It is prudent for every law office to purchase lawyers professional liability insurance coverage through a reliable provider.
As a busy professional, you don't always have the time or the resources to research the insurance marketplace to compare all malpractice programs available today.
The NSBA has done the legwork for you so you don't have to worry if you've made the right choice. After careful review of all the major insurance carriers writing in Nebraska, the Insurance Committee chose to endorse AMBA and Old Republic Lawyers Specialty Insurance (ORLSI).
This is the only lawyers professional liability insurance program sponsored by the Nebraska State Bar Association.
The Nebraska State Bar Association-sponsored Lawyers Professional Liability Program covers you for negligence claims as a lawyer, as well as activities as an arbitrator, mediator, trustee, fiduciary or notary public. AMBA provides one of the broadest policies available. The table below gives a general overview of what the AMBA program can offer your firm.
| Highlight | Advantage |
|---|---|
Endorsed by the Nebraska State Bar Association |
Your state bar has already done your homework, and researched the competition to find a plan with the best balance of price and coverage. |
Applying Is Easy |
Download and complete the application provided at the top of this page. Or if you have completed another insurance company's new or renewal Lawyers Professional Liability Insurance application, please share that with us. Sending another insurance company's application and potentially some requested additional information will typically provide enough information for you/your firm to receive a formal quote from the NSBA-sponsored Lawyers Professional Liability Insurance plan. |
Affordable premiums and finance options |
When determining the rates, the program underwriters look for a number of factors that can help you keep the cost affordable. Finance options allow you to spread the premium over the year, rather than being forced to make one large payment. |
Wide range of limits of liability and deductibles |
A variety of coverage options allow you to tailor your individual policy to your firm's specific needs. |
Optional claims defense coverage inside/outside policy limits* |
You can choose to have a claim's legal defense costs come from your liability limits (inside) or from a separate coverage (outside).*Subject to underwriting review and approval. |
Prior acts coverage available |
If your firm is currently insured, this important coverage allows you to bring your prior acts coverage into the new policy. Also, it is possible to provide prior acts coverage for newly hired attorneys prior to them starting with the firm. |
Administered by AMBA Administrators, Inc. |
The AMBA representatives in Nebraska specialize in lawyers professional liability, and bring with them a wealth of expertise. AMBA has been serving the NSBA since 1999. They provide professional liability coverage to over 17,000 law firms nationwide. |
| Product Specifications | |
|---|---|
Limits of Liability |
|
Per Claim |
$100,000 to $5 million |
Aggregate |
$300,000 to $5 million |
Deductible |
$1,000 to $100,000 |
Claims Expense |
|
Defense Inside Limits |
Included |
Defense Outside Limits |
Available, subject to underwriting review and approval. |
Other Coverages and Benefits |
|
A separate Aggregate Supplemental Coverage Limit of Liability with no deductible for:
|
25 percent up to $100,000 |
Career Coverage/ Full Prior Acts Coverage |
Available, subject to underwriting review and approval. |
Optional Extended Reporting Periods |
1, 2, 3, 6 years or unlimited periods |
Non-practicing Extended Reporting Periods |
Free unlimited Non-Practicing Extended Reporting Period Endorsement provided after three full years insured with ORLSI. |
Coverage available for capacity as a public official |
|
Deductible reduces by 50% up to a maximum of $10,000 for early Mediation of Claims. |
|
Definition of Legal Services includes coverage for services performed as the member of a bar association, ethics, peer review, formal accreditation, licensing, or similar professional board or committee related to the legal profession. |
Definition of Legal Services considers coverage for services as an author of a publication or presentation of research papers of the fee, royalty or revenue is not greater than $10,000. |
This coverage overview is not part of an insurance contract and does not supersede the policy. Please read the policy form for complete terms, conditions and exclusions.
