without prior acts coverage, your new policy wouldn’t protect you from this claim.
Factors Affecting Prior Acts Coverage
While prior acts coverage can be extremely valuable, there are some important details to understand about how these policies work:
- Retroactive Date – This is the date from which your policy will cover prior acts. At WILMIC, we typically set this to your first day of practice.
- Continuous Coverage – To maintain prior acts coverage, you must keep your malpractice insurance active without any gaps.
- Known Claims or Potential Claims – Prior acts coverage typically doesn’t apply to claims you knew about or reasonably should have known about before purchasing the policy.
- Policy Limits – The coverage limits for prior acts are usually the same as your current policy limits.
Contact WILMIC to Get the Coverage You Need
If you’re practicing without malpractice insurance or are unsure about whether your current policy covers prior acts, now is the time to act. The longer you wait, the more unprotected work you accumulate in your past.
Don’t leave your hard work and professional reputation vulnerable to uninsured claims. Reach out to WILMIC today to discuss your coverage needs. Our team of experienced professionals can help you understand your options and find a policy that provides comprehensive protection for your practice.
Start the process today by filling out an application on our website and take this crucial step toward protecting yourself and your legal career.