Lawyers Professional Liability and Insurance

Professional Liability Insurance Brokers (2008)

Professional Liability (a/k/a ‘legal malpractice or errors and omissions coverage) is a unique form of insurance. It is normally a “stand alone policy”, although some carriers are writing it as part of a general commercial liability policy. General Liability or Commercial Liability policies routinely exclude claims related to professional liability.

A broker should not be confused with an insurance carrier. (Each year, New Mexico lawyers list their broker on the Dues Form where it asks for information regarding the carrier.) Brokers work for or represent carriers. A broker can work for more than one carrier and he or she can broker multiple lines of insurance. These brokers are often called Independent Brokers. Some professional liability carriers use their employees to sell their policies.

When looking for a broker for professional liability coverage, you can contact and use more than one broker. When a broker represents more than one company, the broker may ask you to complete an application for each company or to prepare one application that will be submitted to each company. Great care should be taken when completing any application.

Currently, the following brokers have informed the LPL Committee that they are representing companies writing professional liability coverage for lawyers in New Mexico. There may be other brokers who provide coverage. This list and the sequence in which this list is drawn is NOT an endorsement by the LPL Committee or the New Mexico State Bar of any of these brokers. Nor is it an assurance that the companies they represent are currently writing insurance in New Mexico or will provide coverage to any lawyer-applicant:

[Any broker who writes professional legal malpractice insurance in New Mexico that wants to be included on this list should contact the chair of the LPLI Committee or call the State Bar of New Mexico at (505) 797-6054 or 1-800-87NMBAR].

Malpractice Insurance Information

• Brokers
• Carriers
• Insurance Statistics for NM
• Links/Resources

Rules/Orders

• 16-104 NMRA - New Rule
• Order - Disclosure of Professional Liability Insurance
• Questions and Answers on New Rule
• Notice to Client
• Order - Dues Form Certification of Professional Liability Insurance

Articles

• What Attorneys Need to Know About Professional Liability Insurance
• Finding and Keeping Professional Liability Insurance
• It's Fundamental: Sweating the Small Stuff Pays Big Dividends
• It's Not Just About the Referral
• It's Time to Get a Little of That Ole' Time Religion
• Shopping for Professional Liability Insurance
• When Disciplinary Comes Calling
• Survey of Lawyers Who Do Not Have Legal Malpractice Insurance

Annual Reports

• 2011 | 2010 | 2009
• 2008 | 2006