White Paper

3 Reasons Why a Custom-Crafted LPL (Lawyers Professional Liability) Policy Might be Right for Your Law Firm

The American Bar Association says that four out of five lawyers will get sued for malpractice at some point in their career.

Adequate protection against lawsuits is critical to ensure the financial security, success and longevity of the firm. Once a firm or an attorney is sued, much less time will be spent on developing new business and enhancing client relationships.

Lawyers Professional Liability (LPL) is not a simple insurance policy. Coverages can be complex and need to be understood to avoid errors in coverage. For example, a cheaper policy might seem like a bargain, until you discover that the policy does not provide “prior acts coverage”. Or, more common, the definitions of “professional services” and “claims” in the policy might be very narrowly defined and create coverage gaps.

Custom-crafted LPL policies offer firms the opportunity to find the right coverage, whatever the size, focus or geographic location of the firm. Here are three good reasons to consider switching to a custom-crafted LPL policy.

The account is actually underwritten

Not all law firms are alike. That’s why a custom-crafted policy can provide a real benefit to law firms. The LPL is actually underwritten. Instead of becoming a transactional buying process, the underwriter goes beyond an application, looking at the experience of the firm’s attorneys, specifics about the practice itself, and includes an analysis of the firm’s actual risks. This is done via phone calls, discussions and in-person meetings. This provides exactly what the law firm needs, no more and no less.

Innovation is the norm, providing better coverage

There’s room for creativity and innovation in a custom-crafted LPL. Many insurers don’t want to insure firms that specialize in certain areas of practice such as collections, plaintiff firms, real estate, securities, elder law and governmental and municipal firms.   It’s basically because they don’t have the expertise and knowledge to understand the value these specialty practices offer to the public. They see only risk. Looking at these practice areas with a different lens allows the underwriter to delve more deeply into the specific risk exposures the firm faces, determining where the pitfalls lie and examining how to create a policy that protects and mitigates the risks facing the firm.

Access to risk management and loss control

Claims analysis is another big benefit to a custom-crafted policy. By analyzing the claims history of the firm, some policies can be designed to help the firm mitigate the risk exposures they face through risk management and loss control services. These can include email alerts on timely legal developments and access to comprehensive resources and forms libraries.


Ethos Specialty’s Lawyers Professional Insurance group works with specialty LPL producers who understand the product and have the ability to market the coverage. To learn more, visit the website or speak directly to one of the professionals listed below:

Todd E. Cusano, Esq., Senior Vice President, 860-280-6011, [email protected]

Scott Vroman, Vice President, 415-265-3960, [email protected]

Katherine Norris, Underwriter, 860-888-2514, [email protected]

Peter Clough, Vice President, 331-229-2201, [email protected]

Heather Ottoson, Assistant Vice President, 860-734-3398, [email protected]


Source: 1] ”Ways to avoid legal malpractice, as claims rise industry-wide,” Around the ABA, December, 2016

[2] Lore, Michelle. “Malpractice Made Easy,” Small Firm Soapbox, August 9, 2016

Ethos Specialty Insurance Services (Ethos Specialty) is a world class US Managing General Underwriter (MGU) platform with exceptional leadership and underwriting talent. We are part of Ascot Group, a Bermudan-domiciled global specialist in insurance and reinsurance. Ethos Specialty provides underwriting talent focused on niche, specialized insurance products where human capital, product innovation and unparalleled underwriting expertise are critical.

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The R&I Editorial Team can be reached at [email protected]