Law Firm Insurance Coverage Checklist
The coverages a law firm business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for law firms. Priorities reflect typical exposure; confirm against practice areas and trust balances.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Lawyers Professional Liability | Covers malpractice claims — confirm prior-acts coverage and limits by practice area. | Core | |
| Social Engineering / Funds Transfer Fraud | Covers trust or closing funds sent on fraudulent instructions. | Core | |
| Cyber Liability | Covers breaches of client data and notification costs. | Core | |
| Crime / Fidelity | Covers employee theft from trust or operating accounts. | Prevalent | |
| Employment Practices Liability | Covers claims from attorneys and staff. | Prevalent |
The coverage gap most often missed
The most commonly missed gap for this class is social-engineering coverage for trust funds. Impersonators target law-firm closing and settlement funds — in August 2025, buyers wired more than $449,000 after an email impersonating their attorneys — and malpractice policies often exclude the loss of the funds themselves. Firms should confirm social-engineering limits, reconcile trust accounts monthly, and verify every wire by phone.
Send us the checklist and we'll review your law firm coverage line by line, then market it across multiple carriers that compete for your account.
Related: Law Firm Insurance · Law Firm Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a law firm business need?
The core coverages for a law firm business are Lawyers Professional Liability, Social Engineering / Funds Transfer Fraud, Cyber Liability. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my law firm coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.