OneBeacon Professional Insurance (OBPI) has introduced a new non-admitted Lawyers' Professional Liability product for use by the law firms in certain areas of practice.
OBPI’s Lawyers’ Professional Liability (LPL) Division senior vice president Kim Noble said the non-admitted solution will provide brokers with flexibility to consider multiple options when given difficult law firm risk protection issues.
"We can tailor coverage to provide solutions to an expanded range of unique and complex situations, allowing brokers to react quickly to changes and opportunities in the marketplace," Noble added.
The product provides coverage for a broad spectrum of risks, including firms having ten or more attorneys, plaintiff, bankruptcy, collection and foreclosure, real estate, estate, probate and trust firms, and other areas of practice, all subject to underwriting criteria.
Additional features include disciplinary proceedings, costs coverage and available limits of $1m/$1m up to $5m/$5m.
OBPI is a member of Bermuda-domiciled OneBeacon Insurance Group, and provides employment practices liability insurance, management liability and tailored products for complex organizations.