Professional liability program is called LawyerGuard
Willis has launched a new insurance program designed to address the professional liability coverage needs of law firms.
The underwriter for the LawyerGuard program is Catlin Insurance Company. The program will be offered on an admitted basis in all available states and the District of Columbia.
To date, form and rate filings for the new program have been approved in 37 states.
The program offers coverage, including mutual choice of counsel, a reduction in deductible for claims settled through mediation, high limits for disciplinary proceedings and loss of earnings coverage, express malicious prosecution coverage, and free unlimited extended reporting periods for the disability or death of an individual attorney. The program also allows for individual attorneys to purchase a retirement tail.
The policy also provides coverage for activities not only taken as an attorney, but also as a member of a professional association, as an arbitrator/mediator, notary, lobbyist, title agent or as a publisher of research papers.
Punitive damages are covered under the policy unless deemed uninsurable in a particular jurisdiction. In certain situations the insured law firm is also eligible for crisis event coverage to offset the costs of a public relations firm to lessen the potential adverse impact on its reputation from covered events.
“We are very excited about the launch of this new lawyers’ professional liability insurance program for non-defense attorneys,” said David Hampson, President of Willis Programs. “This is a significant complement to our existing lawyers’ professional liability program designed for defense firms of all sizes, which is sponsored by DRI, the largest international membership organization of defense attorneys. The combination of these two programs will make LawyerGuard an even more significant player in the national lawyers’ professional liability market.”