Markel Corporation has enhanced its policy form and protections for hard-to-insure law firms which can no longer secure coverage in the admitted markets.
This coverage is available on an excess and surplus (E&S) lines basis using a claims-made policy form. Highlights include: disciplinary proceedings coverage up to $50,000; policy limits of $5 million per claim/aggregate; coverage for breach of network and information security system; and new optional coverage enhancements—mutual choice of counsel, subpoena coverage, and expanded consent to settle provisions.
Target risks are law firms with three to 50 attorneys. Risk management services include a risk management hotline, and claims are adjusted by an in-house, dedicated team of Markel professionals.
The product is available through regionally-based underwriting teams located in Richmond, Va; Chicago; Plano, Texas; Red Bank, N.J.; New York City; Alpharetta, Ga.; Scottsdale, Ariz.; Woodland Hills, Calif; and, San Francisco.
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The company’s principal business markets and underwrites specialty insurance products.