Lawyers gain broadened professional liability coverage from OneBeacon

OneBeacon Insurance Group member, OneBeacon Professional Insurance (OBPI), has launched a broadened lawyers’ professional liability (LPL) coverage so that its protections will now include network security and privacy (NSP) liability. Lawyers can access this new offering in either of two possible ways, which are: 1. As an LPL policy endorsement 2. As its own standalone coverage According to the OBPI senior vice president of the LPL division, Kim Noble, these days, a law firm’s lifeblood is its information systems, and it is vital to protect those systems, as they may…

Read More

In-house attorneys see greater coverage against malpractice allegations with Chubb

Chubb Group of Insurance Companies has announced that it will now be offering a new policy that is designed to help cover the in-house attorneys and their personal assets against allegations of legal malpractice. ChubbSM’s Employed Lawyers Professional Liability will give broad protection to employers as well as their in-house attorneys when they offer services provided by counsel in-house for such activities as providing the board of directors with legal opinions, or giving a review of shareholder communications. The protection is designed to cover defense, settlements, and judgments. It can…

Read More

Malpractice claims are on the rise, according to a recent survey

According to a recent study, law firms have seen more malpractice and professional liability claims against them so far in 2011 than they had in previous years, which is likely a result of the recent economic recession and the slow recovery of the economy. Ames & Gough, an insurance broker, released the results of their most recent study which found that professional liability claims made against lawyers have risen, leading insurance companies to provide as much as 20 percent more coverage in 2011 for the exposure. The study looked into…

Read More