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Protection for you as an attorney Insurance for attorneys

Comprehensive coverage for your daily work
Financial safeguard against liability claims
Individual insurance and retirement solutions
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Key points at a glance
  • Individual insurance protection: Depending on what they practice and the structure of the law firm, attorneys will need different types of coverage. A tailored solution is the best protection against financial risks. 
  • Statutory and voluntary insurance: While some insurance is required by law, other products provide valuable additional protection for law firms and their employees. 
  • Retirement planning and security for the future: In addition to risk protection, careful retirement planning is essential for guaranteeing your long-term financial stability. 
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Insurance that attorneys should have

Whether you are a self-employed attorney or work for a law firm, having the right coverage is essential for minimizing financial and business risks. While self-employed attorneys can choose which insurance they would like, law firms with employees are subject to legal requirements, particularly for accident insurance. Adding on other coverages may be a wise step in order to protect yourself from liability risks, challenges facing your firm or cyber risks. Which insurance is required or recommended in your case depends on the structure of your firm and the business areas you work in. The following coverages give you the best protection:

Commercial third-party liability insurance

Commercial third-party liability insurance protects your law firm from claims for damages that arise from professional activities. This includes personal injury or property damage which may be caused by an accident in your office or an error involving a client deadline. Not only does it cover direct losses, it also covers the consequential costs and even clarifies the entitlement to benefits when substantiated or unsubstantiated claims are involved.. 

Professional liability insurance

As an attorney, you shoulder a great deal of responsibility because clients trust you with their legal problems, which often have far-reaching consequences. Providing inaccurate advice or missing deadlines can lead to considerable financial losses. This is why professional liability insurance is required by law for all attorneys in Switzerland. It provides protection against financial claims and ensures the financial stability of your law firm.

Accident insurance and supplemental accident coverage

Very little of the work in a law firm is likely to cause bodily harm, but accidents can happen anywhere – whether in an office or on the way to court. Employers are required by law to insure their employees against accidents. Mandatory accident insurance covers occupational and non-occupational accidents, while supplemental accident insurance enhances benefits for higher salaries and additional treatment costs. This means all your employees enjoy comprehensive coverage. But even self-employed attorneys should consider accident insurance to avoid a loss of income following an accident. 

Daily sickness benefits insurance

If an attorney is absent for a longer period of time due to an illness, this can have grave financial consequences for both the law firm and the attorney. Daily sickness benefits insurance ensures that salaries will continue to be paid and protects the company from financial distress. This insurance is a good idea for smaller law firms because they are generally dependent on a few individual specialists. The same applies to self-employed attorneys who are responsible for their clients and all the work processes involved in the legal profession. 

Cyber insurance and services

Digitalization offers numerous advantages, but risks such as data leaks and cyber attacks are on the rise. Attorneys work with highly sensitive client data that is an attractive target for hackers. Cyber insurance covers the costs of IT forensics, loss recovery and possible claims for damages. It provides professional support in a crisis situation and helps the firm to get back on its feet quickly. 

Commercial legal protection insurance

Even though as an attorney you specialize in legal litigation, this does not mean that you or your firm are free from being involved in your own legal disputes. Disputes with employees, landlords or contractual partners can be costly. Commercial legal protection  supports attorneys in legal disputes, safeguarding your firm so you can focus on your core business with your clients.

Claim scenario

In a disability case, a lawyer fails to appeal a judgment within the statutory deadline. The decision becomes legally binding and can no longer be appealed. The client claims that the decision would have been in his favor if the deadline had been met, and he subsequently sues for damages. The liability insurer reconstructs the assumed outcome of the proceedings and manages to settle the case with a payment, which it then covers. 

Retirement solutions for attorneys

In addition to protection against occupation risks, planning for your financial future also plays a decisive role. Careful retirement planning helps attorneys achieve long-term financial security regardless of whether they are self-employed or work for a law firm. Retirement saving can be divided into two main areas: 

Occupational benefits

Employers in Switzerland are required by law to enroll their employees in a Pillar 2 pension fund as soon as the first employee is hired. This basic coverage can be enhanced in a targeted fashion – such as with solutions for higher earners:

  • Management pensions: Give you more freedom in the choice of investment strategy and supplement the basic retirement plan in a targeted manner. With solutions like our 1e pension plan and Top Invest product, AXA makes flexible tailored retirement planning possible.

The following applies to self-employed attorneys: As a sole proprietor, joining a pension fund is voluntary. But if you own a GmbH or AG and pay yourself a salary, you are also required to enroll in Pillar 2.

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Private pensions

Pillar 3 retirement plans offer attorneys more options for saving for retirement while remaining flexible financially. Depending on your situation, there are two options available:

  • Pillar 3a: A tax-advantaged option for saving for retirement over the long term. This is a particularly good way for self-employed attorneys to supplement their Pillar 2 savings.
  • Pillar 3b: Flexible savings and investment options without any legal restrictions that can be adapted to personal objectives.

Summary: What insurance should attorneys have?

The best insurance protection will be based on the structure of your law firm and your individual needs. While self-employed attorneys are responsible for their own insurance, law firms with employees can benefit from group pension solutions and mandatory insurance.

Insurance for self-employed attorneys

  • Mandatory: Professional liability insurance

  • Recommended: Mandatory and supplemental accident insurance, commercial third-party liability insurance, daily sickness benefits insurance, cyber insurance, commercial legal protection insurance

Insurance for law firms with employees

  • Mandatory: Professional liability insurance, statutory accident insurance

  • Recommended: Supplemental accident insurance, commercial third-party liability insurance, daily sickness benefits insurance, cyber insurance, commercial legal protection insurance

Well-planned insurance coverage allows you to fully focus on your law firm without having to worry about financial loss or business risks. We’ll be happy to advise you.

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