| Highlights |
ProDirectEssentials® |
ProDirectSelect® |
| Limits |
Four
limit options available:
- $100,000/$300,000
- $300,000/$600,000
- $500,000/$1,000,000
- $1M/$1M
|
Many
limit options available, from $100,000/$300,000 up to $5M. |
| Deductibles |
No
deductible applicable. |
Multiple
deductible options available including:
- zero
- $1,000
- $2,500
- $5,000
- $10,000
- $15,000
- $20,000
- $25,000
|
| "First
Dollar Defense" |
Not
Available |
Included |
| Claims
Expenses |
Coverage
includes Claims Expenses Inside of the Limit ("CEIL"). |
- Coverage
includes CEIL, but Claims Expenses Outside the Limit ("CEOL") can be
added at most limits.
- Claim Expense limit is equal
to the “per
occurrence” limit on the policy, or $1,000,000, whichever is
lower.
|
| Prior
Acts Coverage |
Prior
acts coverage available on a firm basis only. The policy retroactive
date applies to the firm. Firm member retroactive date is the date of
hire. |
"Career"
coverage available. The Schedule of Named Insureds includes a separate
retroactive date for each firm member, in addition to the firm's
retroactive date. |
| Work
Covered |
Only acts
performed on behalf of the insured firm
are covered. |
“Career
Coverage” -- All acts
for all active/scheduled attorneys are covered, whether performed for
the firm or not. |
| Predecessor
Firm Coverage |
Not
Available |
Coverage
available for Predecessor Firms if they are named on the application. |
| Of
Counsel Coverage |
"Of
Counsel" attorneys covered for work done on behalf of the firm if they
are scheduled on the policy. |
"Of
Counsel" attorneys covered for work done on behalf of the firm if they
are scheduled on the policy. |
| Consent
To Settle |
Not
Available |
Consent
to Settle provision in the policy, but includes
“hammer” clause. |
| Outside
Interests |
Claims by
and against any entity not named on the
policy in which an attorney has any ownership or management interest
are excluded |
Claims by
and against any entity not named on the
policy in which an attorney has a 10% or more ownership interest or
directly manages are excluded |
| Coverage
Enhancements |
Not
Available |
Coverage
included in most states for employment practices liability (EPLI)
($5000 / $10,000) and disciplinary defense ($10,000 /
$25,000). |
| Securities |
Coverage is excluded and not available |
Coverage is limited to transactions involving
fewer than 15 investors; the limitation can be removed by endorsement |
| Title Agents |
- Coverage for title agent work is excluded
- Coverage is not available for separate title agencies
|
Coverage for title agents and title agencies must
be added by endorsement, and coverage is limited to $250,000 / $250,000 |
| Available Endorsements |
None |
- CEOL
- Securities
- Title Agent / Agency
- Aggregate Deductible (rarely used)
- Amendment of Insured Definition (“grandfather”)
|
| Extended
Reporting Endorsements ("Tail") |
Available
for individual Insureds and Named Insureds. Free 36-month ERP offered
for death or permanent disability. |
Available
for individual Insureds and Named Insureds. Free unlimited ERP
available for death or permanent disability, and upon retirement when
reaching qualifying age and continuous coverage requirements. |
- All Rights Reserved