Bell & Clements unveils intellectual property liability product for law firms

Bell and Clements (B&C), part of Munich Re Specialty Insurance (MRSI), has unveiled an intellectual property legal professional liability (IPLPL) product for law firms specialising in intellectual property (IP) law.

The coverage is aimed at law firms of all sizes as long as 65 percent or more of their revenue is derived from IP law. It is underwritten by B&C through The Princeton Excess and Surplus Lines Insurance Company, a Munich Re America affiliate that is rated A+ by AM Best and AA- by Standard & Poor’s.

Freeman Mathis & Gary (FMG), the risk management and litigation firm, supports the IPLPL product by providing personalised access to a pre-claim risk management hotline it services.

Nick Ash, chief executive officer of B&C, said the IPLPL product, combined with a specialised distribution approach and a simplified quote and bind system, brings policyholders closer to carriers and streamlines the user experience.

“The legal market is ever evolving and launching a modular coverage IP product that addresses vital needs for the sector is important and expansive to what is currently available in standard offerings,” he added.

Ben Mathis, managing partner of FMG, said its partnership with B&C will enhance brokers’ and policyholders’ confidence in the product. “By maintaining diligent compliance practices ourselves, we are even more equipped to assist B&C policyholders,” he said.

B&C’s professional liability team is based in New Jersey and has over 100 years of combined experience working in this business line.

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