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Acceptable risks include:
- Law firms with up to 40 attorneys
- Solo practitioners
- Employed lawyers
- Part-time lawyers
- Plaintiff litigation lawyers
- Intellectual property lawyers
- Loss-free and non-standard/distressed practices
Coverage features:
- Two way tail (extended reporting period);
- Extended reported period terms of 1,3, and 5 years quoted upfront for most accounts
- Predecessor firm coverage included
For most practices, Colony can offer:
- Defense outside the limit
- Prior acts coverage
- Aggregate deductibles
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Definition of legal services also includes
· notary public · receiver · arbitrator / mediator · executor
· trustee / guardian · member of a formal accreditation board
· administrator · member of an ethics review or peer board
· conservator · member of a Bar Association
Mid-term reporting of staff changes only necessary if the net change exceeds 50%
Personal Injury Coverage includes malicious prosecution in the definition
Sub-limit for the Defense of Disciplinary Proceedings
"Who is An Insured" incudes Of-Counsels and Independent Contractors
Aggregate Deductible wording available on most accounts
Consent to Settle wording
Bi-Lateral Tail Coverage quoted at inception for up to five years on most accounts
Change in Control and Merqers & Acquisitions are streamlined
No SEC or RICO exclusions
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