Insurance Program Results
Lawyers (Law Firms) | Rates On The Upswing
Expect carriers writing lawyers to revise rates, especially in trust/estate law and family law, where there has been an accrual of third-party claims. The real estate claims that cropped up during the last recession have worked their way through the legal system and now trust and estate law cases generate the most of the claims in this segment. Despite flat claims frequency, Crittenden expects severity to remain an issue, continuing to push up rates up significantly during the next year.
The courts’ relaxation of limitations that only people who had an attorney-client relationship can sue lawyers and law firms has led to an uptick in these third-party claims, especially those related to trust and estate/probate law and family law. A growing number of lawsuits are arising from beneficiaries who felt that the lawyer’s negligence led to a failure of the disposition of a trust. This is increasing the cost to defend
and settle claims. Top carriers have paid individual claims totaling $20 million or more. Even claims of $100 million have cropped up in the segment.
Double-Digits Jumps
The Bar Plan Mutual increased rates by 5 percent in Kansas, Indiana, and Tennessee and by 2 percent in Missouri at the start of the new year. The Hartford increased rates by double-digit percentages in various venues last...
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Nonstandard Lawyers Professional Liability
Administered By: Monitor Liability Managers
Distribution: Carrier Direct
| Industries: |
Lawyers |
|---|
Carriers: Admiral Insurance Co.
Coverage: Excess, Professional Liability
Limits:
Standard Lawyers Professional Liability
Administered By: Monitor Liability Managers
Distribution: Carrier Direct
| Industries: |
Lawyers |
|---|
Carriers: Berkley Insurance Co.
Coverage: Excess, Professional Liability, Umbrella/Excess
Limits: up to $5 million
Beazley Breach Response Select
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Accountable Care Organizations (ACOs), Acupuncturist, Allied Health, Art Galleries/Fine Art/Museums/Antique Dealers, Assisted Living Facilities, Chiropractors, Civic Clubs (Nonprofit), Colleges & Universities, Continuing Care Retirement Communities (CCRCs), Day Spas, Dentists, Education & Nonprofit, Emergency Response Services (Ambulance), Gastroenterologist, Health Maintenance Organization (HMO), Healthcare Systems, Hospice, Hospitality (Hotels/Motels), Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Independent Living Facilities, Laboratories, Lawyers, Long-Term Care Facilities (LTC), Managed Care Organizations, Massage Therapy/Therapists, Mental Health/Behavioral (Counseling/Counselors), Midwives, Non Emergency Transportation (Medical), Nurse/Staffing Registries, Nursing Homes/Skilled Nursing Facilities, Opticians, Pharmacies, Pharmacists, Physicians, Podiatrists, Private/Charter Schools, Psychiatric Facilities/Hospitals, Psychologists, Rehabilitation Facilities, Research/Research Organizations (Clinical, Etc.), Retail, Schools, Schools (Adult Education), Substance Abuse Rehabilitation Facilities & Services, Surgeons, Therapy/Therapists, Weight Loss Clinics |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Excess, Umbrella/Excess
Limits: up to $5 million
Lawyers-National & Global Law Firms
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Crime, Cyber Liability, Excess, Fiduciary Liability, Management Liability, Professional Liability, Umbrella/Excess
Limits: up to $25 million (at 100 percent or on Subscription Basis)
Lawyers-Regional Law Firms
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Crime, Cyber Liability, Employment Practices Liability (EPL), Excess, Fiduciary Liability, Management Liability, Professional Liability, Umbrella/Excess
Limits: up to $10 million (at 100 percent)
Lawyers-Specialist Law Firms
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Professional Liability
Limits: up to $20 million (Subscription Basis), up to $5 million (at 100 percent)
LawGold
Administered By: Jorgensen & Co.
Distribution: MGU
| Industries: |
Lawyers |
|---|
Carriers: Freedom Specialty Insurance Co.
Coverage: Accidental Death & Dismemberment, Extended Reporting Period/Tail, Predecessor & Successor Liability, Professional Liability
Limits: up to $5 million
Lawyers
Administered By: Ironshore
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Ironshore Inc.
Coverage: Professional Liability
Limits: up to $15 million
Primary Lawyers Professional Liability
Administered By: ProAccess LLC
Distribution: MGU
| Industries: |
Lawyers |
|---|
Carriers: Gotham Insurance Co., National Surety Corp., Nautilus Insurance Co., New York Marine and General Insurance Co., ProSight Specialty Insurance Group
Coverage: Cyber Liability, Professional Liability
Limits: up to $10 million
Professional E&O Liability Insurance
Administered By: Markel
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Markel Corp.
Coverage: Professional Liability
Limits:
The Firemark
Administered By: Jorgensen & Co.
