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First Indemnity Insurance Group has launched its Excess Protect insurance coverage for law firms of up to 750 attorneys.
Excess Protect was created in response to shrinking capacity and higher rates in the professional liability market, Boston-based First Indemnity said.
The minimum attachment point is $100,000 with limits available up to $10 million, according to John Randolph, vice president of First Indemnity, who added the coverage “can help close coverage gaps for firms.”
Coverage can be written on an admitted or non-admitted basis, with both follow and non-follow forms available.
Wage-adjusted indemnity benefits have kept up with wage growth for all injury types in most states, the National Council on Compensation Insurance reported in a recent study.