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Coverage Question Series – Part 49
Post on April 5th, 2019
This is a continuing series in which we address policy coverage questions that we routinely discuss with you and your colleagues. The answers provided are based on the basic policy form, currently LPLP-1s (effective for all policies new or renewed as of May 1, 2018). Refer to your specific policy and any endorsements attached thereto that may change coverage or the answers provided here.

I am partially retiring from the practice, am I covered?

Yes, if you have an active, current policy! We previously reviewed coverage provided by an Extended Reporting Period Endorsement (“tail policy”). However, the “tail” does not provide any coverage for those sporadic legal services for that favorite client.

The best way to cover your practice as you wind it down or hand it off, and comply with Ohio Prof. R. 1.4(c), is to maintain an active LPL policy. OBLIC offers part-time policy endorsements for lawyers providing “Professional Services” to others on average of 25 hours per week, or less, for at least the next year. This option provides coverage for the attorney phasing out of the practice or for those lingering legal services that just cannot seem to close, for a reduced premium.

There are coverage considerations to weigh when switching to a part-time policy. I recommend contacting our underwriting team to discuss the options available for your policy.

As you should expect, these Q&A scenarios are based on simple hypotheticals. Coverage determinations for an actual claim are ultimately based on the unique facts, applicable law, and the Terms, Conditions, Limitations, Exclusions, and Endorsements of your policy.
Please contact me at [email protected] if you have any questions!
Carl Marsh, Esq.
Claims Counsel