A claim against your firm for an alleged error or omission, particularly when it involves a large or complex transaction, can see your liability for damages and defence costs accumulate significantly, with devastating effects for your business.
For law firms and sole practitioners alike, it is critical that the limit of cover offered under your Professional Indemnity insurance policy is adequate for your business.
We strongly recommend you review your limit to determine whether an increase in cover, beyond the compulsory limit of $2 million, is necessary. In doing so, it is important to consider the size of your firm, areas of law, practical limitations with respect to statutory capping regimes, standards that apply in other jurisdictions and the minimum limits of indemnity required in various contracts for service as set by private and government tenders.
Marsh has a team of dedicated specialist insurance brokers who can arrange top-up insurance for firms and practitioners who have their primary cover with the Legal Practitioners Liability Committee (LPLC).
What are the benefits of insurance?
- Marsh can arrange top-up insurance in excess of the LPLC compulsory primary professional indemnity insurance policy.
- Marsh negotiates with a panel of insurers on your behalf to ensure you obtain a competitive premium.
- Coverage is based on an exclusive LPLC approved policy wording.
- Top-up indemnity coverage is provided upon the LPLC’s undertaking to indemnify an insured (subject to the top-up insurance policy terms and conditions).
If you are interested in obtaining a quotation for top-up cover, please familiarise yourself with the Marsh Important Notices and complete and return the proposal form or contact us on 03 9603 2875.