Law Firm - Affordable D&O Cover for a Smaller Practice

A law firm approached us needing Directors & Officers cover. As a smaller practice, they assumed the premiums would be out of reach.

Most quotes they'd received from other brokers were bundled into larger Management Liability packages that included EPL and statutory liability sections they didn't need. They were essentially paying for coverage that didn't match their actual risk profile.

They wanted proper director protection but didn't want to be locked into an expensive package full of sections that weren't relevant to their business.

We started by understanding what they actually needed versus what they'd been quoted:

• Risk assessment: Identified that their primary exposure was director liability rather than employment practices - they had a small team and low EPL risk
• Product focus: Sourced standalone D&O options rather than full ML packages, stripping out the sections they didn't need
• Market comparison: Compared options across multiple insurers to find competitive terms for a legal services firm
• Wording review: Ensured the D&O wording covered the specific risks law firm directors face, including regulatory investigations by the relevant law society

Rather than defaulting to a one-size-fits-all ML package, we tailored the approach to their actual exposure and budget.

Most ML brokers default to full packages because the commission is higher. We focused on what the client actually needed rather than what generated the biggest premium.

Legal services can be a tricky occupation class for D&O because of the overlap with Professional Indemnity. Law firms already carry PI cover, so we needed to ensure there were no gaps or overlaps between their existing PI policy and the new D&O policy.

Finding competitive standalone D&O for a smaller practice required going beyond the usual retail markets. Many insurers only offer D&O as part of a bundled ML product, so we had to look at specialist options to find the right fit at the right price.

No gaps between their PI and D&O cover. Both policies were reviewed together to confirm everything was aligned and there were no coverage blind spots.

This placement proved that director protection doesn't have to break the bank, even for professional services firms. Affordable D&O cover exists - you just need a broker willing to look beyond the standard bundled products.