The Hartford Financial Services Group Inc. offers a professional liability policy specifically for staff attorneys. The Hartford Employed Lawyers Choice Liability Policy is designed for small and midsize companies looking to provide comprehensive coverage for their in-house counsel.
The Hartford's policy is designed for public or privately held companies or non-profit entities with revenues up to $350 million. Deductibles begin at $5,000 with aggregate limits ranging to $5 million.
"We designed this policy to address gaps in coverage for these types of exposures, which can be substantial for staff attorneys who aren't protected with a liability policy," Will Demers said, director of financial products underwriting for The Hartford.
Key coverage features of The Hartford Employed Lawyers Choice Liability Policy include:
o Coverage for disciplinary proceedings and potential disbarment proceedings.
o Coverage for failure to comply with Sarbanes-Oxley section 307.
o Defense costs for claims brought by the employer or named entity against its attorney.
o Non-rescindable Side A coverage, which protects insured persons when they aren't indemnified by their employer or the named entity.
o Coverage for legal and notary services.
o Optional coverage for securities violations.
The Hartford's policy also offers optional coverage for attorneys doing pro bono work and moonlighting. These activities could generate legal malpractice claims, but are not covered by traditional D&O liability policies.
To learn more about The Hartford Employed Lawyers Choice Liability Policy, visit www.hfpinsurance.com. Brokers and agents should contact their local Hartford representative.
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