This errors and omissions policy is tailored specifically for small to mid-size law firms with up to 50 attorneys, addressing the unique professional liability risks these firms face.
The LPL policy offers liability coverage up to $5 million per claim and $10 million in aggregate for wrongful acts such as misrepresentation or breach of fiduciary duty, which can result in financial harm to clients. Key coverage highlights include protection against losses from negligence, errors, and omissions during the performance of professional services. Additional benefits feature network privacy protection and coverage for innocent insured/vicarious liability.
The policy also includes several notable features, such as disciplinary proceedings coverage up to $50,000, defendants reimbursement of up to $50,000, predecessor firm coverage, and a non-practicing extended reporting endorsement.
Robert Remy, Vice President of Delegated Authority Business at HDI Global Insurance Company, commented on the partnership: “Together with the specialised expertise of First Indemnity Insurance Agency, we can quickly develop the necessary solutions to meet the evolving needs of our clients and protect them against the growing number of risks they face.”
Andrew A. Biggio, Executive Officer/Programme Manager at First Indemnity Insurance Agency, added: “We are excited about our new partnership with HDI. The added capacity and high-quality financial ratings of HDI will give law firms the security they need. The teams at First Indemnity and HDI clearly understand the specialised needs of law firms, which makes this partnership unique.”
In related news, HDI Global Insurance Company recently entered a multi-year fronting alliance with property and casualty insurer Hallmark Financial Services. Under this alliance, HDI Global will front the commercial business of Hallmark, while HDI Global Select Insurance Company will manage the aviation sector.
Source: Yahoo
