LEGAL MALPRACTICE INSURANCE DEFENSE LAWYERS

Legal Malpractice Insurance Defense Lawyers

Legal Malpractice Insurance Defense Lawyers: aggressive comparison shopping to find you the best coverage and price. Apply online.

‘A+’ insurers. Free quotes. 1-page application: download below or apply on-line. Group, legal malpractice insurance brokers and 

Legal Malpractice Insurance Defense Lawyers: we’re Lawyers Insurance Group, legal malpractice insurance brokers and subject matter experts.

Our mission is to obtain the best terms that are available in the market for every law firm.

We accomplish this by scouring the market on firms’ behalf, leveraging our access to dozens of “A”-rated legal malpractice insurers.

We also provide attentive service, expert advice, strong coverage advocacy if you incur a claim, and a monthly premium payment option.

Fill out our on-line application to receive no-cost, no-obligation quotes.

We’ll send your firm’s application to all viable insurers, based on its risk profile, contact you when we receive their quotes, and answer all of your questions.

It’s a low-key process, without any sales calls or pressure.

I. Legal Malpractice Insurance Defense Lawyers – How We Help Your Firm

We’re legal malpractice insurance brokers and subject matter experts, whose mission is to obtain the best terms that are available in the market for every law firm.

We accomplish this by scouring the market on firms’ behalf, leveraging our access to AIG, CNA, Travelers, and other “A”-rated legal malpractice insurers.

Here are two examples:
I. In August, 2017, a 2-attorney firm that was paying an annual premium of $3,487 for policy limits of $250,000 per claim/$500,000 for all claims, and a deductible of $2,500 per claim, asked us to obtain competing quotes, after its malpractice insurer offered a renewal quote of $4,064.

We sent its application to 12 “A”-rated insurers; eight offered proposals. The winning insurer proposed $2,920 for the same coverage as the current policy. However, the firm instead chose the insurer’s proposal of $3,561 for the same deductible, and policy limits of $1,000,000/$1,000,000. It thus quadrupled its per claim limit for $74 more than its current premium, due to our aggressive shopping.

II. In September, 2015, a 20-attorney firm asked us to obtain competing quotes, after it received a renewal quote of $69,832 from its malpractice insurer of many years.

We sent its application to 13 “A”-rated insurers, seven of which offered a proposal. The winning insurer’s proposal was $46,084, for the same coverage, limits, and deductible as the renewal quote.

We renewed the account with the same insurer for a premium of $47,410 in 2016, and $48,814 in 2017.

Thus, the firm’s premium decreased by over 30% compared to its 2015 renewal quote, three years in a row, for identical coverage, because we aggressively shopped its application.

We’ve obtained similar results for many other firms. Can we do so for your firm? The only way to find out is if we obtain proposals for you.

The larger point is that most attorneys don’t comparison shop, and thus often buy inadequate, overpriced coverage.

Why? Because they don’t realize that legal malpractice insurance pricing is imprecise and highly variable, or that the market is intensely competitive.

The premiums that a legal malpractice insurer charges are essentially guesses, because it doesn’t know how much it will spend to defend and settle claims, which are its biggest expense.

Further, pricing varies widely among insurers, i.e., the highest competing proposal that the firm in the second example above received was $68,276, 48% more than the lowest proposal, for identical coverage.

That shows how important it is to comparison shop.

In fact, a firm that doesn’t comparison shop at least every third year usually receives inferior terms, because its insurer has no competition for its account.

If your firm does comparison shop, it will find more than 15 ‘A’- rated legal malpractice insurers ready to compete for its business, 7-10 of which will likely offer it proposals, if it’s well-managed and has a good claims history.

II. Legal Malpractice Insurance Defense Lawyers – Optimize Your Coverage 

A. “Shop ‘til you drop”: work with a broker who’ll submit your application to every “A”-rated malpractice insurer that’ll likely offer your firm coverage, based on its risk profile. Maximizing competition is the key to getting the best terms.

B. Avoid quotes, which overemphasize price, and instead request proposals from each insurer, at various limits, deductibles, and coverage options. Then compare them to your renewal terms.

III. Legal Malpractice Insurance Defense Lawyers – Learn More or Request  Proposals 

It will give the insurers enough information about your practice to provide you with “ballpark” terms, without your having to complete a full application.

We’ll send your form to all suitable insurers, and contact you as they respond. If you like any of the estimates that we obtain, then you can complete a full application and provide any other information that the insurer needs to offer you a firm, final proposal. The premium of the final proposal usually matches or is very close to the estimate.

NOTES:

        •   If you filled out a full renewal application for your current insurer (not a one
or two page form that asks if your practice has changed in the last year), then send us that, instead of filling out the premium estimate form.

       •   The premium estimate form contains a grid that requires you to allocate your   firm’s last 12 months’ billings among its practice areas.

Securities law, Tax law, and other practice areas that the insurers consider higher risk, require completion of a supplement.

Attached to the premium estimate form is a page that contains the supplemental questions for Plaintiff’s Litigation, Real Estate law, Collections, and Mergers & Acquisitions.

Download the supplement for other practice areas from our applications page, or send us the most recent supplement(s) that your firm completed for its current malpractice insurer.

        •  All proposals that we obtain for you are no-cost, no-obligation.

If you accept any of them, then the insurer that offered it will pay us a percentage of the premium as a commission.

That’s our only compensation; we don’t charge any fees.

We thus have every incentive to find you the best terms available in the market.

IV. Legal Malpractice Insurance Defense Lawyers – Attorney Feedback

“I recently worked with Curtis…I thought he did an excellent job staying in touch with me and giving me fair advice, without pressure to purchase anything in particular…he actually advised me to simply renew with my current carrier, despite the fact that it would not have led to any monetary compensation for him…” (Rating: 5 stars out of 5.)

Full review: http://www.yelp.com/biz/lawyers-insurance-group

We received this email from the owner of a law firm for whom we procured malpractice coverage after its existing coverage was non-renewed:
“From beginning to end, you have served us so well, keeping me informed every step of the way.  Thank you Curtis!  I will recommend you without hesitation to any lawyer in need of a professional insurance broker.”

V. Legal Malpractice Insurance Explained

VI. Reduce Your Risk of Committing Legal Malpractice

Calendaring/Docketing Best Practices

Conflict of Interest Avoidance Best Practices

Engagement Letter/Retainer Agreement Best Practices

Billing Practices to Increase Realization Rates and Avoid Fee Suits

Print Friendly, PDF & Email