Industries · Legal Practices
Private reinsurance for legal practices.
Law firms carry concentrated, partner-shaped risk: the rainmaker who retires, the client that represents a fifth of collections, the disciplinary complaint, the cyber incident in a privileged file system. Malpractice coverage may touch little of it. The Latitude Plan insures those exposures through a company the partners own.
The risk profile
Underinsured and uninsured risks we see in this vertical
- Administrative & regulatory actions
- Business interruption
- Contingent business interruption
- Crime & employee dishonesty
- Cyber risk
- Directors & officers liability
- Employment practices liability
- Errors & omissions (deductible & difference in conditions)
- Loss of a key business relationship
- Loss of key talent
- Regulatory changes
- Reputational risk
Policies are priced by the carrier against an independent licensed actuary’s formal assessment of your underinsured and uninsured risks. Treat this list as a starting point.
The brief
A working example: a Chicago firm grossing $30M annually expenses $3M per year in premium (the familiar 10% of topline) across twelve actuarially validated risk lines with per-occurrence limits of $7.5M.
Within a few years of disciplined operation and investment, reserves inside the reinsurance company could reach eight figures after claims and compounded investments.
Book a Call
One hour to find out what legal practices premiums could be building for you.
A one-hour presentation of The Latitude Plan, then your questions. Your CPA or attorney is welcome on the line.