Risk Management Solutions for Law Firms & Lawyers

Judgment Preservation Insurance (JPI) is a valuable but underutilized tool for managing litigation risk. It enables plaintiffs or defendants, particularly those with fewer financial resources, to secure a portion of their trial judgment during an appeals process, providing financial stability and potentially improving their negotiation leverage.

Litigation coverage has evolved to provide monetary certainty when litigation outcomes are uncertain, and the litigant or lawyer wants a guaranteed settlement amount. The Insured may be the plaintiff, defendant or plaintiff’s law firm or lawyer.

Lawyers should become familiar with the benefits of litigation insurance.

All general liability policies, property policies, and other specialized policies have pollution exclusions. PLL fills the gap in coverage and has become an essential part of insurance coverage for most commercial real estate owners. Lawyers are commonly assisting along with a knowledgeable environmental broker to negotiate coverage to best protect the client for the most economical premium. In addition, transaction policies have been written for a 10-year term for over three decades defending and indemnifying the Seller, Buyer and Lender for claims involving Environmental Cleanup Costs and Liabilities. Law firms and lawyers in most areas of practice should have some familiarity with why PLL has become an important negotiated coverage for their clients and partner with us to properly place the coverage. Lawyers should download and review the below PLL summary, share with your clients, and we would welcome any call to further discuss with you and your client.

In corporate transactions, law firms and lawyers now routinely use RWI with the buyer as insured to protect it from false or erroneous statements made by the Seller in the Purchase Agreement.

Law firms and lawyers use RWI to reduce or eliminate indemnity and escrow obligations. Below is a link to podcast is available for lawyers.

Law firms and lawyers should alert their clients that tax insurance is being used to reduce or eliminate financial loss to clients arising from a tax authority’s challenge of a tax treatment during a transaction.

Like RWI above, tax insurance helps lawyers in a corporate merger or acquisition eliminating indemnities and price reductions based on uncertainties. Examples of Insured risk and benefits are contained on the below informational brochure.