IP Attorneys

IP Attorney Professional Liability Insurance

After the great Fire of London in the Seventeenth Century, societies were formed against the loss or damage of property by fire. By the Nineteenth Century, these societies began to emerge as formal insurance companies. As London had no public fire brigades, these insurers formed their own private fire brigades to protect their insured's property. In order for a fire brigade to identify a property that they insured, Fire Marks (large iron emblems) were affixed to buildings. Fire Marks were an early form of trademarks. The FireMark Intellectual Property Lawyers Professional Liability Program today identifies your firm as having the quality coverage necessary to protect the practice that you've built.

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Intellectual Property Attorneys - Errors & Omissions

The Firemark Intellectual Property Attorneys Professional Liability Program

In recent year, claims against Intellectual Property Attorneys have increased in both frequency and severity. This has limited the availability of Professional Liability Insurance for Intellectual Property Attorneys.

However, you do have a choice!

The Firemark Intellectual Property Lawyers Professional Liability Program was designed specifically to provide law firms involved in Intellectual Property intelligent choices for their firm's professional liability insurance.

The choice to select superior professional liability insurance from an "A+" rated carrier.

The choice to obtain quality coverage designed for Intellectual Property Lawyers.

The choice to work with experienced professionals.

 

Program Overview

The Firemark Program provides the broadest coverage enhancements available for Intellectual Property Attorneys:

- Coverage for "Outside Interests" in client business
- Subpoena Response Expenses
- Expense Reimbursement
- Discriminatory Complaint Regulatory Coverage
- Reputation Protection Coverage
- Coverage for "Predecessor Firms"
- True Worldwide coverage
- Free 60-day Extended Reporting Period

Limits Available up to $5,000,000

Deductible Reduction Features minimizes your out-of-pocket exposure:

- Deductible reduction for use of ADR
- Reduction of up to 25% for early settlement
- Reduced deductible of up to 50% for ADR clause in engagement letter
- Reduction of up to 25% for fast acceptance of insurer's settlement recommendation.

* Maximum reduction of $25,000 for all claim mitigation options

 

The Company

The FireMark Intellectual Property Lawyers Professional Liability Program is underwritten by Protective Insurance Company. Protective Insurance Company is rated "A+" Superior by AM Best and is on the Weiss Recommended List, representing the top 1.8% of the industry.

 

Coverage

Substantial coverage for all partners, principals, employees, directors, officers, and shareholders of your firm, including:

- Coverage for Patent Agents
- Automatic coverage for independent contractors
- Automatic coverage for attorneys that join your firm during the policy the policy term, including "Of Counsel" attorneys
- Coverage for your estate, heirs, executors and administrators
- Coverage for clients with whom you have an ownership/controlling interest of up to 30%
- Coverage for predecessor firms
- Automatic unconditional 60-day reporting period
- True Worldwide coverage for work done and claims made anywhere in the world
- Innocent Insured coverage for criminal, fraudulent, & malicious acts
- Full Prior Acts coverage provided for qualifying firms

 

* coverage highlights provided only for general overview of policy. Please refer to the policy itself for actual conditions & provisions.