Bell and Clements Launches Intellectual Property Insurance for Law Firms
Bell and Clements Inc., part of Munich Re Specialty Insurance (MRSI), is launching an Intellectual Property Legal Professional Liability (IPLPL) product specifically designed for law firms of all sizes with 65% or more of their revenue derived from the practice of intellectual property (IP) law.
The product is underwritten by the B&C team of experts through The Princeton Excess and Surplus Lines Insurance Company, a Munich Reinsurance America Inc affiliate, rated A+, XV (Superior) by A.M. Best and AA- (very strong) by Standard & Poor’s.
In addition, B&C Inc. is partnering with risk management and litigation firm Freeman Mathis & Gary LLP (FMG). Through this collaboration, the IPLPL product offers insureds access to comprehensive risk management materials and resources. The partnership also provides personalized access to a pre-claim risk management hotline serviced by FMG expert legal advisors.
The specialized distribution of the IPLPL product will be managed by limited U.S. regional retail brokers and a wholesale broker who have experience in offering professional liability services to the legal sector.
“The legal market is ever evolving and launching a modular coverage IP product that addresses vital needs for the sector is important and expansive to what is currently available in standard offerings,” said Nick Ash, CEO of Bell and Clements Ltd., the parent company of B&C Inc.
The B&C Inc. Professional Liability team is based in New Jersey with over 100 years of combined experience working in the Professional Liability insurance industry.
Source: Bell and Clements Inc.