CHICAGO--(BUSINESS WIRE)--HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI), today announced that they have formed a strategic partnership with First Indemnity Insurance Agency, Inc. to provide Lawyers’ Professional Liability (LPL) insurance, an errors and omissions policy intended for small to midsized law firms.
Designed for law firms with 50 or fewer attorneys, the LPL policy addresses the unique professional liability exposures faced by law firms and provides up to $5M /10M in liability coverage that could arise from “wrongful acts” committed in the rendering of legal services. This includes acts, errors or omissions that cause financial harm to another person or entity, such as misrepresentation, breach of fiduciary duty, violation of good faith, failure to know the law and fair dealing, and inaccurate advice. Coverage highlights include:
- Protection to legal professionals against losses resulting from negligence, errors and omissions in the performance of professional services.
Key policy highlights:
- Network Privacy Protection
- Innocent Insured/Vicarious Liability
- Disciplinary Proceedings $50,000 Each
- Defendants Reimbursement $50,000
- Predecessor Firm Coverage/Prior Law Firm Coverage
- Non-Practicing Extended Reporting Endorsement
“Together with the specialized expertise of First Indemnity Insurance Agency, Inc., we can quickly develop the necessary solutions to meet the evolving needs of our clients and protect them against the growing number of risks that they face,” said Robert Remy, Vice President of Delegated Authority Business, HDI Global Insurance Company.
“We are excited about our new partnership with HDI. The added capacity with the high-quality financial ratings of HDI will give law firms the security they need. The teams at First Indemnity and HDI clearly understand the specialized needs of law firms which make this partnership unique,” stated Andrew A Biggio, Executive Officer/Program Manager.
To find out more about the services of HDI Global Insurance Company U.S., click here: https://www.hdi.global/en-us/about-us/locations-contacts/america/united-states/contacts/
About HDI Global SE (HDI)
As a commercial and specialty lines insurer, HDI meets the needs of SMEs, industrial companies, middle market, and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company has access to its own worldwide HDI Global Network covering more than 175 countries through its own HDI foreign branch offices, subsidiaries, affiliated companies, and network partners.
In the United States, HDI operates through its three (3) wholly owned subsidiaries, HDI Global Insurance Company, a commercial property and casualty insurer headquartered in Chicago, IL and licensed in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, HDI Global Select Insurance Company, a commercial property and casualty insurer licensed in Washington D.C., and in all US states with the exception of Rhode Island, and HDI Specialty Insurance Company, an Illinois domestic surplus lines insurer who provides both primary and excess coverage to specialized industries and is also authorized to write business nationwide.
Acting as a Partner in Transformation, HDI leads more than 5,000 International Programmes and offers its multinational customers compliant coverage worldwide. HDI is the Industrial Lines Division of the Talanx Group and has been a leading insurer for several decades. Approximately 5,000 employees in this division generated insurance revenue (gross) of approx. EUR 9.1 billion in the year 2023 (according to IFRS 17).
The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.
About First Indemnity Insurance Agency, Inc.
For more than 35 years, First Indemnity has been designing professional liability products for legal professionals. First Indemnity’s program offers broad coverage, competitive pricing and a larger scope of covered parties and coverage limits.
First Indemnity Insurance Group was founded 35 years ago to serve the legal community with a specialty insurance program for professional liability. Now a leading player on the national legal insurance stage, First Indemnity has expanded their professional liability offerings into specialty products and services for small to medium-sized businesses.
Disclaimer
This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s and HDI Global SE’s control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
