Lawyers Professional Liability (LPL) accounts for the largest share of the non-medical E&O market. A wide variety of law firms – in size and area of practice – present an equally wide variety of needs and exposures. Although "area of practice" is a widely used underwriting factor, there are broader economic and political conditions that serve as indicators of LPL claim activity. Often these economic conditions spark changes in laws and regulatory initiatives, which in turn redefine lawyer responsibilities. The Sarbanes-Oxley Corporate Reform Act and IRS crackdowns on tax abuses provide vivid examples of this phenomenon from the early 2000s. During the next decade, yet unforeseen events will trigger additional waves of change. The challenge for LPL insurers is to maintain a proactive approach and to respond quickly when the next economic or political trend is spotted.
As an experienced Lawyers E&O reinsurer, Gen Re has supported many companies to develop and grow their business capabilities. Our team of underwriting, claims, marketing, product development and actuarial professionals draws from our experience to provide you with advice on how to improve your bottom line. If you would like to know more about our Lawyers E&O capabilities, please contact Peter Clauson at 203 328 5055 or
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