CLAIMS
What is a Claims-Made and Reported policy?
How do I report a claim?
Do I report a claim even though there has not yet been a demand for money or services?
Should I report something I don’t think is covered?
Should I report a claim that appears to be within the policy deductible?
What type of payment does the deductible apply to?
Should I advise my client about a mistake I discover?
Should I advise my client to retain new counsel?
Can I continue to represent my client after I discover I have made an error?
What is "Prior Acts" Coverage?
What is “Tail” or “Extended Reporting” Coverage?
What if the policy is cancelled? What happens to coverage?
What if the Named Insured ceases private practice or retires. Does the policy in effect prior to retirement provide coverage?
How long will it take to get my quote once I have submitted my application?
I am just starting my own law office and do not have any office systems in place yet. How should I respond to the questions on the application?
Do I have to use computer software office systems to be insured with OBLIC?
If I am a solo attorney, who can be a “backup” person for me to be responsible for my practice if I am suddenly absent from my office for a length of time?
Do you offer coverage for title insurance work?
What date can I make the policy effective?
Do I have to pay the full premium all at once?
What do I need to send in to get a policy issued?
When do I receive a copy of my policy?
How long has OBLIC been writing Lawyers Professional Liability Insurance for Ohio Lawyers?
Who do I call if I have questions about my policy?
How do I notify you of changes within the firm such as adding a new attorney to my policy, address changes or firm name changes?
Do I need to notify OBLIC if I hire a law clerk, paralegal or legal secretary?
Do I need to notify OBLIC of changes in my areas of practice?
Can I change policy limits mid-term?
Can I cancel my policy mid-term?
When I add or delete an attorney during the policy year how is it invoiced or credited?
These descriptions are limited to brief highlights and are subject to the coverage, conditions and exclusions in the policy.
- "Claims-Made and Reported" insurance is a policy under which the insurance company Is responsible for the defense and payment of those claims first made against the insured and reported to the insurer during the period when the policy is in effect.
Benefits to the insured are two-fold. The premium for a current policy does not have to be loaded to provide for future claims at their inflated values. Such future claims will be paid by the future premiums of the policies in effect in the future.
Another benefit is the opportunity to "tailor" the limits of liability to fit the claims cost situation, and to adjust limits of liability for economic and social inflation. This enables the insured to provide adequate protection in the year the claim may arise.
- In the event any Insured directly or indirectly becomes involved in any situation which any Insured believes may result in a “Claim” against any Insured, that Insured should immediately report it in writing to an OBLIC Claims representative.
All “Claims” must be reported in writing by mail, hand delivery to the Company, or by facsimile transmission the receipt of which is confirmed by the Company in writing. Telephone notice and/or e-mail is NOT sufficient to constitute notice under the Policy.
- Yes, by policy definition, this must be reported to the company in a renewal application if not before. See your policies definitions for the definition of a claim.
- Yes. It is best to let the claim professionals at OBLIC determine coverage. If you fail to report a claim in a timely manner, coverage could be jeopardized.
- Yes. The full amount of the claim might not be readily ascertainable. Late reporting could jeopardize coverage for the claim.
- The deductible on the majority of OBLIC policies applies only to indemnity payments. Some policies also have a deductible that applies to expense payments. Please refer to your policy or contact an OBLIC Claims representative.
- Yes. You should contact OBLIC immediately; if possible, prior to discussing the situation with the client. You should also consult the Supreme Court Rules of Professional Conduct.
- That will depend on the circumstances. Contact OBLIC’s Claims department.
- That will depend on the circumstances. Contact OBLIC’s Claims department.
UNDERWRITING
What is "Prior Acts" Coverage?
- Under OBLIC's policy, prior acts are covered subject to some qualifications. If an act, error or omission causing a claim occurred prior to the effective date of the current policy, the insured had no prior knowledge, and the claim is made and reported to OBLIC during the current policy term, there is coverage so long as there is no other collectible insurance available. Additionally, the person or entity must have been insured on a “Claims-Made and Reported” basis prior to the effective date of the current policy when the act, error or omission occurred.
