Malpractice insurance

Malpractice insurance – within the sphere of Insurance Law, this term details an insurance, signed to cover eventual damages caused during practice by the professional towards third parties (clients). For example, in many countries the lawyers who are members of the Lawyer’s Bar Chamber are obliged to sign such annual insurance policy in order to be liable to clients for eventually caused damages by negligence. This is something which overseas clients very often underestimate, when hiring so-called “solicitors”, “legal advisors” or other people or business bodies that promise to assist them, but actually are not registered members of the Lawyer’s Bar, resp. are not allowed to advise people and have no malpractice insurance.

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