At ProLawyer Insurance, LLC, we recognize that all law practices are unique and tailor policies to meet their insurance needs. In certain instances, law firms may not qualify for an admitted market policy for various reasons and surplus lines/non-standard market coverage is required for “tough to place” practices. There are a number of reasons a firm may fall into this category. Some of the most common include:
- Claims experience
- Disciplinary action
- Area of practice, such as SEC, Class Action, Environmental, Entertainment, Patent, Oil/Gas
- New sole practitioner firm without prior experience
Through our affiliation with various insurance carriers and focused expertise in Lawyer Professional Liability, ProLawyer is able to offer exceptional coverage and value-added services to your law firm clients that may fall into this segment. Eligible firms include those with up to 50 attorneys in most areas of practice and will generally fit within one of the following categories:
“True” Surplus: Firms that do not meet standard admitted markets criteria, including those with complex areas of practice
“But-for Claims” Surplus: Firms that would otherwise be suitable for an admitted market policy but-for past claims experience
Excess: Firms that require a second layer of coverage above their primary policy
Surplus lines/non-standard market policies will vary and are based upon the merits of the particular law firm. Some general policy features may include:
- A broad definition of legal services
- Endorsement specifically addressing Privacy and Network Security Wrongful Acts with coverage up to the full policy limit for no additional premium
- Extended reporting period (ERP) options
- Worldwide coverage