ORLSI insurance contracts are underwritten and issued by one or more of the following: Pennsylvania Manufacturers' Association Insurance Company; Manufacturers Alliance Insurance Company; Pennsylvania Manufacturers Indemnity Company, rated A+ (Superior) XV by AM Best and A2 Stable by Moody's. Rating determinations made by rating agencies are subject to change from time to time. While the Company attempts to show accurate information, it cannot assure the timeliness of ratings referred to herein and assumes no obligation to monitor the ratings actions of any rating agency. AM Best ratings as of March 22, 2024; Standard & Poor's as of November 17, 2020; Moody's as of October 13, 2020. A+ (Superior) and A (Excellent) ratings from AM Best represent the 2nd and 3rd highest ratings, respectively, among 13 rating categories. An A2 rating from Moody's (Highest Quality) represents the 6th highest rating among 21 rating categories and an A+ (Strong) from Standard & Poor's represents the 5th highest rating among 20 rating categories. For the latest Best's Credit Ratings, access www.ambest.com. This material is provided for informational purposes to describe the coverages that ORLSI offers. Coverage is subject to underwriting and the applicable policy terms, conditions, and limits. This is not intended to and does not modify the terms and conditions of any insurance policy or imply that any particular claim is covered.
We're here to help! Please contact us in whatever manner is most convenient for you.
Existing Customers:
| Address AMBA 4050 114th Street Urbandale, Iowa 50322 |
|---|
| Phone 1-866-236-6582 |
| Hours M-F 8a-5p CT |
| Email [email protected] |
New Customers:
| Address AMBA 4050 114th Street Urbandale, Iowa 50322 |
|---|
| Phone Toll Free: 1-866-236-6582 |
| Hours M-F 8a-5p CT |
| Email [email protected] |
Answers about the plan, including eligibility, options, enrollment, customer service and more.
How do I apply?
What exactly is meant by ‘professional liability insurance’?
Simply stated, the term, "professional liability insurance" insures a person and/or an entity (corporation, partnership, etc.) against claims made by third parties (clients, customers, etc.), alleging an act, error, or omission in the rendering of, or the failure to render, professional services.
Professional liability insurance is also often referred to as "errors & omissions" or "E&O" or "malpractice" insurance. These are just different ways of saying the same thing.
Do I have to carry professional liability insurance?
No, but it is highly recommended by the NSBA.
Statistics show that in any given year, a minimum of five to six insured lawyers out of every 100 in private practice will experience a malpractice claim. Statistically, this means a firm of 20 lawyers could be the recipient of a claim every year. Since the exposure to legal malpractice is greater now than ever before, it is a prudent part of law office management to establish meaningful loss prevention practices including the purchase of proper lawyers professional liability insurance coverage.
How much does it cost?
How do I compare policies?
How much coverage do I need?
There is no single way to answer this question. Under most policies, the "each claim" limit of liability defines the company's maximum total obligation for settlements, judgments and defense costs (including attorney’s fees) in connection with a single claim, so you should keep in mind that costs can consume a significant part of the limit.
One common benchmark is to select an each-claim limit that would cover all or most of the firm's liability for a claim (plus the cost of defense) arising from a "typical" engagement, assuming the firm was found to be 100% responsible.
What deductible should I choose?
That depends on how large a check you can write without seriously disrupting your finances, and how much you can save by choosing a larger deductible. Many companies require a deductible of at least $1,000 each claim for a single attorney, while $2,500 or more each claim per attorney is considered a more typical deductible as the firm's size increases. Companies may also set a maximum deductible per attorney. Increasing your deductible will lower your premium, but you should be realistic in weighing the value of minor premium savings compared to the additional risk you are assuming, since you will have to pay your deductible before the company begins to pay for costs.
A good way to evaluate this tradeoff is to request several quotations that "bracket" the deductible you feel most comfortable with. Remember, also, to consider whether the deductible applies separately to each claim, or applies on an annual aggregate basis regardless of the number of claims in a policy year.
Can I pay the premiums in installments?