Abstracter and Title Insurance Agent
Lawyers who act as abstracters or title insurance agents in the course of providing legal services may wish to add this coverage by endorsement. The endorsement defines an abstracter as someone who prepares a summary of the recorded events that affect title to real property, including memoranda, certificates issued in lieu of abstracts, notes and references to chains of title, name searches, and tax and assessment searches.
A title insurance agent refers to a person who acts as an authorized agent for a title insurance company. The title insurance agent must be a licensed agent in good standing with the Office of the Commissioner of Insurance of Wisconsin. There is no additional premium for this supplemental coverage. Please download an application form for Abstracter and Title Insurance Coverage or contact WILMIC.
WILMIC’s policy excludes insurance coverage for securities work. This coverage can be added by removing the policy exclusions pertaining to securities work. An additional premium is due for securities coverage. Please download an application form for SEC Coverage or contact WILMIC.
Intellectual Property (IP) Supplemental Application
WILMIC’s policy includes coverage for Intellectual Property work but each lawyer who renders these services in the firm must provide the information requested in this supplemental application.
Defendant’s Reimbursement Coverage
If a professional liability claim made against you develops into a lawsuit, you may be required to attend a trial or a mediation or arbitration hearing. Defendants Reimbursement Coverage repays your necessary expenses and loss of time up to $250 per day. This coverage includes a maximum of up to $5,000 per lawsuit for each lawyer whose attendance is required. The annual premium for this additional coverage is $30 per lawyer.
Grievance Counsel Coverage
For no additional premium, your policy includes a limited coverage benefit for legal representation in grievance proceedings. The policy reimburses the firm up to $5,000 per policy period for reasonable fees for legal services charged by a lawyer (other than any lawyer insured under your policy) to defend you regarding a grievance. The grievance must allege professional misconduct in performing professional services for others. This benefit does not extend to legal fees or expenses that involve client fee disputes or grievances resulting from a lawyer’s intentional, dishonest, fraudulent, criminal or malicious acts. Payments made do not reduce the policy limit of liability. No deductible applies to this coverage.