Management liability and ancillary coverages for law firms
In response to the changing face of the global legal sector and the current risks that law firm management is facing, Beazley has created Beazley Practice Protect.
Beazley Practice Protect offers the following coverages:
- Management liability
- Outside position liability
- Employment practices liability
- Fiduciary liability
- Information security and privacy liability.
Additional excess limit for non-partner executives for non-indemnifiable management liability claims.
- Wage and hour defense coverage (sub-limit)
- Employment event coverage (sub limit)
- Costs of retraining (sub-limit)
- Voluntary compliance notice coverage (sub-limit)
- Privacy notification costs coverage (sub-limit).
Terms and conditions
- Broad definition of claim, investigation and inquiry
- Insured persons liability in a joint venture
- Predetermined run off period
- Broad definition of loss, including punitive damages on a most favourable venue basis and fines and penalties (non-indemnifiable management liability claims - sub-limit)
- Severability of exclusions, application and Assistance condition.
Law firm with 50 or more attorneys
Up to US$20,000,000
The descriptions contained on this website are for preliminary informational purposes only. In the US, the product may be available on an admitted basis in some but not all jurisdictions through Beazley Insurance Company, Inc. In other US jurisdictions, the product is underwritten by Beazley syndicates at Lloyd's and is available only on a surplus lines basis through licensed surplus lines brokers. The publication and delivery of the information contained herein is not intended as a solicitation for the purchase of insurance on any US risk.
Except where products are issued by Beazley Insurance Company, Inc., coverages are underwritten by Beazley syndicates at Lloyd's and will vary depending on individual country law requirements and may be unavailable in some countries. The exact coverage afforded by the products described herein is subject to and governed by the terms and conditions of each policy issued.
Some coverages are made available through Beazley USA Services, Inc., which is a service company that is a part of the Beazley Group and has authority to enter into contracts of insurance on behalf of the Lloyd's underwriting members of Lloyd's syndicates 623 and 2623 which are managed by Beazley Furlonge Limited. Beazley USA Services, Inc. is licensed and regulated by insurance regulatory authorities in the respective states of the US and transacts business in the State of California as Beazley Insurance Services (License#: 0G55497).