Professional Liability and Directors and Officers Liability Coverage and Consulting Practice Area
Services
We are uniquely positioned to provide our insurance clients with a full range of services relating to their professional liability products. Our depth of experience allows us to assist clients from the earliest stages of policy development to the resolution of complex coverage issues arising from a serious claim. Our expertise includes policy drafting and review, insurance regulation and compliance, coverage analysis, coverage litigation, and claims handling and risk management. Our firm's size and national presence provide the comprehensive resources necessary to ensure that our clients excel in the complex and competitive professional liability arena.Our experience includes working with a variety of policies, including the following:
- Directors and Officers Liability
- Employment Practices Liability
- Fiduciary Liability
- Media/Technology Liability
- Errors and Omissions Coverage
- Lawyers
- Accountants
- Insurance Companies
- Agents and Brokers
- Architects and Engineers
- Investment Advisors
- Miscellaneous E&O
Policy Drafting and Review
Often the most important decisions impacting an insurer's professional liability program are made at the very outset, and our attorneys have the knowledge to help guide our clients through the crucial stage of policy development. We have extensive experience assisting insurers in drafting a wide variety of insurance policies, including some of the most state of art D&O policies currently on the market. Given that we also assist insurers in addressing regulatory issues that arise in conjunction with filing policies and handling claim and coverage litigation, we are particularly familiar with the broad range of issues that impact both the profitability and marketability of these professional liability products.Regulatory and Compliance
The attorneys in this practice group have an in-depth understanding of the regulatory process that insurers face on a daily basis. Our attorneys have long been involved in regulatory work, including assisting in the formation of new companies, obtaining licensing and/or surplus lines authority for existing companies, obtaining regulatory approval for policy forms and rates, addressing insurance department complaints and inquiries, and advising clients on applicable regulatory requirements. We closely follow regulatory developments of our clients and maintain a database of regulatory information. Our regulatory practice is international in scope, as we advise clients on regulatory issues, including licensing requirements and licensing and filing exemptions in jurisdictions outside the United States, such as Israel, Finland, Hong Kong, Brazil and the Netherlands-Antilles.Coverage Counsel and Claims Handling
An insurer's reputation in the market is largely determined by the manner it which it responds to claims, and how it resolves the complex and significant coverage issues that inevitably will arise. In this regard, we provide in-depth coverage and claim handling services. Our attorneys have a deep understanding of the unique coverage issues relating to professional liability coverages. We assist our clients with coverage investigations and determinations, and well as the drafting of coverage correspondence. We also have the expertise to effectively work with defense counsel in bringing about the successful and cost effective resolution of a claim. In furtherance of this objective, where appropriate, we actively participate in mediations and settlement conferences to protect our clients' interests.Coverage Litigation and Bad Faith
An unavoidable reality of today's professional liability market is an increase in disputes and litigation over coverage. For example, the recent and highly publicized corporate and accounting scandals have generated significant and challenging coverage disputes for D&O and Fiduciary Liability carriers. Our attorneys have a national reputation for representing insurers in high stakes coverage litigation, including matters arising from the rapidly evolving and complex nature of today's professional liability marketplace. We aggressively advocate our clients' interests through litigation, arbitration, and mediation throughout the United States. Our attorneys also proactively seek innovative and pragmatic resolutions of coverage disputes.Given that allegations of bad faith are all too commonly brought in coverage disputes, we have experienced attorneys who are able to successfully defend insurers in bad faith actions, as well as provide risk management and loss prevention guidance to help insurers avoid potential bad faith claims.
Partner Participants
Professional Liability and Directors and Officers Liability Coverage and Consulting
Request Copies of Articles or More Information on TSMP Practice Areas
Tressler, Soderstrom, Maloney & Priess, LLP would be happy to supply a copy of its publications upon request.Please contact:
Karna Pruiett
Marketing Coordinator
kpruiett@tsmp.com
233 S. Wacker 22nd Floor
Chicago, IL 60606
(312) 627-4146
