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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.

Minimize your risk and protect your reputation

SMART INSURANCE SOLUTIONS AS RESPONSIVE AS YOUR FIRM

Law Firm & Lawyer Malpractice Insurance
for Larger Law Firms

STAY AHEAD OF POTENTIAL RISKS WITH INSURANCE THAT
GROWS AND CHANGES WITH YOU

You're not "big-law," yet your challenges are increasingly complex. Take advantage of our suite of resources that help you effectively and proactively manage and protect the day-to-day aspects of your firm before they become issues too big to handle.

Recommended Insurance Products for Law Firms with 5+ Attorneys

Protect your ability to help people with these three types of insurance every larger firm should carry.

ALPS Lawyers Malpractice Insurance

Lawyers' Malpractice Insurance

The Core Product for Any Law Firm

Lawyer's Professional Liability (LPL) is the most important insurance for attorneys to purchase.

Gain peace of mind with an application tailored for attorneys with our flagship, ALPS Property & Casualty Insurance. Our law firm experts also have access to a network of other carriers that offer protection to firms.

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Cyber Liability Insurance 

An Essential Layer of Protection 

Law firms must protect their digital footprint and ALPS has been at the forefront of providing lawyers with Cyber Liability Insurance policies.

When you safeguard your data with insurance options from ALPS, you protect the trust you build with your clients and ensure your reputation and livelihood are not at risk.

Icon representing business liability insurance

Business Liability Insurance

Coverage for law firm operations

Combining general liability (different from your professional liability) and commercial property insurance, your firm gets a blanket of protection.

A smart choice for larger firms because you work directly with clients, and your property has value. Get protected from client accidents and other uncontrollable scenarios.

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Workers' Compensation Insurance  

Mandatory in most states.

Don't let on-the-job injuries or illnesses impact more than productivity. Workers' Compensation Insurance provides financial protection from work-related employee injuries and illnesses.

Instead of having to defend yourself in court,  use workers’ compensation insurance to pay for an employee's job-related illness or injury.

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Employment Practices Liability

Protect your firm from the litigious nature of today's workplace.

Employment practices liability insurance (EPL) provides coverage for lawsuit expenses related to harassment claims, discrimination claims, and claims of wrongful termination. 

Attorneys are more aware than most that people today tend to sue first and sort out the details later.

Other Insurance Products Larger Law Firms Might Need

You should consider these other standard business insurance solutions.

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Crime
Insurance

Protect your firm from any losses due to theft or fraud.

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Commercial Auto
Insurance

Recommended if an attorney or employee drives for the firm.

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Bonds for
Attorneys

Can be required for court cases, real estate cases, etc.

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Directors & Officers
Liability

Recommended if an attorney is a director or officer.

 

Smart Protection for Your Larger Firm is Easy

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STEP 1

Select the Right Insurance For You

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STEP 2

Take Advantage of Resources for Your Firm

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STEP 3

Let Your Attorneys Focus on What They Do Best

Not sure which insurance is right for your firm?

Answer 5 Questions and Get Personalized Recommendations That Fit Your Firm

TAKE THE QUIZ
 

WITH THE CHALLENGES OF RUNNING A FIRM,
YOU DESERVE A PARTNER THAT'S EASY TO WORK WITH

Save-Time-with-One-Solution

Protect Your Work

With exclusive access to ALPS Property & Casualty, the largest direct writer of Legal Malpractice Insurance, you get access to insurance solutions no other agency can provide. 

Avoid-Insurance-Hassles

Protect Your Business

Stop wondering which insurance is right for you. We'll help you navigate which insurance you need, so you can spend your time with your clients.

Resources-to-Help-You-Improve

Resources to Help You Improve

We care about the entire lawyer. From a healthy law firm to a healthy you, ALPS cares about your well-being.

Deal-with-Law-Firm-Experts

Work With Law Firm Experts

Relax knowing you are partnering with the only national insurance company dedicated solely to lawyers and law firms.


Partner With A Company That Understands What it Takes to Build A Successful Law Firm. See What Others Have To Say.

 

THE ALPS GUIDE TO MANAGING YOUR LAW FIRM

Understand the impact of passive management on your law firm.

Understand the impact of passive management on your law firm.

FirmManagement

 

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Manage The Business Of Law

Get practical advice in the 5 most important areas of running your law firm and a successful business.

Icon depicting reduced employee turnoverReduce Employee Turnover

Learn how to define, create, and implement a law firm culture that attracts, motivates, and retains the right new attorneys.

Icon highlighting large law firm riskEliminate Large Firm Risks

As firms grow in size, so does their risk. Learn where vulnerability can hide and how to plan for success.


Check Out This Valuable Content Created Just for Attorneys in Larger Firms

ALPS Guide to Managing Your Firm Resource

The Guide to Managing Your Firm

Learn to proactively manage the day-to-day aspects before they become too big to handle.

Guide to Purchasing Law Firm Insurance Resources

Guide to Purchasing Insurance

Learn the basics of how to insure the business risks of running your own law practice.

True Cost of Insurance Resource

5 Things That Impact the Cost of Your Insurance

Learn what goes into how much you pay for such an important part of protecting your firm.

10 Shortcuts to Avoid Recession Related Claims Resource

The Top 10 Shortcuts to Avoid

Stay on top of the most common shortcuts & how to avoid common malpractice traps.

5 Tips to Avoid Recession Related Claims Resource

Tips to Avoid Recession-Related Claims

Get the tools you need today to hopefully avoid a recession-related claim in the future.

Sample Forms and Checklists Resources

Sample Forms & Checklists

Why recreate the wheel? It's easier to get back to work with these sample template forms.

Cyber Security Guide Resource

ALPS Guide to Cybersecurity

How to protect yourself and your firm while keeping the hackers at bay. Includes a printable checklist!

ALPS Legal Blog Resources

The ALPS Legal Blog & Resources

Get relevant content to address the unique challenges faced by attorneys today.

ALPS InBrief Podcast Resources

ALPS in Brief Podcast Episodes

Get new ideas and hear the stories that teach valuable risk management (& life) lessons.

Path To Lawyer Wellbeing Podcast Resources

Path to Well-Being in Law Podcast Episodes

Entertaining & conversational, with recognized well-being pioneers in the legal space.

 

Choosing the right partner to protect your firm shouldn't have to be difficult. With ALPS, you can get some time back in your day to focus on why you got into this business in the first place - helping people.

ALPS is Law Firm Insurance Made Easy