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Everest Insurance Co., the property/casualty and specialty insurance unit of Everest Re Group Ltd., on Tuesday said it has launched a tailored professional liability policy to meet the evolving needs of medium to large law firms.
Everest Elevation will provide law firms with liability coverage for financial losses suffered by third parties arising from acts, errors and omissions in providing legal services, the statement said.
The policy is designed to cover “defense costs and settlement payments arising from malpractice allegations,” Rob Diziki, vice president of professional liability, said in the statement.
Coverage enhancements are available, including expense reimbursement for crisis events, disciplinary proceedings, security incidents and subpoena compliance, the company said in the statement.
Stated capacity is up to $10 million, a spokesman said in an email.
Everest Insurance, a unit of Bermuda-based insurer and reinsurer Everest Re Group Ltd., said Wednesday it has expanded its life sciences product to include property, commercial auto and workers compensation coverage, adding to its existing primary product liability offering.