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Home > Blog > New Intellectual Property Lawyers Malpractice Insurance Program
TUESDAY, MAY 24, 2022

New Intellectual Property Lawyers Malpractice Insurance Program

L Squared Insurance Logo

L Squared Insurance has an exciting new program for those law firms that derive 65% or more of their revenue from Patent, Trademark and/or Copyright. Designed specifically for IP Law Firms, it offers:

·         100% Deductible Waiver Resolution Incentive- Deductible waived if demand settled by mediation or within 364 days of the demand

·         $30,000 Disciplinary Proceedings Costs Reimbursement with “No Action” outcome

·         $50,000 United States Patent Office Disciplinary Costs Reimbursement with “No Action” outcome

·         $30,000 Security Breach Regulatory Investigation Expense

·         10% up to $100,000 maximum one-time additional Claim Expense Gap Allowance

·         $25,000 Per Crisis Event/ $50,000 Per Policy Period Public Relations Coverage

·         $500 Per Diem Day / $15,000 per Insured/ $50,000 per Policy Period Loss of Earnings

·         Loss Control/Risk Management Services by Freeman Mathis & Gary, LLP

o   Risk Management document repository

o   Drafts and templates for business

o   Articles and white papers on trending IP Topics

o   IP and LPL Firm Specific webinars, blogs, and social media        

·         $50,000 Pre-Claim Expenses per Policy Period maximum

o   2 hours of free IP Risk Management Hotline per Policy Period

·         $50,000 Pre-Claim Subpoena Expenses per Policy Period

o   2 hours of free IP Risk Management Hotline per Policy Period

·         $15,000 per Privacy Event/ $30,000 Aggregate for all Privacy Events

·         $25,000 per Policy Period/ $50,000 Aggregate per Policy Period Non-Profit Director & Officers Claim Reimbursement

 

The program is underwritten by an AM Best A+ (non-admitted) insurer. The insurer is looking to grow this program wanting firms with favorable 5 year loss history but will also consider firms with past claims depending on the loss frequency and severity.

If interested, please down load the following indication form or send us a new business application from your existing insurer.

IP Lawyers Indication Form.pdf

 

Posted 6:20 PM

Tags: new lpl ip program
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