HDI announces new Lawyers’ Professional Liability product
HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE, announced that they have formed a strategic partnership with First Indemnity Insurance Agency to provide Lawyers’ Professional Liability insurance, an errors and omissions policy intended for small to midsized law firms.
Designed for law firms with 50 or fewer attorneys, the LPL policy addresses the professional liability exposures faced by law firms and provides up to $5M /10M in liability coverage that could arise from “wrongful acts” committed in the rendering of legal services. This includes acts, errors or omissions that cause financial harm to another person or entity, such as misrepresentation, breach of fiduciary duty, violation of good faith, failure to know the law and fair dealing, and inaccurate advice. Coverage highlights include:
– Protection to legal professionals against losses resulting from negligence, errors and omissions in the performance of professional services.
Key policy highlights:
- Network Privacy Protection
- Innocent Insured/Vicarious Liability
- Disciplinary Proceedings $50,000 Each
- Defendants Reimbursement $50,000
- Predecessor Firm Coverage/Prior Law Firm Coverage
- Non-Practicing Extended Reporting Endorsement
“Together with the specialized expertise of First Indemnity Insurance Agency, Inc., we can quickly develop the necessary solutions to meet the evolving needs of our clients and protect them against the growing number of risks that they face.” – Robert Remy, Vice President of Delegated Authority Business, HDI Global Insurance Company.
“We are excited about our new partnership with HDI. The added capacity with the high-quality financial ratings of HDI will give law firms the security they need. The teams at First Indemnity and HDI clearly understand the specialized needs of law firms which make this partnership unique.” – Andrew A Biggio, Executive Officer/Program Manager.
