TLIE offers two types of professional liability insurance policies for Texas lawyers.
In general, the Regular Policy provides more comprehensive legal malpractice insurance coverage than the Basic Policy. As a lower cost alternative to the Regular Policy, the Basic Policy has lower limits, lower deductibles and less comprehensive coverage than the Regular Policy. The major differences between the two policies are noted below, subject to policy endorsements for unique situations.
Most TLIE policies have aggregate deductibles. This means that the maximum amount of deductible a TLIE insured would be required to pay for all claims made during a policy year is the deductible amount chosen. Other carriers often have “per claim” deductibles which apply to every claim.