Navigators Pro, a division of Navigators Management Company, a subsidiary of The Navigators Group, announced the introduction of “LPL Magistrate(SM) its Lawyers’ Professional Liability Policy.”
The bulletin noted that law firms have experienced “an escalation in the severity of legal malpractice claims,” and indicated that “LPL Magistrate(SM) responds to the needs of solo, general practice and small law firms with up to 75 attorneys. Policy limits of liability available are up to $5,000,000.”
Navigators Pro said the new program was created “in response to broker demand for a quality lawyers’ professional liability policy from a financially strong insurance carrier. LPL Magistrate(SM) product is underwritten by Navigators Insurance Company and NIC Insurance Company, which are both rated “A” (Excellent) by A.M. Best.”
President Chris Duca stated, “Navigators Pro is broadening its reach in the professional liability market. We are pleased to deliver to our brokers and insureds the LPL Magistrate(SM) policy that is specially designed for small law firms.”
The bulletin described the policy as offering law firms protection covering “a negligent act, error, omission in the rendering or failure to render professional services.” It added that the “policy has a broad definition of professional services, covering those rendered by the lawyer in an attorney-client relationship in their capacity as a lawyer, and also including “serving as an arbitrator or mediator, notary, title agent, administrator of an estate, executor, guardian, trustee or similar fiduciary capacity on behalf of the law firm.”
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