It is prudent for every law office to purchase proper lawyer’s professional liability insurance coverage through a reliable provider.
As a busy professional, you don’t always have the time or the resources to research the insurance marketplace to compare all malpractice programs available today.
The HSBA has done the legwork for you so you don’t have to worry if you’ve made the right choice. After careful review of all the major insurance carriers writing in Hawaii, the Board of Governors chose to endorse Mercer Health & Benefits Administration LLC and Westport Insurance Corporation, a member of Swiss Re Corporate Solutions.
This is the only lawyer’s professional liability insurance program endorsed by the Hawaii State Bar Association.
All licensed attorneys practicing in the state of Hawaii are eligible to apply.
TYPE OF INSURANCE
Lawyer’s Professional Liability
Sole practitioners and law firms
Westport Insurance Corporation, a member of Swiss Re Corporate Solutions.
LIMITS OF LIABILITY
Per Claim: $100,000 to $5 million
Aggregate: $300,000 to $5 million
$1,000 to $100,000
OTHER COVERAGES AND BENEFITS
This disclosure is an outline of coverage and a summary of the policy. The policy should be consulted to determine terms, conditions, exclusions and limitations.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
How much does it cost?
The annual premium per attorney can vary widely depending on limits of liability, deductible, length of time in practice, claim history, areas of practice, and a number of other factors.
Click the Apply Now button to obtain an approximate indication of premium, but bear in mind that premiums can vary substantially based on individual and firm practice characteristics that can only be evaluated with a completed and signed application. In addition, coverage is subject to underwriting standards and is not guaranteed. The fact that we provide an indication does not assure that a quotation will be offered.
Do I have to carry professional liability insurance?
How much coverage do I need?
There is no single way to answer this question. Under most policies, the "each claim" limit of liability defines the company's maximum total obligation for settlements, judgments and defense costs (including attorney fees) in connection with a single claim, so you should keep in mind that costs can consume a significant part of the limit.
One common benchmark is to select an each-claim limit that would cover all or most of the firm's liability for a claim (plus the cost of defense) arising from a "typical" engagement, assuming the firm was found to be 100% responsible.
How do I compare insurance companies?
Following are some key points of comparison:
The state Bar approved program is underwritten through Westport Insurance Corporation, a member of Swiss Re Corporate Solutions. Swiss Re Corporate Solutions has earned strong financial ratings, including “AA–” by Standard & Poor’s, “A1” by Moody’s and “A+” by A.M. Best. Wesport/Swiss Re's commitment to lawyers and their law firms is unparalleled.
Policy Features include:
What deductible should I choose?
That depends on how large a check you can write without seriously disrupting your finances, and how much you can save by choosing a larger deductible. Most insurance companies offer varied deductible options. Companies may set either a minimum or maximum deductible, depending on underwriting criteria. Increasing your deductible may lower your premium, but you should be realistic in weighing the value of minor premium savings compared to the additional risk you are assuming, since you will have to pay your deductible before the company begins to pay for costs.
A good way to evaluate this tradeoff is to request a quote with deductible options above and below the deductible you are considering. Remember, also, to consider whether the deductible applies separately to each claim, or applies on an annual aggregate basis regardless of the number of claims in a policy year.
What exactly is meant by ‘professional liability insurance’?
Can I pay the premiums in installments?
|New Business Application (1-5 Attorneys)|
|New Business Application (6+ Attorneys)|
Supplemental forms which may be required based on your answers to the application questions.
|Outside Interest Supplement|
|Area of Practice Questions Supplement|
|Intellectual Property Supplement|