Crum & Forster, a provider of property/casualty insurance products and part of the Fairfax Group, said that its distribution partner, Sangamon Associates, a division of Leeward Insurance Group, was selected as exclusive marketer of a Group Personal Umbrella insurance product offered through American Bar Insurance Plans Consultants (ABI) to employees of eligible law firms across the US.
Crum & Forster said that the its policy form, as customized for ABI, includes an enhanced policy coverage form for ABA members and employees of eligible law firms including $1m of uninsured/underinsured motorists coverage in each policy.
According to the Crum & Forster, the product is available for any size law firm provided a minimum of ten policies are sold and the firm meets a minimum participation rate by the firm’s partners.
United States Fire Insurance vice president Ron Mongillo said the company believe that a personal umbrella policy plays a vital role in the risk management portfolio of any insured. We have seen a dramatic increase in recent months in the number of law firms that require that their partners carry at least $1m of personal umbrella coverage.
"Our product delivers this coverage in a streamlined manner that includes no individual paper application or intrusive home inspections or telephone surveys," Mongillo said.