Distribution: MGU
| Industries: |
Arbitrators & Mediators, Lawyers, Notary Public, Title/Escrow Agents |
|---|
Carriers: Freedom Specialty Insurance Co., Scottsdale Indemnity Co, Scottsdale Insurance Co.
Coverage: Cyber Liability, Media Liability, Predecessor & Successor Liability, Professional Liability
Limits: up to - $100,000 (Supplementary Claims Expense Coverage), up to - $30,000 (Not For Profit Directorships Coverage $15,000 per claim / $30,000 per policy period Reputation Protection Coverage $10,000 per claim / $30,000 per policy period), up to - $25,000 (First Party Cyber Liability, Discrimination Complaint Regulatory Coverage.), up to - $50,000 (Disciplinary Proceedings Coverage), up to - $4 million
Huntersure Law Firm Errors and Omissions Insurance
Administered By: Huntersure LLC
Distribution: MGA
| Industries: |
Lawyers |
|---|
Carriers: Scottsdale Insurance Co.
Coverage: Errors & Omissions (E&O)
Limits: up to $10 million (Aggregate limits available)
Huntersure Law Firm Errors and Omissions (Small/Medium Firms)
Administered By: Huntersure LLC
Distribution: MGA
| Industries: |
Lawyers |
|---|
Carriers: Hudson Specialty Insurance Co.
Coverage: Errors & Omissions (E&O)
Limits: up to $5 million/$10 million
Lawyers Professional Liability
Administered By: ProSight Specialty Insurance
Distribution: Carrier Direct
| Industries: |
Lawyers |
|---|
Carriers: New York Marine and General Insurance Co., ProSight Specialty Insurance Group
Coverage: Legal Liability, Professional Liability
Limits: up to $10 million (ProAccess Program)
Allied World LPL Assure
Administered By: Allied World
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: Allied World Assurance Co.
Coverage: Professional Liability
Limits: up to $5 million (Primary)
Argo Flex-XS℠
Administered By: Argo Pro
Distribution: Direct/Broker
| Industries: |
Accountants & Accounting Services, Directors & Officers (D&O), Financial Consultants/Planners, Insurance Companies, Lawyers |
|---|
Carriers: Argonaut Insurance Co.
Coverage: Crime, Cyber Liability, Directors & Officers (D&O), Excess, Fidelity, Fiduciary Liability, Miscellaneous Professional Liability, Professional Liability, Umbrella/Excess
Limits: up to $15 Million
AttorneyShield
Administered By: Professional Solutions Insurance
Distribution: Carrier Direct
| Industries: |
Lawyers |
|---|
Carriers: Professional Solutions Insurance Co.
Coverage: Professional Liability
Limits: $100,000/$300,000 - $5,000,000/$5,000,000
Employment Practices Liability
Administered By: Kinsale Insurance
Distribution: Carrier Direct
| Industries: |
Accountants & Accounting Services, Architects & Engineers (A&E), Art Galleries/Fine Art/Museums/Antique Dealers, Auto Service and Repair, Auto/Car Dealerships, Aviation Risks & Airports, Banks, Brokers/Dealers, Camps (Youth, Sports & Enrichment), Chemical Manufacturers/Distributors, Commercial Auto (Public Transportation), Construction Equipment/Machinery/Materials, Educational Risks (School Administrators), Energy Companies, Film Risks, Gas Stations, Hospitality (Hotels/Motels), Insurance Agents, Insurance Companies, Investment Advisers, Lawyers, Logging/Lumber/Forestry Risks, Manufacturers (Hardware), Manufacturers/Manufacturing Risks, Mine/Mining Risks, Miscellaneous Risks, Museums, Nonprofit Organizations, Real Estate Agent/Broker, Research/Research Organizations (Clinical, Etc.), Restaurants, Retail, Social Services, Utility Companies |
|---|
Carriers: Kinsale Insurance Co.
Coverage: Bodily/Personal Injury, Employment Practices Liability (EPL)
Limits: up to $5 million/$5 million (Primary Limits)
E&O for Lawyers
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Lawyers |
|---|
Carriers: XL Catlin Insurance Co., Inc.
Coverage: Errors & Omissions (E&O), Excess
Limits: up to $5 Million
E&O For Tech/Media/Telecom
Administered By: XL Catlin
Distribution: Direct/Broker
| Industries: |
Accountants & Accounting Services, Colleges & Universities, Digital & Software Development, Distribution Risks, Energy Companies, Financial Institutions, Healthcare Systems, Insurance Agents, Lawyers, Manufacturers (Hardware), Manufacturers/Manufacturing Risks, Real Estate Agent/Broker, Retail, Technology Risks, Telecommunication Services |
|---|
Carriers: XL Insurance Co.
Coverage: Cyber Liability, Data Security, Errors & Omissions (E&O), Excess, Network Security Liability, Privacy Liability/Notification Expense, Umbrella/Excess
Limits: up to $10 million