Lawyers Professional Liability Insurance

Professional Liability insurance for Attorneys & Law Firms

Professional Liability Insurance for Attorneys and Law Firms

With all the changes occurring in New Jersey's professional liability market, it's more challenging than ever to secure the right coverage for your firm.

The knowledgeable and experienced team at Garden State Professional Insurance Agency can help. Just ask any of the 1,400 NJ law firms who already entrust us with their professional liability insurance. We’ll shop the marketplace for your firm among the many carriers Garden State represents: market leaders like CNA, Hanover, Travelers, AIG, QBE and many more.

Garden State Professional Insurance Agency is the exclusive agent for CNA’s Legal Malpractice Insurance Program for New Jersey law firms with 1 – 34 attorneys.

View Coverage Highlights
  • Admitted Insurer
  • Defense Costs are paid in addition to the limit of liability
  • Deductible is applicable to damages only – not defense costs
  • Settlement – The Insurer shall not settle a claim without the written consent of the Named Insured (No hammer clause)
  • Pro Bono Deductible Waiver
  • Loss of Earnings Reimbursement – up to $500 for loss of earnings for each day or part of a day of Insured’s attendance at Company’s request – at trial, ADR, mediation. Subject to maximum of $15,000 per insured/$30,000 per policy period
  • Disciplinary proceedings – Reimburse up to $20,000 for attorney’s fees and other reasonable costs, expenses or fees paid to 3rd parties resulting from any one disciplinary proceeding subject to $100,000 aggregate for all disciplinary proceedings. NOTE – In the event of determination of No Liability of the Insured, the fees can exceed the $20,000 cap up to $100,000.
  • Crisis Event Expense – Company will reimburse up to $20,000 for public relations expenses
  • Privacy Breach Notice Law – defense costs up to $20,000.
  • Privacy Injury & Identity Theft
  • Client network damage claims – covers claims alleging that a security breach or electronic infection caused network damage to a client’s network.
  • Mediation Incentive – Under certain conditions if a claim is resolved by mediation within 60 days the deductible can be reduced by 50%.
  • Assistance in responding to a subpoena arising out of legal services rendered by an Insured including production of documents and preparation of sworn testimony provided the subpoena arises out of a lawsuit to which the Insured is not a party.
  • Broad definition of Legal Services – includes Arbitrator, Mediator, Title Agent, Notary Public
  • Legal Services includes pro bono services.
  • Legal Services includes services performed by an Insured in the capacity as a member, director or officer of any professional legal association, including any Bar Association or similar organization.
  • Pre-claims Assistance – until the date a claim is made, the Company may pay for all costs or expenses it incurs
  • Definition of insured includes government affairs advisor or lobbyist
  • Definition of insured includes non-employee independent contractors
  • Military Leave of Absence Suspension of Coverage – premium adjustment during military leave and full reinstatement of coverage with no gap upon return to the practice of law.
  • Optional Extended Reporting Periods (1, 2, 3, 6 years or unlimited)
  • Non Practicing Extended Reporting Periods – no extra charge for retiring or non-practicing lawyers who have been continuously insured by C N A for at least 3 consecutive years
  • Death or Disability Extended Reporting Period – at no charge.
  • 7.5% Renewal Premium Credit available to each attorney who attends the C N A Risk Management class.
One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. CNA is a registered trade mark of CNA Financial Corporation. Copyright © 2011 CNA. All rights reserved.

Our clients include law firms of all sizes, all levels of experience, and all areas of practice.

We even offer good homes for firms with less-than-perfect claim records, or areas of practice that are difficult to insure.

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Garden State Professional Insurance Agency Professional Liability Insurance

Professional Liability and More …

In addition to professional liability insurance, you can turn to Garden State Professional Insurance Agency for other coverages:

Our Mission for Your Firm

Garden State’s long-standing mission is to deliver the best coverage and value for each law firm’s unique needs. With over 30 years of experience, we know what it takes to cover your practice, your people and property. 

Our roster of impressive law firm clients continues to grow not only based on our expertise but also due to the responsive service we’re proud to provide.

Find out which NJ Bar and NJAJ events Garden State staff members are attending.

FAQs

What is Lawyers Professional Liability Insurance?

Lawyers Professional Liability (Errors & Omissions or malpractice) is coverage designed to protect lawyers and law firms incurred as a result of errors and omissions in performing professional services. Most policies will pay the cost of legal defense against claims and payment of judgments against you, up to the limit of the policy. 

What is the difference between Lawyers Professional Liability insurance and General Liability?

General liability covers events that could happen to any type of business, such as physical injury or property damage. Professional Liability covers risks specific to professional services provided to clients. If a third party makes a claim against an attorney or firm for services you provided, then professional liability insurance will cover the legal costs involved with defending the claim.

What is claims- made coverage?

Claims-made coverage provides insurance that is triggered when a claim is made against an insured during the policy period, regardless of when the error of omission that gives rise to the claim took place. (If there is a Retroactive Date on the policy, the act giving rise to the claim had to take place after that retroactive date).

Does a Lawyers Professional Liability Policy Cover Defense Costs?

Professional Liability Policies do cover the cost of defense. Some policies have Defense “Within” the Limits also called Claims Expenses Inside the Limit or “CEIL”. This means that the cost of defense erodes the limit of liability available to pay judgements or settlements. Some policies have Defense “Outside” the Limit of Liability meaning that defense costs are provided in addition to the limit of liability or “CEOL” and do not erode the policy limits.

Other policies have 50% Offset Defense Costs. In NJ, some policies have defense costs in addition to the limit of liability up to 50% of the limit, after which defense costs erode the limit of liability. Defense costs are paid by the carrier. In NY, policies with a 50% offset, defense costs are still paid by the carrier, but the limit erodes from defense costs until it reaches 50% of the limit and thereafter it is in addition to the limit of liability.

What is a Loss Only Deductible or First Dollar Defense?

Loss Only Deductible means the deductible applies only to indemnity (judgments and settlements) and not to defense costs. Defense costs are paid by the carrier from the first dollar expended.

Why does the Lawyers Professional Liability application ask for percentages of my areas of practice?

The areas of practice portion of your application is necessary to allow the underwriter to determine if they will insure the risk that your firm presents to the carrier. It also serves as part of the factoring in determining the premium. Essentially, each area of practice is given a ‘risk factor’. The more hazardous areas of practice will have a higher risk factor. The carriers determine ‘hazardous’ areas of practice by analyzing their loss experience for each specific area of practice.

It would be our privilege to represent your firm!