Lawyers Professional Liability: LawyerGuard

Admitted

Jurisdiction: All U.S. states except Alaska and Oregon

Admission: Admitted

Limits: Up to $5,000,000

Target Appetite:

Firms with 1 to 100 full-time attorneys that engage in:

• General practice (private)
• Most other areas, including but not limited to:
  • Banking / Financial Institutions (up to 25%)
  • Collections
  • Entertainment (excludes high profile)
  • Patent Litigation
  • Plaintiff Work BI / PI
  • Real Estate Work
  • Securities (up to 15%)

Firms that have operations with:

• Revenue per attorney between $200,000 and $400,000
• No single client that is a high percent of the firm’s revenue (excludes insurance companies)
• Conflict checks solid
• Docket control (dual and independently monitored)
• Engagement letters are always utilized
• Firm Receivables (low % > 180 days)
• Fee Suits (limited number)
• Prefer no Officer / Director / Ownership in client

Coverage Features:

• 1, 2, 3, 5 year and unlimited tail options included in policy (includes 60-day automatic ERP)
• Claim Expenses Outside Limits*
• Coverage for Independent Contractors and Of Counsels
• Coverage for punitive damages on a “most favorable law” basis
• Crisis event coverage
• Death / disability tails included
• Express coverage for malicious prosecution under the definition of personal injury
• High loss of earnings and disciplinary defense coverage limits
• Liberalization Clause
• Loss Only and Aggregate Deductibles*
• Mutual choice of counsel
• No deductible for claims from pro bono work
• Ownership interest in clients up to 20%
• Pre- / post-judgment interest (where allowable by law)
• Pre-claim assistance
• Primary coverage
• Provides a 50% reduction in the deductible if the claim is settled through mediation (subject to a $25,000 maximum)
• Retirement tail with no minimum retirement age included
• Soft hammer clause
• Subpoena assistance coverage

*Available to qualifying firms.

The Preferred Program for Defense Attorneys

LawyerGuard has been the only Lawyers Professional Liability insurance program endorsed by the DRI – The Voice of the Defense Bar. As the preferred program for defense attorneys, LawyerGuard is designed for law firms of all sizes engaged in at least 51% defense work and is open to DRI members and non-members.

Program Highlights:

• Automatic 10% reduction in the deductible
• An additional premium credit of 10 to 15%
• An endorsement to the policy that eliminates five exclusions
• Subpoena assistance coverage uncapped

Non-Admitted

Insurer: Insurance written by carriers rated “A+” by A.M. Best

Jurisdiction: All U.S. states except Alaska and Oregon

Admission: Non-Admitted

Limits: Up to $5,000,000

Target Appetite:

Admitted appetite in addition to the following:

• Plaintiff Bodily Injury / Property Damage (over admitted case values)
• Class Action
• Intellectual Property
• Entertainment
• Claim Activity (severity / frequency over admitted thresholds)
• Collections / Repossession (greater than $3M limits and over 50% AOP)
• Immigration practice including investment immigration practice (i.e., EB-5)
• Real Estate (over admitted transaction values)
• Lapses in Coverage
• Environmental Law (Litigation)
• Oil / Gas / Natural Resources (includes consideration for mining)
• Additional or manuscript coverage requests
• Gaming Law
• Energy Law
• Cyber Law
• Aviation Law
• Product Liability

Coverage Features:

• Primary and Excess coverage
• Follow Form Excess coverage
• Risk management and loss control services
• Expansive definition of professional services
• Full prior acts and predecessor coverage available
• Supplementary coverage available including:
  • Crisis event coverage up to $20,000 per event
  • Disciplinary proceeding defense up to $30,000 per proceeding
  • Loss of earnings up to $500 per day / $15,000 per claim
  • Subpoena coverage up to $25,000
• Named insured has the right to consent to settlement
• Reduced deductible for claims settled using mediation
• 50/50 Softened Hammer Clause
• No deductible for claims arising from pro bono services
• Punitive damages coverage (if insurable under applicable law)
• Tail coverage available including:
  • Tails for 1, 2, 3, or 5 Years
  • Retirement Tail included
  • Death / Disability Tail included