Is there any type of insurance that would cover legal fees, and in the event an arbitration case is lost, the damages to be recovered?

Get Legal Help Today

 Secured with SHA-256 Encryption

Is there any type of insurance that would cover legal fees, and in the event an arbitration case is lost, the damages to be recovered?

Asked on August 17, 2010 under Insurance Law, Oklahoma

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If you have some form of applicable insurance, the insurer will generally pay for your legal defense (and indeed, provide the attorney) as well as pay any awards against you, at least up to policy limits. The issue is whether or not the insurance (1) generally applies to your situation and (2) even if it does, whether or not you did anything that would invalidate or exclude coverage. For example: if you have automobile liability insurance, it will usually defend and cover you if sued for injuries you cause another--unless you were DUI. Many commercial policies will not cover deliberate acts.

So the answer is, there are many kinds of insurance, and generally each will provide legal defense as well as pay claims, up to its policy limits, for covered events. You need to determine what kind of risk you are looking to insurer against, then speak with insureres to see what is available. There is no blanket "lawsuit" coverage--for example, auto insurance doesn't cover a slip and fall; general commercial insurance won't cover an injury at home--so you need to target coverage to the risk.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption