Call Us Today For A Free Quote | 866.940.1101
Professionals Insuring Professionals
 

Lawyers Professional Liability policies do not have standard wording, but excluding the firm’s attorney’s fees is a common exclusion.  Normally attorney’s fees are not considered damages or malpractice and are not covered.

When examining the Lawyers Professional Liability Policy, this exclusion is not normally found in the exclusion section of the policy.   Frequently you will find this in the definition of “damages” or what is a “claim expense”.  The Medmarc Lawyers Professional Liability Policy is typical of how the “exclusion” is crafted in the definitions section of the policy:

“Damages means monetary judgments, awards, or settlements, but does not include (a) the return or restitution of legal fees, costs, and expenses charged by the Insured; (b) any client funds allegedly misappropriated, whether by an Insured or any other person, and whether intentionally or not, or interest thereon; or (c) fines, sanctions, penalties, punitive damages, exemplary damages, or any award resulting from the multiplication of compensatory damages, imposed against any Insured, any client of an Insured, or any other person or entity.”

 

 

If you are being sued only for the return of attorney’s fees, you should still notify the carrier.  It is important to put them on notice a later time the allegations might expand beyond just attorney’s fees.  The reason for this is you could have your Lawyers Professional Liability Carrier state that you had “prior knowledge” of circumstances leading up to a claim and using this for a basis for denying a mal practice claim at a later date.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Quick Contact
Referrals
We love referrals! And thank you even more for your continued business.
Customer Service
Self policy service any time of the day, directly from our website.
Join Our Newsletter
Stay in touch with the latest events, news and offers we have.
From Our Blog From Our Customers
Read More Read More
Stay In Touch With Us Helpful Site Links Read the News
Sign up now to receive new and updates Stay up-to-date with the latest industry, community and agency news through our newscenter. We also provide handy hints on how to save on your insurance.

Read More
We have the expertise to find you the right coverage at the right price 
Powered by Insurance Website Builder