Willis Programs, a unit of Willis Group Holdings, the global insurance broker, announced today that its LawyerGuard® unit has launched a new insurance program designed to address the professional liability coverage needs of law firms with one to 20 attorneys in general practice areas.
The underwriter for the LawyerGuard program is Catlin Insurance Company, Inc., rated “A” XV by A.M. Best and a subsidiary of Catlin Group Limited, a leading global specialty insurance and reinsurance group. 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 numerous coverage enhancements, 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 at very attractive rates.
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 also 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.
David Hampson, President of Willis Programs said: “We are very excited about the launch of this new lawyers’ professional liability insurance program for non-defense attorneys”. “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.”
In addition to underwriting the new Willis program, Catlin Insurance Company, Inc. will become the new carrier for the existing Willis-DRI program beginning on January 1, 2010.
Stephen van Wert, Program Manager for the LawyerGuard program said: “We expect to achieve significant growth as a result of our new policy enhancements and competitive pricing structure in both programs”. “Catlin is looking to increase its presence in the US lawyers’ professional liability marketplace and we are delighted that they decided to work with Willis to help them achieve that goal.” Mr. van Wert has significant experience in the lawyers’ professional liability field, having run a $40 million lawyers program for most of the last ten years, as well having prior experience as a practicing attorney himself.
Additional information and applications for the new program and the Willis-DRI program can be obtained at the LawyerGuard website at ww.lawyerguard.com or by contacting Mr. van Wert at (813) 712-7032 or at steve.vanwert@willis.com .
