Supercharge lawyer protection with surprising D&O insurance choices
Cost Considerations and Financial Benefits
The cost of D&O insurance can vary widely based on several factors, including the size of the law firm, the areas of law practiced, and the firm's claims history. On average, small to mid-sized law firms might expect to pay between $5,000 and $10,000 annually for comprehensive D&O coverage2. However, the financial protection offered by these policies often outweighs the premium costs, providing peace of mind and financial security.
Moreover, many insurers provide discounts for bundled policies or for firms that demonstrate a commitment to compliance and risk management. By investing in D&O insurance, legal professionals can not only protect themselves but also potentially reduce overall insurance costs through strategic policy selection.