Bell and Clements Inc., part of Munich Re Specialty Insurance (MRSI), launches Intellectual Property Legal Professional Liability (IPLPL) product specially designed for law firms of all sizes with 65% or more of their revenues originate from the practice of property law (IP).
The product is underwritten by the B&C team of experts through The Princeton Excess and Surplus Lines Insurance Company, a subsidiary of Munich Reinsurance America Inc, rated A +, XV (Superior) by AM Best and AA- (very strong) by Standard & Poor’s.
In addition, B&C Inc. is in partnership with the risk management and litigation firm Freeman Mathis & Gary LLP (FMG). Through this collaboration, the IPLPL product provides policyholders with access to comprehensive risk management equipment and resources. The partnership also offers personalized access to a pre-disaster risk management hotline served by expert legal advisers from FMG.
Specialty distribution of the IPLPL product will be handled by regional retail brokers limited in the United States and a wholesale broker who have experience in providing professional liability services to the legal industry.
“The legal market is constantly evolving and the launch of a modular IP coverage product that meets vital industry needs is important and extended to what is currently available in standard offerings,” said Nick Ash, CEO of Bell and Clements Ltd., the parent company. of B&C inc.
B&C Inc.’s professional liability team is based in New Jersey and has over 100 years of combined experience in the professional liability insurance industry.
Source: Bell and Clements Inc.
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