Thursday, April 8, 2010

I want to help protect my practice…

“What is professional overhead expense insurance?” an ABA member asked me today. I told the member that this type of plan is not always available through insurance agents or brokers and can be one of the most valuable insurance plans a solo or small firm lawyer can purchase. Although the name may be odd, the ABE-sponsored Group Professional Overhead Expense Insurance plan helps cover your office expenses if you are disabled and unable to work. For many solo and small firm lawyers, it is a necessary supplement to personal disability insurance, because it pays your share of office expenses for up to one year while you are disabled. The monthly benefits paid by this plan can help your office continue to stay opened and functioning while you are recuperating from a disabling illness or injury. Solos and partners in firms with up to five attorneys can purchase Professional Overhead Expense insurance in amounts from $500 a month to $10,000 a month. If no one but you is responsible for your overhead, read more about whether this type of insurance is right for you at our website or give me a call to find out more.

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