Legal malpractice policies usually provide coverage for claims that arise from ''wrongful acts'' committed when providing legal services and provide both indemnification coverage and claims-expense coverage. Covered acts also include a variety of services regularly provided by lawyers as offshoots of their practices, such as:
Reinsurance is the protection of one insurance company by another from risks of losses caused by either human error or natural calamities such as death, sickness, lawsuits, earthquakes, and hurricanes. Standard insurance policies can be given to both corporations and individuals to provide protection against the above risks. Providing insurance to the insurance companies that provide those standard policies, then, is what is referred to as reinsurance. There are reinsurance attorneys who specifically handle any claims made over damages resulting from an unfortunate event, in addition to handling any resultant litigation.
It would be hard to imagine any corporation or business entity without an insurance program, or risk management as it is sometimes known. The only differences are essentially those dictated by the varying needs of the organization and the number of persons necessary to accomplish the individual company's objectives.