Aon Legal Malpractice Insurance is a type of professional liability insurance designed to protect law firms and individual attorneys from financial losses resulting from allegations of negligence, errors, or omissions in the performance of their legal duties. As one of the leading providers of legal malpractice insurance, Aon offers a comprehensive range of coverage options and risk management solutions to help law firms mitigate potential risks and protect their reputation.
Key Features of Aon Legal Malpractice Insurance
Aon’s legal malpractice insurance policy provides law firms with a robust defense against claims of malpractice, including defense costs, settlements, and judgments. The policy also offers a range of benefits, including retroactive coverage for prior acts, full prior acts coverage for new firms, and free tail coverage for retiring attorneys. Additionally, Aon’s policy provides coverage for disciplinary proceedings, subpoena response, and data breach response, among other benefits.
Coverage Options and Limits
Aon’s legal malpractice insurance policy offers a range of coverage options and limits to suit the needs of law firms of all sizes. The policy provides coverage for individual attorneys, law firms, and entities, with limits ranging from 100,000 to 10 million or more. The policy also offers a range of deductible options, from 1,000 to 50,000 or more, allowing law firms to tailor their coverage to their specific needs and budget.
| Coverage Option | Limit | Deductible |
|---|---|---|
| Individual Attorney | $100,000 to $1 million | $1,000 to $10,000 |
| Law Firm | $500,000 to $5 million | $5,000 to $50,000 |
| Entity | $1 million to $10 million | $10,000 to $100,000 |
Risk Management Solutions
In addition to providing comprehensive insurance coverage, Aon also offers a range of risk management solutions to help law firms mitigate potential risks and protect their reputation. These solutions include loss prevention services, claim prevention services, and practice management consulting, among others. Aon’s risk management team works closely with law firms to identify potential risks and develop strategies to mitigate them, reducing the likelihood of claims and minimizing the impact of any claims that do arise.
Loss Prevention Services
Aon’s loss prevention services are designed to help law firms identify and mitigate potential risks before they result in claims. These services include risk assessments, policy reviews, and procedure audits, among others. Aon’s loss prevention team works closely with law firms to develop customized risk management plans, providing them with the tools and resources they need to minimize their risk exposure.
- Risk assessments to identify potential risks and develop strategies to mitigate them
- Policy reviews to ensure that law firms have adequate coverage and are in compliance with regulatory requirements
- Procedure audits to identify areas for improvement and develop best practices
What is the purpose of Aon's legal malpractice insurance policy?
+Aon's legal malpractice insurance policy is designed to provide law firms with comprehensive protection against allegations of malpractice, while also offering flexible coverage options and limits to suit their specific needs and budget.
What types of coverage options are available under Aon's legal malpractice insurance policy?
+Aon's legal malpractice insurance policy offers a range of coverage options, including individual attorney, law firm, and entity coverage, with limits ranging from $100,000 to $10 million or more.
What risk management solutions does Aon offer to law firms?
+Aon offers a range of risk management solutions to law firms, including loss prevention services, claim prevention services, and practice management consulting, among others.
In conclusion, Aon’s legal malpractice insurance policy is a comprehensive and flexible solution for law firms looking to protect themselves against allegations of malpractice. With a range of coverage options and limits, as well as risk management solutions, Aon’s policy is designed to provide law firms with the protection they need to minimize their risk exposure and protect their reputation.
