The Record is Broken!

So guess what has dropped the most in price in 2009 in lawyer’s malpractice policies? The winner for 2009 is … Excess Limit. The record for the floor premium has been smashed for excess liability insurance. Typically an Excess Limits policy is coverage beyond a primary layer of a $5 million policy. If there ever was a time, to pick up cheap excess coverage, now is the time. So how do you know if you need higher limits that require an Excess policy? Your broker can advise best, but usually firm growth or an increase in exposure in risky practices are the most common triggers for purchasing more coverage.

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