SKYWARD SPECIALTY EXPANDS E&O BY ADDING EMPLOYED LAWYERs COVERAGE TO ITS PROFESSIONAL LIABILITY DIVISION
June 16, 2022 – (Houston, TX) - Skyward Specialty Insurance Group, Inc.™ ("Skyward Specialty" or the "Company"), a leader in the specialty property and casualty (P&C) market, expanded its miscellaneous professional liability coverage to include errors and omissions (E&O) exposure for employed lawyers, which protects in-house attorneys from allegations of malpractice while executing their legal duties. In-house general counsel, legal assistants, notaries public and temporary or independent contractor attorneys are eligible for coverage.
Traditional Directors and Officers (D&O) policies do not cover claims against non-officer attorneys and legal support staff. As a result, in-house attorneys can find themselves in situations where they're vulnerable to legal action. Employed Lawyers coverage becomes key in limiting these rising exposures.
While claims against in-house general counsel and legal staff are uncommon, legal malpractice claims against corporate counsel happen. Having the added layer of protection with Employed Lawyers in place can be the differentiator for Skyward Specialty's producers and their customers.
"Navigating malpractice claims, especially for in-house counsel, can be a complicated challenge. Relying solely on D&O coverage is not always enough against the real legal risks attorneys potentially face," said Jim Mormile, Senior Vice President, Professional Lines. "Carrying additional Employed Lawyers coverage is imperative to ensure proper risk management against in dynamic environment."
Complementing the array of innovative products and services in Skyward Specialty's Professional Liability division, the coverage is both a standalone product or an additional coverage option to minimize the gaps from traditional D&O policies.
About Skyward Specialty
Skyward Specialty is a growing specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. For its most recent fiscal year, the Company had nearly one billion dollars in gross written premiums. The Company has eight underwriting divisions -- Accident & Health, Captives, Global Property, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.
Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit www.skywardinsurance.com
Skyward Specialty Insurance Group