Best Practice #6:  Malpractice, Errors & Omissions and Fidelity Coverage

Maintain appropriate professional liability insurance and fidelity coverage.

PURPOSE:  Appropriate levels of professional liability (errors and omissions insurance) ensure that attorneys have the financial capacity to stand behind their professional services. In addition, lenders may require a law firm to maintain fidelity bond and surety bond policies with prescribed minimum amounts of coverage.

INFORMATION:

RESOURCES (See Resources page):

Lawyers Mutual Liability Insurance Company of North Carolina  -- malpractice   
Lawyers Insurance Agency  -- other types of insurance, including crime (fidelity), cyber liability, among others  

ALTA Best Practices information   

Sample template (see also title company versions, links on Resources
page)