If you are a new lawyer getting ready to start a practice, you know you need professional liability insurance – but that may be about it. At Wisconsin Lawyers Mutual Insurance Company (WILMIC), we are committed to helping lawyers at all stages of their careers protect themselves and their practices by providing information and services tailored to the legal profession.


Here are some of the things you need to know about professional liability insurance. For more info, call our office today or contact us online.

Who Needs Malpractice Insurance?

Malpractice insurance, also known as professional liability insurance, is a crucial safeguard for lawyers at every stage of their career. Whether you’re a seasoned attorney or just starting your practice, the need for this type of coverage remains critical.

Experienced lawyers understand that even the most meticulous professionals can face unexpected challenges in the legal field. Mistakes can happen, and clients may not always be satisfied with the outcomes of their cases. In such situations, professional liability insurance serves as a financial safety net, protecting your assets and reputation.

For new lawyers, the importance of malpractice insurance cannot be overstated. As you build your legal career and gain experience, the likelihood of encountering complex cases and potential pitfalls increases. Without proper coverage, legal disputes can result in substantial financial setbacks and tarnish your professional standing.

What is Extended Reporting Coverage?

Extended Reporting Coverage, often referred to as “tail coverage,” is a critical aspect of professional liability insurance that lawyers should be well-informed about. It serves as a safety net that can provide you with protection even after you’ve retired or left your practice.

Imagine you decide to retire or transition to a different career, but you’ve had professional liability insurance throughout your legal career. Extended Reporting Coverage ensures that you are still covered for claims related to work you performed while the policy was in effect, even after it expires.

This coverage is particularly essential in the legal field, where claims can sometimes arise years after legal services have been provided. It can provide peace of mind, safeguarding your personal assets and reputation in your post-practice years.

Is Contract Work for a Law Firm Covered by Their Policy?

The question of whether contract work for a law firm is covered by their professional liability insurance policy is a common concern, especially for lawyers who engage in such arrangements. Understanding the intricacies of coverage is vital to ensure you’re adequately protected.

In many cases, a law firm’s professional liability insurance policy will extend coverage to lawyers working on behalf of the firm, including contract attorneys. However, the specific terms and conditions can vary between policies and insurance providers. It’s essential to review the firm’s policy and discuss it with your employer to clarify the extent of coverage.

Additionally, if you’re working as a contract attorney independently, it’s advisable to consider your own professional liability insurance to safeguard your interests and assets in case of any disputes or claims.