Coverage Highlights
- Professional liability, admitted and non-admitted options
- Third-party cyber liability, including social engineering incidents
- Supplemental payments, including:
- Crisis management expenses
- Appearance at proceedings
- Disciplinary proceedings
- Subpoena assistance
Coverage Limits
- Primary maximum limits of $5 million per claim, $10 million aggregate
- Excess maximum limits of $10 million per claim, $20 million aggregate
- $25,000 minimum deductible
Appetite & Availability
Target risks
- U.S. law firms with 10-100 attorneys but will consider larger firms
- Admitted product available in most states for qualifying risks (subject to state approval)
- Non-admitted (surplus lines) product available for hard-to-place risks, including firms with claims issues, difficult areas of practice, disciplinary issues or unusual coverage requests
- Will consider lead or participating quota share coverage with qualified carriers
Non-targeted risks
- Firms with fewer than 10 attorneys
- Firms specializing in intellectual property, securities (including
IPOs), and entertainment
Additional Information
- Broad definition of damages
- Expansive definition of professional services
- Protection for innocent policyholders and automatic inclusion of contract, counsel and former attorneys doing work on behalf of the firm
- Prior acts coverage
- Broad definition or personal injury offense, including misrepresentation in advertising
- Non-practicing extended reporting period
- Up to $25,000 deductible credit for voluntary mediation
- Insured’s consent is required to settle (50/50 modified consent to settle clause)
- Risk management services available for all primary insureds
- High-quality claims service
- ERP up to 6 years
Coverage is always subject to all of a policy’s terms and conditions. This is a summary of certain key aspects of coverage. Review the policy form for complete terms and conditions. Products are underwritten by U.S. insurers that are members of Argo Group. Some products are only available through an authorized surplus lines insurer.
