According to a press release, the Hartford Employed Lawyers Choice Liability Policy is designed for small and mid-size companies looking to provide comprehensive coverage for their in-house counsel.
Key coverage features of The Hartford Employed Lawyers Choice Liability Policy include:
- Coverage for disciplinary proceedings and potential disbarment proceedings;
- Coverage for failure to comply with Sarbanes-Oxley section 307;
- Defense costs for claims brought by the employer or named entity against its attorney;
- Non-rescindable Side A coverage, which protects insured persons when they aren’t indemnified by their employer or the named entity;
- Coverage for legal and notary services; and
- Optional coverage for securities violations.
The Hartford’s policy also offers optional coverage for attorneys doing pro bono work and moonlighting – two key activities that could generate legal malpractice claims, but are not covered by traditional directors and officers (D&O) liability policies, the press release said. D&O policies typically contain professional services exclusions and do not cover in-house attorneys in their legal adviser capacity, The Hartford said.
The Hartford’s policy is designed for public or privately-held companies or non-profit entities with revenues up to $350 million. Deductibles begin at $5,000 with aggregate limits ranging to $5 million.
More information is at www.hfpinsurance.com.