There's a longstanding history of professionals who think the worst could never happen to them. Unfortunately, this is why so many successful individuals fail to buy life insurance policies to protect their survivors after they die. Sadly, the same is often true when it comes to professional liability insurance. It's human nature to think that bad things won't happen to us.
If local Michigan attorneys needed any convincing evidence that they should obtain the best malpractice insurance available to them they should look no further than a recent case in Metro Detroit. A local man has successfully sued his Bloomfield Hills attorney for $13.1 million. As was quoted on the Channel 4 News, "When someone has a legal dispute, they usually hire a lawyer. But what happens when the dispute is with their lawyer or law firm?"
A Metro Detroit businessman went to court to sue his own attorney and wound up winning one of the largest payouts in such a case in Michigan history. The case had to do with an inventor who was due millions for his technology invention that all the computer companies were using. His lawyer advised him to hold out for more money (over $1 billion) and the client ultimately spent $1 million in legal fees for nothing. The client hired another attorney and successfully sued his former attorney for malpractice.
Many lawyers enjoy wonderful relationships with their clients and never imagine a client turning around and suing them for malpractice. However, this happens much more than you would think. A proper professional liability insurance policy is essential for all attorneys, regardless of your specialty. Contact the team at Paragon Underwriters today to re-enroll or learn about your options for malpractice insurance coverage. We put our decades of experience to work for you.