- A policy option that provides insurance protection for any claim first made subsequent to the termination date of the captioned policy for any act, error or omission occurring prior to the termination of the policy, and otherwise covered by the policy. There are four different “reporting period” lengths to choose from; one year, two years, three years, or unlimited years.
- The Named Insured has the option of purchasing an extension of coverage so that the reporting period for claims is extended as if the insured had ceased private practice or retired, unless the policy is cancelled for non-payment of a premium or deductible amount owed.
- The policy provides an option to purchase an extension of coverage so that the reporting period for claims is extended. If this option is not purchased, coverage ceases as of the expiration date of the policy.
- Our underwriting department will contact you within 24-72 business hours of receipt of your application. At that time they will make a request for any missing information or they will issue your quote.
- Please answer the questions to the best of your ability. If your answers do not satisfy OBLIC’s Underwriting requirements, our underwriting department will contact you with suggestions for things you can do to meet the requirements.
- We do not require the use of any specific computer software systems; however, we do require that certain office and risk management procedures are used in order to reduce the risk of malpractice. Underwriting will notify you if you are not meeting our requirements.
- This person can be an attorney who has knowledge of your office and its systems. The person listed in response to this question would not be asked to step into your shoes and represent your clients. Rather, in the event of your prolonged absence or debility, it would be someone who would be able to look at your calendar/docket and make the appropriate contacts to continue litigated matters, re-schedule appointments and defer responses where no statute is involved but there is a deadline. In other words, this would be a person who could satisfy the requirement noted in Gov Bar Rule V Sec 8 (F).
- Yes; however, this coverage is subject to applicant eligibility.
- The policy can be effective the day OBLIC receives your application or later. We are unable to backdate coverage.
- There are three payment plan options for policyholders. Please see the “OBLIC Forms and Tools” page for a downloadable copy of our Payment Plan Options form.
- In order to get your policy issued, you must send all information requested by Underwriting, a copy of the quote you chose, any endorsements we sent you that require signature, and sufficient payment based upon the payment plan option you choose.
- OBLIC will mail your policy when all Underwriting requirements have been satisfied and sufficient payment has been received. Policies are generally mailed within two weeks of receipt of payment.
- OBLIC has been writing Lawyers Professional Liability Insurance since 1979.
- General questions can be addressed by any member of our staff. Questions relating to claims, coverage, or billing, will be directed to the appropriate department upon receipt of your call.
- Any changes to the policy should be sent to us in writing via e-mail, fax, or regular mail. Any additional information needed to make the change will be requested by Underwriting. Before sending in your change request, please download and complete any applicable forms (i.e. Additional Attorney Application, Deletion of Attorney form, etc.) from our “OBLIC Forms and Resources” page. Please be sure to indicate the exact date you would like the change to be made.
- There is no need to notify OBLIC as long as the law clerk, paralegal, or legal secretary is not a licensed attorney. If they are a licensed attorney, please contact an OBLIC Underwriter.
- It is not necessary to notify OBLIC of changes to your areas of practice mid-term. Minor changes can be made upon the renewal of your policy. Only notify OBLIC of changes to your area of practice if those changes significantly change your practice. It is best to contact an OBLIC representative if you have questions or are uncertain of the impact of the change on your practice.
- Yes. Please send a written request to change your policy limits. In this request you should include the desired limits, the reason for the change, and the desired effective date of the change.
- Yes. Please send a written request to cancel the policy. In this request you should include the cancellation date and the specific reason for the cancellation.
- When adding or deleting an attorney during the policy year, the premium will be adjusted to reflect the change. This is typically done by pro-rating the amount from the effective date to the end of the policy year. Unearned premium will be returned to you, and additional premium due will be requested by invoice.
These descriptions are limited to brief highlights and are subject to the coverage, conditions and exclusions in the policy.
Ohio Bar Liability Insurance Company P.O. Box 2708 Columbus, OH 43216-2708
Owned by the Ohio State Bar AssociationThis site best viewed in IE 7 and Firefox at 1024 x 768 resolution.