Lawyers Professional Liability Insurance

Marsh's law firm insurance program has provided over 300 clients across Canada for many years with the services of assessing their specific needs to ensure they get the best possible coverage at a competitive price. with appropriate additional safeguards.

Marsh is on a mission to ensure your business is as secure as possible so you can focus on what matters most – providing great service to your customers!

Marsh's law firm insurance programme  provides competitive and comprehensive coverage for Lawyers. It can also be customised to provide extra coverage as needed for defence against cyber threats.

Coverage Overview

Professional Liability 

• Limits up to $59,000,000 per claim/aggregate.
• Comprehensive coverage through broad wording and definition of professional services.
• Ontario Firms: Options to drop-down to the underlying Cyber Crime and Vicarious Liability sublimits.
• Disciplinary defence cost coverage (sub-limited to $100,000 per claim).
• General retention $10,000 per claim when not covered by an underlying insurance policy.

Outside Directorship Liability

For individuals serving as a director or officer of an outside entity when the insured firm has provided specific written request, direction or permission to serve in such capacity.

• Limits up to $9,000,000 per claim/aggregate available (not to exceed the professional liability limit elected).
• Automatic blanket coverage for all not-for-profit entities and private for-profit entities when declared on the application (excluding financial institutions and US-domiciled entities).
• Financial Institutions, US-domiciled and publicly traded entities require underwriting review.

Comprehensive Crime

• Limits up to $29,000,000 per claim/aggregate available (not to exceed the professional liability limit elected).
• Blanket policy limit for most crime extensions.

Optional Cyber Insurance

Digital assets are transforming business models and creating new opportunities for growth, but they also create new risks that are unlike anything law firms have faced before. This optional coverage, under the Law Firm Insurance Program, provides up to $2,000,000 of coverage for:

• Cyber incident response costs including IT forensics, legal, breach notification and crisis communications.
• Cybercrime including social engineering, theft of personal funds, cyber extortion, ransomware attacks and unauthorized use of computer resources through cryptojacking or botnetting.
• System damage and business interruption including full data re-creation, income loss and extra expense, additional extra expense, consequential reputational harm, and hardware repair and replacement.
• Network security and privacy liability including management liability arising from a cyber events and regulatory fines and penalties.
• Media liability including defamation and intellectual property rights infringement.

Cyber coverage can even help address other non-targeted threats including: 

• Employee errors such as losing a laptop or forgetting to encrypt an email. 
• Catastrophes like a computer virus infecting computers and taking months to eliminate. 
• Disruptions to networks and ultimately revenue streams. 

Cybercrime is the fastest growing crime in the world, but standard property or crime insurance policies can be restrictive in the cover they offer. Marsh strongly recommends cyber coverage for its law firm insurance program clients. Please ask your Marsh licensed insurance broker for details.