Covers the liability and legal-defence costs where a lawyer or law firm negligently causes loss to a client during professional work such as advisory, litigation, M&A advice or contract drafting. Written on a claims-made basis under Chubb's standard LPL wording.
N2N Insurance Brokerage does not represent any single insurer — it independently represents the client as an FSS-registered broker (Reg. No. 2026-012201). We compare the wordings, rates and service of AIG · Chubb · DB · Hyundai · KB · Meritz to propose the cover and price best suited to your risk. Each insurer's full wording is provided at application and binding.
Under the Attorney-at-Law Act and Article 680 of the Civil Act (mandate), a lawyer must handle the mandated matter with the care of a good manager. This cover responds to loss caused to a client by a breach of that duty of care (negligence) and to the lawyer's legal-defence costs.
Large and mid-size firms.
Solo and small practices.
FLOs and foreign-licensed lawyers.
Multi-professional practices.
| Retroactive cover | Covers incidents from past work too |
|---|---|
| Extended Reporting Period (ERP) | Incidents discovered 1–6 years after expiry |
| Limits | Per-claim and aggregate limits stated |
| Breach of confidentiality | Client-information leak |
|---|---|
| Insult and defamation | In the course of duties |
| Employer's liability | Relating to employing staff |
| Policy period | 1 year (Claims-Made) |
|---|---|
| Insurers | Chubb · Hyundai compared |
| Limits | Per claim KRW 0.5–5bn / aggregate KRW 1–20bn |
| Turnaround | 2–4 weeks |
The contract is void if the insured event has already occurred at conclusion. A handwritten signature is required. A commercial insurance contract concluded by a professional financial consumer cannot be withdrawn.
N2N Insurance Brokerage is a registered insurance broker under Article 89 of the Insurance Business Act (Reg. No. 2026-012201 · Business Reg. No. 611-23-02374). The Chubb insurer is Lina Insurance Co., Ltd.
Common risk patterns in legal practice — a five-scenario self-check
If negligence in advising or litigation representation causes loss to a client, it leads to the lawyer's professional liability.
Deadline-management mistakes — a missed limitation or appeal deadline, an unfiled document — can cause direct loss to a client.
Transactional work such as contract drafting and M&A advice can produce large losses if the advice is negligent.
The more lawyers, the greater the caseload and claims exposure, so liability risk must be managed at the firm level.
Foreign legal consultant offices, or combinations with patent or tax attorneys, have a broad scope of work, so cover must be designed with care.
Lawyers' professional liability insurance (LPL) covers loss caused to a client by negligence breaching the lawyer's duty to handle the mandate with “the care of a good manager” — errors in legal advice, negligence in litigation representation, missed limitation or appeal deadlines, unfiled documents. It is written on a claims-made basis: what triggers cover is not when the negligence occurred but whether a claim for damages was received from the client during the policy period. A claim arising from a past matter can be covered if it is made during the policy period, but claims or grounds for dispute already known before inception are excluded. Keeping cover in force without a lapse is the premise of protection.
Source: (standard insurance-textbook scenario)
The wording and structure points decision-makers most often overlook
LPL is written on a claims-made basis, covering claims made during the policy period. A lapse can leave claims from past matters in a gap in cover.
Grounds for dispute or claims known before inception are not covered. It is important to disclose accurately what is known at application.
Negligence in legal work is what is covered; the lawyer's or firm's own business-operation disputes, or wilful and criminal acts, are separate. Business-operation risk should be complemented by general liability cover.
The questions asked most when considering lawyers' professional liability insurance (LPL)
Under the Attorney-at-Law Act and Article 680 of the Civil Act (mandate), a lawyer must handle the mandate with the care of a good manager. LPL covers loss caused to a client by a breach of that duty of care (negligence) and the lawyer's legal-defence costs.
Loss caused to a client by negligence in performing the mandate — errors in legal advice, negligence in litigation representation, faulty contract drafting or M&A advice, missed limitation or appeal deadlines, unfiled documents — is what is covered.
It means cover is triggered not by when the negligence occurred but by whether a claim for damages was received from the client during the policy period. For this reason it is important to keep cover in force without a lapse.
A claim arising from a past matter can be covered if it is made during the policy period. However, claims or grounds for dispute already known before inception are excluded.
No. Loss from wilful acts, crime or fraud is excluded. LPL covers professional liability arising from “negligence.”
The insurer calculates it based on firm size and number of lawyers, revenue, the type and risk of matters and work handled, the limit, and past claims history. The exact premium and terms are confirmed after underwriting by insurers such as AIG, Chubb, DB, Hyundai, KB and Meritz.
