Professional Services
Key Takeaway
The specific scope of activities covered by a professional liability policy. The policy's definition of professional services determines which acts trigger coverage.
Definition
The specific scope of activities covered by a professional liability policy. The policy's definition of professional services determines which acts trigger coverage. For legal malpractice policies, this typically includes legal advice, representation, document preparation, and related services performed for clients in the insured's capacity as a licensed attorney.
Why This Matters for Law Firms
This term defines the boundaries of what your insurance will and will not pay for. Law firms that misunderstand coverage terms risk discovering gaps in protection only after a claim has been filed, when it is too late to remedy the situation. Reviewing these terms with your broker before binding coverage is a critical risk management step.
Example Usage in Context
During a coverage review meeting, the firm administrator might note: "Our policy includes a professional services provision -- let's make sure we understand exactly what that means for our specific practice areas before we sign off on the renewal."
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