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 > Attorney Malpractice Fees/Punitive Damages Excluded? – ProAssurance
THURSDAY, AUGUST 24, 2023

Attorney Malpractice Fees/Punitive Damages Excluded? – ProAssurance

ProAssurance 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 your state may not permit.

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.  In the ProAssurance (MedMarc) policy the definition of damages excludes punitive damages:

SECTION 1. DEFINITIONS       

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 and interest thereon; (b) any funds belonging to or owed to any Insured’s client, trust account funds, or funds of any other person held by any Insured in any capacity, that are 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.

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 5:07 PM

Tags: proassurance attorney malpractice policy, attorney fees punitive damages
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)
  • retirement tail(34)
  • extended reporting period endorsement(30)
  • tail(29)
  • ownership-director-officer exclusions(28)
  • attorney fees punitive damages(28)
  • disciplinary coverage(28)
  • phishing(25)
  • legal malpractice insurance(23)
  • prior acts(22)
  • claims made coverage(21)
  • extended reporting period(21)
  • cyber security(20)
  • nonpracticing extended reporting period(19)
  • cyber liability(18)
  • accountant errors & omissions(18)
  • claims reporting(18)
  • crime insurance(16)
  • ransomware(16)
  • claim prevention(16)
  • attpro tip of the month(15)
  • attorney protective cle(14)
  • the hartford weekly newsletter(14)
  • attorney protective cle webinar(14)
  • insurance(13)
  • 2022 mcgowan pro cpe webinar for accountants(13)
  • coverage(13)
  • professional liability insurance(13)
  • business owners insurance(12)
  • mcgowan webinar series for cpas 2021(12)
  • crisis event coverage(12)
  • legal liability insurance(11)
  • professional services defined(11)
  • bop(11)
  • fee suits(10)
  • full prior acts(10)
  • cyber crime(10)
  • accountant errors & omissions insurance(10)

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