Errors and omissions coverage for banking & financial institution attorneys. The exposures below drive the frequency and severity of claims in the practice. Written on A+ rated paper, limits to $5M, deductibles from $2,500.
Each practice generates claims in characteristic ways. Coverage is evaluated against the exposures specific to the work.
Advice on lending, BSA/AML, and consumer-finance regulation carries real exposure; an erroneous opinion can subject a client to enforcement and penalties.
Errors in loan documentation, security interests, or lien perfection can subordinate or void a client's position.
Mistakes in financing transactions and required disclosures surface when a deal fails and are traced to counsel.
Hypothetical, generic illustrations — not actual claims, and not a statement of coverage.
A security interest is not perfected, and the client alleges subordination of its position.
A client alleges reliance on erroneous regulatory advice led to enforcement exposure.
A loan documentation error is alleged to have impaired the client's rights.
Scenarios on this page are generic, hypothetical illustrations of the kinds of allegations that can arise in this practice. They are provided for educational purposes only. They are not descriptions of actual claims and are not a representation that any particular claim is, or would be, covered. Whether any claim is covered depends entirely on the facts and the terms, conditions, and exclusions of the issued policy.
Coverage for banking & financial institution attorneys is written on paper rated A+ (Superior) by AM Best, with limits to $5 million and deductibles from $2,500. Defense-cost provisions vary by policy. Terms, conditions, and exclusions are governed by the issued policy.
Written on carrier paper rated A+ (Superior) by AM Best.
Available for firms of one to twenty attorneys.
Defense-cost provisions vary by the issued policy.
1-855-348-7475 for underwriting and service.
Banking & Financial Institution Attorneys practice is eligible under the program, subject to underwriting. Coverage addresses the exposures characteristic of the practice.
Lawyers professional liability insurance — legal malpractice or errors and omissions coverage — responds to claims that an error, omission, or act of negligence in professional legal work caused a client financial harm. For banking & financial institution attorneys, the exposures identified above determine the frequency and severity of claims. The policy responds to defense costs and to damages, subject to its terms.
Coverage is written claims-made and reported: it responds to claims first made during the policy period for work performed on or after the retroactive date. Prior acts and predecessor firm terms determine the treatment of prior work. Continuity of coverage should be maintained to avoid gaps.
Indemnity depends on the insurer's financial condition. This program is written on paper rated A+ (Superior) by AM Best. Coverage descriptions on this page are summaries qualified in their entirety by the issued policy, which governs.
Errors and omissions coverage for firms of up to 20 attorneys, nationwide. A+ rated paper.
