Markel Corp. is offering expanded coverage for hard-to-insure law firms that can no longer secure coverage in the admitted markets, the Glen Allen, Virginia-based insurer said Friday.
The company said in a statement the claims-made coverage includes disciplinary proceedings coverage of up to $50,000; policy limits of $5 million per claim/aggregate; coverage for breach of network and information security systems; and new optional coverage enhancements, including choice of counsel, subpoena coverage and expanded consent to settle provision.
Target risks are law firms with three to 50 attorneys. Risk management services include a risk management hotline, with claims adjusted by in-house Markel professionals.
Markel said the product is available through regionally-based underwriting teams in Richmond, Virginia; Chicago; Plano, Texas; Red Bank, New Jersey; New York; Alpharetta, Georgia; Scottsdale, Arizona, Woodland Hills, California and San Francisco.
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