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Home > Blog > Attorney Malpractice Fees/Punitive Damages Excluded? – Florida Lawyers Mutual
TUESDAY, AUGUST 22, 2023

Attorney Malpractice Fees/Punitive Damages Excluded? – Florida Lawyers Mutual

FLMIC Attorney Malpractice Specimen Policy

Attorney Fees are almost universally excluded from the definition of damages in attorney malpractice policies.  Punitive damages may or may not be excluded from malpractice coverage, but still may not be permitted by your state.

Your insurer may pay defense costs and the award for damages in a covered malpractice claim.  Fees and sanction awards are another matter.  Fees or sanction awards often exceed the value of the underlying claim.  Awarded punitive damages could dwarf the underlying case.

The time to check for coverage is not after the punitive damage award.  So how can you determine whether a particular malpractice insurance policy covers punitive damages?  Punitive damage awards are normally awarded for egregious acts some malpractice policies provide coverage other policies exclude the coverage.  Unlike the majority of attorney malpractice policies the FLMIC policy coverage for damages is found in both the definition policy section and the exclusion policy section.

 

I.          DEFINITIONS

           

4.         "Damages" means a monetary judgment or settlement which the Insured is legally obligated to pay for any Claim to which this insurance applies.

 

7.         "Fines, Sanctions or Penalties" means punitive damages, multiple damages or other disciplinary related assessments, orders or judgments (including costs and attorneys' fees) imposed or entered by a court or disciplinary authority against an Insured.

 

V.            EXCLUSIONS

 

A.            THE POLICY DOES NOT AFFORD ANY COVERAGE OR BENEFITS WITH RESPECT TO:

 

2.            Any Claim seeking Fines, Sanctions or Penalties.

Click here for Punitive/Compensatory Damages Allowed by State

CLICK HERE TO OBTAIN AN ATTORNEY MALPRACTICE QUOTE

This blog is an excerpt from the policy.  The complete policy along with applicable endorsements could impact the information provided above.

               

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 7:33 PM

Tags: flmic attorney malpractice policy, attorney fees punitive damages
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