Stand-Alone Prior Acts Coverage for Lawyers
Founders Professional is pleased to offer you and your clients access to stand-alone prior acts coverage policies for lawyers.
This program is nationwide and designed to deliver Stand-Alone Prior Acts Coverage for all lawyers, groups of lawyers and dissolving law firms.
Program Features
- Stand-Alone Policy Wording
- Unique Policy Wording Tailored for the Estates of Deceased Lawyers Written on a First-Dollar Basis
- Contingent Coverage Offered for Individuals or Groups Leaving a Firm
- Direct Coverage Offered for Estates or Dissolving Firms
- Direct Coverage on a Stand-Alone Policy or as an Endorsement to Existing Coverage
- One, Two, Three or Six-Year Policies Offered
- Unique Policy Application; Separate Application for Estates
- Policy Limits up to $5M/$10M Available
- Claims-Made Policy Written on Defense Policy Form
- Primary or Excess Layers will be Considered
- All Practice Areas Considered
- All Jurisdictions Considered
When Should Lawyers Buy This?
- Lawyer retiring from a large law firm and wants sleep insurance
- Lawyer leaving firm and has concerns with management of the firm going forward
- Rainmaker leaving firm and has concerns with the financial stability of the firm after departure
- Lawyer’s new firm does not provide career coverage under their current LPL policy
- Lawyer’s new firm is requiring an individual ERP (tail)
- Firm dissolves and it is decided by a majority of the lawyers not to purchase an ERP but several lawyers desire the coverage
- Length of ERP term desired not offered by current carrier (may only offer a 12 month option)
- Firm/Lawyer buys a 3 year ERP from their expiring carrier but decide the term is not long enough and want to extend it
- Firm/Lawyer desires to buy an ERP with lower limits to cut costs
- Firm/Lawyer being denied extension of their current ERP terms
- Expiring policy only allows the purchase of ERP is carrier non-renews or cancels (one way ERP provision)
- Firm/Lawyer concerned with the financial stability of their expiring insurance carrier
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