Where Does Your Firm Fit In?
Corporate Litigation Work, 45-attorneys
We placed the insurance for this firm that carries $20 million
in limits excess a $50,000 deductible for a premium of $75,000.
The only other quote the firm was able to obtain was for only
$10 million in limits for a premium of $78,000.
This firm’s carrier issued non-renewal because the carrier
decided to no longer insure law firms. Richmond Insurance Group
was selected as the firm’s exclusive broker. After working
with 13 different carriers for this firm, we were able to put
together a program with a total of $10 million of coverage that
was split by two carriers.
Real Estate, 20% Commercial Litigation, 25% Plaintiff
Richmond Insurance Group earned the business of a law firm by
saving the firm 12% in premium. The carrier we placed the firm
with has over 30 years experience insuring law firms vs. the
competition who just recently entered the market. In addition,
our deductible was 25% less than the incumbent’s. Our
carrier did not require the firm to complete a new application.
Civil Litigation, 10% Collection
Richmond Insurance Group moved a law firm from a carrier that
is not going to write law firms any longer. The incumbent broker,
whom the firm had placed their insurance with for a number of
years, best price was 26% higher than our proposal. In addition,
our deductible was significantly less than the best terms offered
by the incumbent broker.
Plaintiff Personal Injury and Medical Malpractice 12-attorneys
Fighting the odds of a long-term relationship with the firm’s
current broker, Todd Richmond placed this boutique plaintiff
firm’s insurance with an A+ rated carrier at a premium
of $50,000 for $10 million in limits. The only quote the incumbent
broker presented was for a premium of over $80,000.
Domestic Relations, 25% plaintiff
Richmond Insurance Group was able to secure coverage for a law
firm that had been non-renewed by their current carrier for
claims frequency and severity. While one carrier came in at
a premium of $78,000, we were able to provide options for the
firm at like limits and deductible for $50,000. The firm ended
up taking lower limits for a premium of $30,000 plus taxes.
Tax, 26% Corporate, 17% Real Estate 31-Attorneys
After participating in an extensive broker selection competition,
we were selected as the firm's exclusive Broker of Record. Their
incumbent carrier was coming in with renewal terms at over $130,000
while we had four carriers offering like or better coverage
at premiums that were less than $100,000. We have successfully
placed this law firm's coverage with the firm paying less on
a per attorney basis this year than they have paid in the last
Worker’s Comp.-Defense 14-attorneys.
Originally told by a firm that we had no chance to write their
insurance because they had been with their broker for a number
of years and their carrier for a decade or so, we earned the
business of a 14-attorney firm by offering far superior coverage
at quite a bit lower price. First Dollar Defense, Defense Costs
in Addition to the Limits and an Aggregate Deductible were all
part of our program.
Yet another firm that was advised that their current carrier
was no longer going to insure law firms, we placed this firm's
coverage at a $2 million limit and a $10,000 aggregate deductible
with first dollar defense coverage for a very low premium
of $1,431 per attorney. In addition, the defense costs for this
firm would be in addition to the firm's limits, not part of
their limits, a very strong benefit to obtain in today's market.
We placed $1 million of coverage with only a $5,000 deductible
for a premium that was just over $1,000 per attorney. Coverage
included work the attorneys had performed while they were at
a firm that has since been dissolved.
Plaintiff Personal Injury
For like coverage and limits, Richmond Insurance Group was able
to move a law firm from an "A" rated carrier to a
"A++" rated carrier while reducing the firm’s
premium by 42%. Pleased with our work, this firm has referred
many other law firms to Richmond Insurance Group.
Plaintiff Personal Injury
This high profile plaintiff firm was informed by their carrier that
rates will be going up this year. We were hired to help the
firm place the coverage. Our proposals were significantly
better than any other quote the firm received. Our
winning quote included an aggregate deductible and defense
costs that were in addition to the policy limits.
Class Action – Plaintiff firm, 5-attorneys
The incumbent carrier finally came back to this firm two days
after their coverage had expired and offered the firm
a quote with a premium that was 65% higher than last year's
premium. We reacted immediately --the next day we placed the
coverage with an A+ rated carrier for almost the same premium
as expiring. In addition, our deductible was half the
deductible offered by the incumbent carrier.
For a firm that had been with the ISBA since 1991, we placed
the insurance for this firm with an A+ rated carrier offering
like terms by saving the firm over 45% in premium this year.
The ISBA’s premium was up significantly this year
Plaintiff Personal Injury and Medical Malpractice,
Only after one year of being insured by their carrier, the
firm was advised that their per attorney rate would be increasing
by at least 25% this renewal. Not only did we place higher
limits and far superior coverage for the firm this year, we
did so for less than their expiring per attorney rate.