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Professional liability platform for law firms launched

Professional liability platform for law firms launched

Embroker Inc. launched its lawyers' professional liability platform for large and small law practices, the San Francisco-based digital insurance company said in a statement Tuesday.

The platform is designed to lower the cost and time requirements associated with obtaining the coverage, Embroker said.

While legal liability typically costs about $3,000 per attorney per year, Embroker has seen savings of 5% to 40% in “comparables,” a company spokeswoman said in an email. She said rates vary by state and are based on variables such as number of lawyers, areas of practice and risk management techniques.

The coverage is currently available in 31 states and is being rolled out nationwide, the statement said.

Embroker is targeting law firms with one to 10 attorneys — the size of the majority of firms in the U.S., the statement said.

"We typically attract 'younger' progressive law firms due to the technology, but it obviously works for everyone," Brad Barkin, vice president of law and accounting practices at Embroker, said in the statement.