Do you have a real estate title agency or an arbitration mediation company? Did you know that these types of companies can be added to your legal malpractice insurance policy as an additional insured?

Adding them to your legal malpractice policy can be a cost effective method of ensuring that entity against malpractice insurance claims. All carriers have some requirements that the entity must satisfy, but usually those requirements are few.

One requirement that seems to be at the top of all the carrier’s lists is that the entity must be 100% owned by either the firm or the members in the firm. If it is not 100% owned by the firm or the members, the entity cannot be added as an additional insured.

So if you’re in this situation and looking for coverage for that separate entity, consider adding the entity as an additional insured to your legal malpractice policy. It is not a bad option.