In Germany, lawyers are required by law to have professional liability insurance (Berufshaftpflichtversicherung) to protect against financial damages that may arise from legal errors or negligence. This insurance is mandatory for all lawyers, regardless of their area of expertise or the type of legal practice they operate.
The amount of coverage required varies depending on the type of legal work the lawyer performs, but it is generally set at a minimum of €250,000 per claim. However, many lawyers opt for higher coverage to ensure they are fully protected in the event of a legal claim.
The cost of professional liability insurance for lawyers in Germany can vary based on a range of factors, including the size of the law firm, the lawyer’s area of specialization, and their experience level. Some insurers may offer discounts for lawyers who have a good claims history or who work in low-risk areas of law.
If you are seeking legal services in Germany, it is important to ensure that the lawyer you choose has professional liability insurance in place. This can provide you with additional peace of mind that your legal interests are protected in the event of an error or omission on the part of the lawyer.