What is the difference and uses of a Lawyers Professional Lability Policy versus an Employed Lawyer Policy?
Lawyers Professional Liability Insurance (LPP)
An LPP policy is designed to cover private practice attorneys where there is an attorney/client relationship. In general, an LPP policy excludes coverage for an attorney that is employed by an entity other than a law firm. If you are an in-house attorney that gets a W-2, the company you work for will not be covered by an LPP policy and you will not be covered for that work.
Employed Lawyer Insurance Policy
An Employed Lawyer policy provides coverage for in-house attorneys that are not in private practice and are sued by a 3rd party for malpractice while working for a non-law firm entity. In some cases, the employed lawyer policy can also be endorsed for the attorney to include some private practice ‘moonlighting.’
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080