Yes. Premium financing is available upon request.

No, but it is highly recommended by the NSBA.

Current statistics show that in any given year, a minimum of five to six insured lawyers out of every 100 in private practice will experience a malpractice claim. Statistically, this means a firm of 20 lawyers could be the recipient of a claim every year. Since the exposure to legal malpractice is greater now than ever before, it is a prudent part of law office management to establish meaningful loss prevention practices including the purchase of proper lawyers professional liability insurance coverage.

Following are some key points of comparison:

Financial security
Is the company admitted in Nebraska? Is the company rated by A.M. Best & Co., Standard & Poor's and/or Moody's?

Experience
How long and how successfully has the company written legal malpractice insurance?

Long-term commitment
Has the company demonstrated a commitment to this line of insurance through both good and bad times?

Claim handling
Does the company respond promptly, appoint qualified defense counsel when necessary, and actively pursue a fair and speedy resolution?

The State Bar Approved Program is underwritten through Interstate Insurance Group, a division of Fireman’s Fund Insurance Compay. Interstate is rated A (Excellent) by A. M. Best and A+ (Strong) by Standard & Poor's. Features include of the Interstate plan include:

• Broad range of limits of liability
• Lateral hire coverage
• Optional defense costs in addition to the limits of liability
• Optional first-dollar defense coverage
• Defense for hearings before regulatory authorities.

There is no such thing as a "standard" legal malpractice insurance policy. While all policies address the same basic coverage issues, there are differences in approach that can be very important in some circumstances. 

The program administrator, Marsh U.S. Consumer can assist you with policy comparisons. In all cases, you should read the policy (including any endorsements) carefully and be sure you understand it before you order coverage

There is no single way to answer this question. Under most policies, the "each claim" limit of liability defines the company's maximum total obligation for settlements, judgments and defense costs (including attorneys fees) in connection with a single claim, so you should keep in mind that costs can consume a significant part of the limit.

One common benchmark is to select an each-claim limit that would cover all or most of the firm's liability for a claim (plus the cost of defense) arising from a "typical" engagement, assuming the firm was found to be 100% responsible.

The annual premium per attorney can vary widely depending on limits of liability, deductible, length of time in practice, claim history, areas of practice, and a number of other factors.

Click the "Apply Online" button to obtain an approximate indication of premium, but bear in mind that premiums can vary substantially based on individual and firm practice characteristics that can only be evaluated with a completed and signed application. In addition, coverage is subject to underwriting standards and is not guaranteed. The fact that we provide an indication does not assure that a quotation will be offered.

That depends on how large a check you can write without seriously disrupting your finances, and how much you can save by choosing a larger deductible. Many companies require a deductible of at least $1,000 each claim for a single attorney, while $2,500 or more each claim per attorney is considered a more typical deductible as the firm's size increases. Companies may also set a maximum deductible per attorney. Increasing your deductible will lower your premium, but you should be realistic in weighing the value of minor premium savings compared to the additional risk you are assuming, since you will have to pay your deductible before the company begins to pay for costs.

A good way to evaluate this tradeoff is to request several quotations that "bracket" the deductible you feel most comfortable with. Remember, also, to consider whether the deductible applies separately to each claim, or applies on an annual aggregate basis regardless of the number of claims in a policy year.

Simply stated, the term, "Professional Liability Insurance" insures a person and/or an entity (corporation, partnership, etc.) against claims made by third parties (clients, customers, etc.), alleging an act, error, or omission in the rendering of, or the failure to render, professional services.

Professional liability insurance is also often referred to as "errors & omissions" or "E&O" or "malpractice" insurance. These are just different ways of saying the same thing.