Aon | Professional Services Practice
Professional Liability Insurance for Mid-Sized Law Firms
Aon’s Professional Services practice provides its law firm clients with the most comprehensive and cost-effective professional liability coverage available. Our mid-sized law firm offerings provide the same quality coverage typically afforded to large law firm risks.
Overview
Law firms under 125 attorneys are defined by many insurers as the “middle market” segment. Traditionally, such mid-sized law firms have been underrepresented in terms of product and service options related to professional liability insurance. These firms have also been relegated to a limited number of quality insurers and even less in the way of quality post-placement service from their brokers. As part of our continued drive to deliver distinctive value, Aon’s Professional Services practice has a team dedicated solely to serving mid-sized law firms nationwide.
Aon is the largest broker of lawyers’ professional liability insurance in the U.S., and worldwide. The Professional Services team represents 56 of the 100 largest U.S. law firms as well as 53 of the 100 largest global law firms (Aon represents over 12,000 law firms overall). While there are many insurers offering a variety of products within the professional liability insurance market, only Aon can utilize its market leverage to exclusively negotiate a mid-sized law firm offering that provides the same quality professional liability coverage typically afforded to “large” law firms (those with over 125 attorneys).
Policy Provisions
Our proprietary professional liability insurance offerings for mid-sized law firms generally have the following features:
- Choice of counsel to defend claims
- Aggregate limit/reinstatement of limit offered at nominal additional premium (5%-10%) *
- Punitive damages coverage, with most favorable jurisdiction language for the interpretation of insurability of punitive damages
- Step-down/aggregate deductible
- Limited self representation endorsement *
- Continuity of coverage
- Optional employment practices liability, management liability and cyber security coverage *
- A choice of extended reporting period options *
- Multi-year coverage terms (three year “rolling” policy) *
* Not all features are offered by all participating insurers.
To learn more about our Professional Liability insurance solutions for mid-sized law firms, please contact Daniel Klauss.
Daniel Klauss
Managing Director
San Francisco
