LawGold™ has introduced and incorporated the best Legal malpractice coverage and features under one policy. Here are some of the highlights:
Broad Professional Services Definition
Professional Services means legal and consulting services and activities performed by you for others provided that the remuneration for such services or advice, or a portion thereof, inures to your benefit:
- performed as a lawyer, notary public, arbitrator, mediator, title insurance agent, designated issuing lawyer to a title insurance
company, fiduciary, or speaker or author of legal treatises;
- provided by a lawyer in connection with any bar association, its governing board, or any of its committees;
- the publication or presentation of research papers or similar materials by you;
- provided in connection with pro bono representation; or
- provided by your employee in connection with assisting a lawyer to perform the activities described in the above for others
on the behalf of you
Alternative Dispute Resolution (ADR)
LawGold™ will waive 100% of the deductible (up to $25,000 each claim) if ADR is used to settle a claim.
Additional Loss Mitigation Provisions
Reductions in your deductible for use of limitation of liability and mediation clauses in engagement letters, early resolution and consent to settlement of claims.
Supplementary Payments Coverage
- $750 per insured per day for loss of earnings in relation to a covered claim up to $10,000 per claim/$25,000 per policy period.
- $50,000 per policy period for defense expenses you incur in responding to a disciplinary proceeding
- Coverage for expenses incurred in responding to subpoenas for documents or testimony.
Payments are in addition to the limits of liability and are not subject to the deductible
- First Party Cyber Liability – $25,000
- Discrimination Complaint Regulatory Coverage – $50,000
- Supplementary claims Expenses Coverage – $100,000
- Not For Profit Directorships Coverage – $10,000 per claim / $30,000 per period
- Reputation Protection Coverage- $10,000 per claim/$30,000 per period
Electronic Media Coverage
- Misdirection of electronic mail or other electronic media, including but not limited to, an intranet, extranet or internet connection;
- Loss of client information transmitted via electronic media;
- Unintentional introduction of a computer virus to a third party computer, computer system, or network causing harm or damage to a computer,
computer system or network;
- Unintentional unauthorized access by a third party to a computer, computer system or network, without authorization or exceeding authorization; or
- personal injury arising from the use of electronic media, including but not limited to, possession of an Internet web site or social media;
arising from professional services performed by you.
LawGold™ covers services performed anywhere in the world for suits brought in the United States its’ territories and possessions and Canada.
LawGold™covers lawyers or law firms identified in the application as a predecessor practice and to whose financial assets and liabilities the Named Insured is the majority successor in interest (50% or more of the former firm’s assets and liabilities).