Re: Need some legal advice from some lawyers...
First, if you want real legal advice from an attorney, this is not the place to get it. That said, I'll offer my 59 cents (inflation) as a person who has spent many years in business and in life.
The reality of the world that we live in is that people sue each other over anything. It almost doesn't matter what you do or don't do, and you have to decide whether you are going to live your life in fear of this fact, or live it to your best potential.
Liability in the world of aviation is a mixed bag - on one hand, everything about it is high dollar but, on the other hand, its a very regulated and procedurally driven business. If you do become an A&P, you can bet that the FBO and/or Repair Station that you work for is going to have a lot of insurance. You can also expect to work in strict accordance with procedures and FAA regulations. Just about everything you do will be inspected by someone else and, in time, you will inspect the work of others.
As someone else mentioned, to do this sort of work, you need to be extremely detail oriented. If you choose to view me as an advisor on this (and, BTW, I have been an aircraft mechanic), the advice that I would give you, is to consider this aspect of a career as an A&P with greater concern than the liability issue. Chances are, if you do your work with meticulous detail, and in accordance with all instructions and regulations pertaining to what you are doing, you won't get sued. Simply put, if you do it by the book every time, and keep absolute track of your tools and materials, so that you don't accidentally leave anything in the aircraft, it becomes pretty hard to successfully sue you.
Add to this, the fact that those who sue will go after the money. As an individual mechanic, you won't have anything of great interest to those who sue. Compared to the money available via the insurance policies of the FBO, the airframe manufacturer, the manufacturers of all of the components in the aircraft, etc., you aren't going to be a significant source of potential money, and no one is likely to invest much in trying to get what you do have.
While I was in civilian aviation for many years, my experience as a mechanic was in the military so I will defer to others on advice about personal insurance for mechs. I think that what I would do if I were considering being an A&P as a career choice, is to do some homework. Talk to as many A&Ps as you can. Ask them if they have personal insurance policies for "malpractice." I would also talk to the bosses at the FBOs to get their opinions, and I would find a few insurance brokers that handle aviation insurance, to see if getting insured is the norm. They will also be able to tell you what it costs, if available.
