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AILA Lawyers Professional Liability Insurance

AILA Lawyers Professional Liability Insurance Program

Cite as "AILA InfoNet Doc. No. 10120180 (posted Dec. 1, 2010)"

AILA Lawyers Professional Liability Insurance

To receive a free, no-obligation, proposal from the AILA LPLI program, download the application, e-mail getquoted@aila.org or call toll-free 1-877-600-AILA (1-877-600-2452).

As one of several risk management best practices, a lawyers professional liability insurance policy will protect you and your firm from financial loss arising out of your mistakes, errors and omissions in the course of providing legal advice to your clients. Attorneys in private practice have a 4% to 17% chance of being sued for malpractice each year. Depending on their jurisdiction and area of practice, according to the American Bar Association (ABA), this number has been steadily increasing over the past twenty years.

Even the best-run law firms can be sued! Legal malpractice claims can occur in good or bad economic times. It is important to realize that even baseless claims can have a significant financial impact on a law firm. A well-constructed insurance program can help protect a firm from these exposures. Coverage also protects your clients from significant financial loss in case you make a mistake.

The AILA Lawyers Professional Liability Insurance Program (LPLI) is designed specifically to enhance your practice and add value to your AILA membership. This unique program, offered exclusively to you as a member, delivers enhanced professional liability insurance coverage protection at a preferred rate not available to non-members. The program is offered in all 50 states and the District of Columbia.

Effective June 1, 2013, the Leavitt Group is our new program manager and commercial broker. The goal is to ensure that you have the protection you need both for yourself and your practice. The Leavitt Group will advocate for competitive pricing and product excellence on behalf of AILA members.

As the 3rd largest privately-held insurance brokerage in the nation, the Leavitt Group brings you the national resources, expertise, problem-solving skills, and key insurance company and underwriting relationships that will result in an effective risk management strategy. They strive to create lasting client relationships. As a privately-held firm, performance is not judged by Wall Street every quarter, but rather by the quality of relationships they maintain.

The Hanover Insurance Group (and AIX Specialty Insurance Company, a member of The Hanover Insurance Group) is the insurance underwriters for our Professional Liability Insurance Program. The Hanover is an excellent carrier that is financially stable with assets in the billions, and a financial rating of "A" or "Excellent."

The AILA Lawyers Professional Liability Insurance Program includes the following featured coverage enhancements at no additional charge -

  • Coverage applies to all law firm members for work done on behalf of the firm, including Of Counsel and independent contractor lawyers, and non-lawyer employees and independent contractors
  • Coverage includes
    • $50,000 for defense of disciplinary complaints
    • subpoena assistance
    • pre-claim assistance
  • Coverage applies to predecessor firms
  • Policy includes a broad definition of "professional services," including services rendered as a mediator, arbitrator, or notary public; title insurance agent; speaker, author of legal treatises or lobbyist; and activities as a member of a professional board or committee
  • Deductible is written on an aggregate basis, as opposed to "per claim"
  • Deductible applies to indemnity payments only, not defense expenses
  • Deductible is reduced by 50% (up to a maximum of $10,000) if a claim is resolved by mediation
  • Coverage includes up to $50,000 in punitive damages where allowed by law
  • Loss of Income Reimbursement for attendance at claim hearings, trials, or depositions at the insurance company's request - subject to sub-limits per day/claim/policy
  • Coverage includes a $50,000 supplemental limit per policy period for the defense of employment practices claims
  • Firm may recommend defense counsel
  • Coverage is included for claims arising out of professional services provided to firm clients - where the law firm or law firm members have ownership in their client up to a maximum of 5% if the client is publicly traded or 15%, if not publicly traded
  • Coverage applies to work done anywhere in the world if suit is brought in the US or Canada
  • The policy has no securities exclusions
  • The insured has 60 days after the policy expires to report claims or potential claims
  • The firm may purchase an Extended Reporting Period for one, two, three, five or eight years or an unlimited period
  • Individual insureds are eligible for a free unlimited Extended Reporting Period in the event of death or disability, or retirement after age 55 and three years of uninterrupted coverage with the Hanover Companies
  • Online risk management tools and resources (risk management website, newsletter, alerts and more) to assist you in avoiding errors before they evolve into full-blown, expense claims

Optional policy endorsements are available (e.g., increase coverage for defense of disciplinary complaints, supplemental limits for damages and claims expenses resulting from network or information security breaches; and supplemental limit for fees, costs, and expenses incurred for consulting services performed by a public relations firm relating to a crisis event).

Why not compare your current policy and see if you can reduce your total costs of risk, improve your coverage, and reduce your current premium. To receive your free, no-obligation, proposal from the AILA LPLI program, download the application, e-mail getquoted@aila.org or call toll-free 1-877-600-AILA (1-877-600-2452).

AILA Lawyers Professional Liability Insurance

To receive a quote and proposal from the AILA LPLI program, download the application, e-mail getquoted@aila.org or call toll-free 1-877-600-AILA (1-877-600-2452).