Chubb launches professional liability cover for in-house lawyers

WARREN, N.J.—Chubb Corp. is offering in-house attorneys and the companies employing them legal malpractice coverage addressing in-house counsels’ activities in such areas as reviewing shareholder communications and providing legal opinions to companies’ directors.

The employed lawyers professional liability policy provides coverage of judgments, settlements and defense costs, as well as civil penalties imposed against in-house counsel under the Foreign Corrupt Practices Act.

In a statement, Warren, N.J.-based Chubb said the policy closes coverage gaps that might be left by a company’s general liability, umbrella and directors and officers liability insurance. The policy does not exclude claims brought against in-house counsel by an employee or executive of the company.