Call Us 866.940.1101 ☰ ˟
866.940.1101
Logo
  • Home
  • About Us
    • About Us
    • Employee Directory
    • Partners Page
    • Event Calendar
    • Refer a Friend
  • Get A Quote
  • Products
    • Lawyers Malpractice Insurance
    • Professional Liability Coverage For Attorneys
    • Accountants Professional Liability
    • Dentist Malpractice Insurance
    • Business Owners Policy
    • Cyber Liability Insurance
    • Workers Compensation Insurance
    • Title Agents E&O Insurance
    • Paralegal Malpractice Insurance
  • Testimonials
  • Common Terms
    • Common Terms
    • Frequently Asked Questions
  • Blog
  • Contact
  • Areas We Serve
    • Grand Rapids, MI
    • Detroit, MI
    • Lansing, MI
    • Kalamazoo, MI
Home > Blog > American Alternative Attorney Malpractice Insurance Policy – Disciplinary Coverage
FRIDAY, MAY 5, 2023

American Alternative Attorney Malpractice Insurance Policy – Disciplinary Coverage

American Alternative Attorney Malpractice Policy Page One

More than a few attorneys forget to take advantage of Disciplinary Coverage until it is too late.  Attorney Malpractice Insurance policies that offer this coverage can be ‘Duty to Defend’ or ‘Reimbursement’.  Even though the American Alternative policy’s malpractice coverage is ‘Duty to Defend’, the disciplinary coverage is ‘Reimbursement’.  Insurer’s wording for disciplinary coverage and reporting differs by carrier. The disciplinary reimbursement is not subject to the policy deductible.

From Declarations page:

Item 6 SUPPLEMENTARY PAYMENTS:

1. Disciplinary Proceedings Reimbursement:

   a. Limit Per Proceeding: $50,000

   b. Aggregate Limit Per Policy: $100,000

 

Policy Coverage:

E.    SUPPLEMENTARY PAYMENTS

1.     Disciplinary Proceedings Reimbursement: The Company will reimburse the Named Insured up to the amount shown in the Declarations as the Per Proceedings Limit for Disciplinary Proceeding Reimbursement, for all Insureds in the aggregate for attorney fees for any Defense Counsel, and other reasonable and necessary costs, expenses or fees paid to any third party in the investigation or defense of any Disciplinary Proceeding arising from the Wrongful Acts of any Insured while performing Professional Services, for which notice is first received by the Insured and reported to the Company during the Policy Period.  The maximum amount the Company will reimburse under this provision for all attorney fees, costs, expenses and third-party fees, regardless of the number of Insureds involved or the number of Disciplinary Proceedings reported, is amount shown in the Declarations as the Disciplinary Proceedings Reimbursement Aggregate Limit per Policy.

Claim Expenses and Damages arising from a Wrongful Act underlying a Disciplinary Proceeding,  are not reimbursable under this Disciplinary Proceedings Reimbursement Supplementary Payment and are subject to the Per Claim Limit, Deductible and Aggregate Limit of Liability applicable to that Claim.

 

Policy Definition:

K.    DISCIPLINARY PROCEEDING means any pending or open matter, including an initial inquiry, before a federal, state or local licensing board, peer review committee or other regulatory body with authority over the legal profession, relating to potential violations of professional codes, rules or regulations.

 

Not taking advantage of this policy coverage does not make sense.  Firms have a fear that reporting disciplinary complaints can impact their attorney malpractice insurance premiums. While too many disciplinary reported complaints that do not result in an issue can cause problems.  Not reporting issues that may lead to a proceeding may impact your malpractice insurance should the same issue turn into a malpractice claim at a later date.  The other issue is that once a year you may need to attest on the renewal application that there are no disciplinary issues.

CLICK HERE TO GET AN ATTORNEY MALPRACTICE QUOTE

Lee

 
 
   Contact Me Today
   Lee Norcross, MBA, CPCU
   California License # 0D87292
    L Squared Insurance Agency, LLC ® DBA in California as
   L2 L Squared Insurance Agency, License # 0L93416

    Managing Director, CEO
    Click here to contact Lee Norcross, MBA, CPCU, CPIA

     (616) 940-1101 Ext. 7080

 
Posted 2:43 PM

Tags: american alternative, disciplinary coverage
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

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
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2013
  • 2011

  • lawyers professional liability insurance(429)
  • attorney malpractice insurance(404)
  • attorney malpractice(337)
  • legal malpractice(225)
  • legal liability(134)
  • cyber insurance(107)
  • data breach(93)
  • ethics(87)
  • erp(58)
  • malpractice insurance(56)
  • claims(39)
  • title agency e&o(36)
  • accountant e&o(34)
  • extended reporting period endorsement(30)
  • tail(29)
  • disciplinary coverage(27)
  • phishing(25)
  • legal malpractice insurance(23)
  • prior acts(22)
  • claims made coverage(21)
  • extended reporting period(21)
  • cyber security(20)
  • cyber liability(18)
  • accountant errors & omissions(18)
  • claims reporting(18)
  • crime insurance(16)
  • ransomware(16)
  • claim prevention(16)
  • attorney protective cle(14)
  • the hartford weekly newsletter(14)
  • attorney protective cle webinar(14)
  • 2022 mcgowan pro cpe webinar for accountants(13)
  • professional liability insurance(13)
  • retirement tail(13)
  • attpro tip of the month(13)
  • business owners insurance(12)
  • mcgowan webinar series for cpas 2021(12)
  • legal liability insurance(11)
  • bop(11)
  • fee suits(10)
  • full prior acts(10)
  • cyber crime(10)
  • accountant errors & omissions insurance(10)
  • prior acts date(9)
  • insurance(9)
  • coverage(9)
  • step rating(9)
  • non-practicing erp(9)
  • cyber liability insurance(9)
  • title agent errors & omissions(9)

View Mobile Version
Logo
Quick Links
Home Our Products Customer Service Payment Options Common Terms
About Us Refer A Friend Our Carriers Blog Contact Us
Location
2430 Camelot Ct SE
Grand Rapids, MI 49546

Local: 616.940.1101
Toll Free: 866.940.1101
Email: info@L2ins.com
Facebook Twitter Social LinkedIn
© Copyright. All rights reserved.
Powered by Insurance Website Builder