IronPro, the professional and management liability unit of Ironshore, is introducing a network security and privacy breach endorsement, which can be added to its Lawyers Professional Liability (LPL) program.
This new endorsement provides reimbursement for expenses incurred as a direct result of privacy or network security wrongful acts with aggregate limits of up to $100,000 per incident.
"IronPro recognizes that law firms are often subject to claims arising from alleged misrepresentation or wrongful acts, thus triggering the need for comprehensive E&O protection," stated Suzanne Fredericks, Senior Vice President of IronPro Errors & Omissions. "This new optional endorsement to the LPL program is designed to protect law firms from increasing vulnerability inherent with network and cyber risks."
IronPro’s LPL product provides its clients with a robust risk management resource, enabling them to prevent altogether and/or mitigate costly malpractices claims. Salient features and benefits of IronPro’s comprehensive LPL product include: (i) a claims-made policy form; (ii) coverage for law firms, attorneys and firm employees for alleged wrongful acts, errors, or omissions in the course of delivering professional legal services to clients; (iii) risk attachment on a primary or excess basis; (iv) available capacity of up to $15 million; (v) automatic coverage for independent contractors and "of counsel" attorneys; and (vi) extension protection for a spouse, domestic partner, estate, and other legal representatives.
As an additional resource, IronPro provides its clients with access to a dedicated independent website (ironpro.lawyeringlaw.com), which contains risk management, legal mitigation information and relevant content specific to law firm malpractice exposures. IronPro clients are eligible to receive up to three free hours of continuing legal education courses per year.