As law firms continue to look for new, entrepreneurial legal products to offer to their clients, the list of services their Professional Liability contract is asked to cover is constantly growing. Today's top law firms are more a part of the infrastructure of worldwide daily business activities, than ever before. And the protection they require from the Professional Liability coverage must take into account all services they are providing to their clients.
At EWI, we possess the polished market knowledge and technical expertise to tailor coverage for each aspect of a law firm's potential professional exposure. We have experience on both the transactional (individual accounts) and program sides of this coverage and provide creative insurance solutions for the Entertainment Specialist Sole Practitioner to the Blue Chip Multi-National Corporate Firms.
Defense and Settlement provisions must be reviewed to insure that the insured has the right to select the choice of defense counsel and policies must be scrutinized relative to any limit on what the insurer will pay if the insured refuses to settle.
Law firms, like many other businesses may find potential sources of liability within the firm itself. Employment Practices Liability coverage for law firms is often a topic of serious discussion; however, the coverage is not purchased as widely as it should be. In addition to the myriad employment exposures that law firms face, the problem gets more serious if an employee is passed over for partnership.
Many insurers will not provide this type of coverage to legal firms, citing the potential severity of insuring this type of exposure. We have access to an Employment Practices Liability product that was designed specifically with law firms in mind. The policy, among other things does include Failure to Make Partner coverage and provides the broadest protection for a law firm's employment issues.