The growing potential of the corporate legal world in the current socio-economic environment pose a challenge for the lawyers. This is because of combination of factors including an increasing reliance upon professional advice, the complexity of work carried out, and a raised awareness of legal rights. In addition, in the times of economic slump, losses suffered are more evident. In such scenarios when a lawyer fails to provide competent services to his or her client, the hurt client can sue the lawyer for professional negligence who thinks the service received was not worth the fee given.
Legal Liability Scenarios:
|Particulars||Premium excluding Service Tax (INR)|
|Gross Annual Income (INR) up to||25,00,000||50,00,000||1,00,00,000||2,00,00,000|