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Professional Liability Issues for Lawyers: Types & Insurance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Insurance that covers you for a loss you incurred is called:

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1. Let's say Ron had a claims made insurance policy that went from January 1, 2000, to January 1, 2001; which event below would be covered.

2. If an insurance policy covers acts committed during a specific policy period, even if the claim was made after the policy ends, this is called:

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About This Quiz & Worksheet

Professional liability issues for lawyers will be the focus of the quiz and an attached worksheet. Make sure you understand key topics such as a type of insurance that covers you for a loss you incurred and the coverage through a claims made insurance policy.

Quiz & Worksheet Goals

These areas will be covered on the quiz:

  • Policy that covers any act made during the policy period
  • A policy that covers any gaps for negligent acts
  • Coverage associated with a lawyer stealing money from a trust fund

Skills Practiced

  • Reading comprehension - make sure you know the most important information from the lesson on professional liability issues for lawyers, including claims made insurance policies
  • Information recall - access the knowledge you've gained regarding a policy that covers any act during a policy period even if a claim is made after a policy ends
  • Knowledge application - use your knowledge to answer questions about a type of insurance policy that covers gaps for negligent acts and a policy that ensures coverage for an incurred loss

Additional Learning

Feel free to study more on liability in law with the lesson entitled Professional Liability Issues for Lawyers: Types & Insurance. These points will be addressed:

  • Main purpose of having an insurance policy
  • Three types of professional liability insurance
  • Fiduciary duty of an attorney
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