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PRESS RELEASE |
Insurer's new E&O product is designed to better protect lawyers and their firms
HARTFORD, Conn., May 1, 2006 - The Hartford Financial Services Group, Inc. (NYSE: HIG), one of the nation's leading providers of insurance and financial services products, announced that it is offering legal professionals new professional liability coverage designed specifically for firms with 20 or more lawyers.
Professional liability, or Errors and Omissions (E&O), is similar to malpractice insurance, protecting professionals from liability when an action - or failure to take action - results in injury or financial damage to a client. The Hartford Premier Lawyers Professional Liability policy provides insurance coverage for large law firms and individual lawyers rendering professional legal services on behalf of those firms. This insurance is underwritten by the company's Hartford Financial Products (HFP) division, a major provider of professional liability and other management liability products.
"When a law firm accustomed to representing clients and handling lawsuits finds itself on the receiving end of an E&O lawsuit, the firm wants a solid, knowledgeable insurer behind it," said Greg Leffard, a vice president at HFP. "Our experience in providing company-tailored coverage and excellent claim handling can go a long way in helping a law firm through the challenges of an E&O action."
Offered as a stand-alone policy, The Hartford Premier Lawyers Professional Liability coverage provides broad protection that can be customized to meet the specific needs of a firm. Key features include:
The Hartford has provided legal professional liability coverage for large law firms on a stand-alone basis since 2000. This new policy updates earlier policies by providing new and expanded features and by incorporating into the policy other features previously available only by endorsement.
The Hartford Premier Lawyers Professional Liability product is available in most states through independent agents and brokers. For more information about this and other insurance offered by Hartford Financial Products, brokers and agents can visit www.hfpinsurance.com or call Patricia Fitzgerald at 212-277-0457.
In addition, members of the Federation of Defense and Corporate Counsel (FDCC) also can purchase this coverage through The Hartford's exclusive arrangement with Frank Crystal & Company. FDCC members or their agents/brokers should contact Greg Gamble at 212-504-5838 or gambleg@fcrystal.com.
In Florida, this coverage is also being offered to law firms with 10 or more attorneys. It can be purchased through Hartford Financial Products' exclusive relationship with ProQuest Insurance Agency, a division of Kelter-Alliant Insurance Services. Florida law firms, or their agents/brokers, should contact Craig Howser at ProQuest Insurance Agency, 312-930-1472 or craigh@proquestinsurance.com.
The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is www.thehartford.com.