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NLADA INSURANCE PROGRAM STRENGTHENS ITS COMMITMENT TO PROVIDE PROFESSIONAL LIABILITY INSURANCE TO THE LEGAL SERVICES MARKET
Relationship with The Hanover Insurance Group Solidifies Role as the Premier Insurance Provider for Lawyers in the Legal Aid and Public Defender Communities WASHINGTON DC—March 28, 2011 (BUSINESS WIRE)— Through its new alliance with insurance underwriter The Hanover Insurance Group (“ The Hanover”), the NLADA Insurance Program strengthens its commitment to provide excellent professional liability insurance products, lower premiums and cost-free risk management products to customers, including individual attorneys, legal aid organizations, public defenders and pro bono programs that provide legal services to those who cannot afford counsel. Wells Fargo Insurance Services USA, Inc. remains its broker. “We selected The Hanover because of their sound financial strength, excellent ratings, expertise in the area of Professional Liability Risk Management, and commitment to work with us to offer our customers enhanced coverage and a wide array of products to meet their changing and specialized needs,” said Clint Lyons, president and CEO of the NLADA Insurance Program. “We understand that our colleagues in the public defender and legal aid community are operating with scarce resources. We play an important role as their advocate in keeping insurance rates competitive and ensuring product excellence.” Since the NLADA Insurance Program’s entrance in the market, average insurance costs per program attorney have been cut in half and products have expanded exponentially. “We are thrilled to have the opportunity to provide important liability coverage for NLADA members, and we are honored to have the NLADA’s confidence and endorsement,” says Anurag Bairathi, vice president of The Hanover’s Lawyers Professional Liability business. “Like the NLADA and its members, The Hanover has been providing a valuable service for generations. We look forward to building on our proud tradition going forward, providing NLADA members with comprehensive professional liability protection and outstanding service.” “One of the most important benefits the NLADA provides its membership is the availability of Professional Liability Insurance through the NLADA Insurance Program. NLADA Service Corporation has developed the NLADA Insurance Program into the quintessential association program, making excellent insurance coverage available for the most economical cost. NLADA Service Corporation also provides excellent risk management and loss control services that allow NLADA members to control insurance costs and improve operational efficiencies. As the insurance broker for the NLADA Insurance Program since 2000, we’re committed to ensuring the financial strength and the competitive advantage of the NLADA Insurance Program in this specialized marketplace,” stated David Bridges, senior vice president, Wells Fargo Insurance Services. In December 2009, the NLADA Insurance Program issued an request for proposals to leading underwriters to partner with them to meet its insured 21st Century needs and objectives. The Hanover’s proposal was the superior proposal. In December 2010, the NLADA Insurance Program terminated its relationship with the incumbent insurance carrier; though all current NLADA Insurance Program policies will continue to be covered by that carrier until their policy expiration date. Renewals for policies that expire in 2011 and new policies will be underwritten by The Hanover. Additionally, the new relationship with The Hanover enables the NLADA Insurance Program to provide members the following: 1. Superior product with options and excellent coverages that can meet each insured’s needs 2. Premium Relief Immediately for accounts with good claims histories and excellent risk management protocols 3. Ease of Renewal: Online applications, quoting, binding and policy issuance 4. Risk Management Training and Materials to Reduce Premiums and Improve Coverage. Free Online access to NLADA Insurance Program Risk Management Resource Center that includes: online risk management materials--customizable management policy guidelines and forms for particular program needs, local impact requirements and professional liability. The NLADA Insurance Program continues to reinvest its net proceeds to partner and support important National Legal Aid & Defender Association centennial and local initiatives that enhance our insureds’ ability to provide quality legal services and support to low-income individuals and families who cannot afford counsel. The NLADA Insurance Program, formed in 1994, offers a wide range of coverages to individual attorneys and legal aid organizations, public defenders, corporate pro bono law programs, law school clinics and public interest groups, serving more than 1,100 NLADA members nationwide. NLADA Service Corporation, a nonprofit subsidiary of the NLADA developed the NLADA Insurance Program, which offers superior coverage underwritten by an established domestic insurer, The Hanover Insurance Group. Wells Fargo Insurance Services USA, Inc. serves as its broker. The NLADA Insurance Program’s knowledge, experience and dedication to those who provide legal services to low-income people are unparalleled in the insurance market. It advocates on behalf of its member insureds for competitive pricing and product excellence. Policyholders are treated as investors, with net proceeds reinvested back into the legal services community in the form of training and support of NLADA national and community initiatives. The Hanover Insurance Group, Inc. (NYSE: THG), based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester; Citizens Insurance Company of America, headquartered in Howell, Mich., and their affiliates. The Hanover offers a wide range of property and casualty products and services to individuals, families and businesses through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for more than 150 years. Taken as a group, The Hanover ranks among the top 25 property and casualty insurers in the United States. Wells Fargo Insurance Services USA, Inc., headquartered in Chicago, Ill., is the fifth largest insurance brokerage firm in the world, according to Business Insurance magazine, and the largest bank-affiliated insurance brokerage firm in the United States. Wells Fargo Insurance Services USA provides insurance brokerage and administrative services, as well as a wide range of financial and consulting services to thousands of satisfied customers. Today, the brokerage firm has 200 offices across the nation with more than 8,200 professionals who place more than $15.5 billion in risk premiums. The National Legal Aid & Defender Association (NLADA), founded in 1911, is America's oldest and largest nonprofit association of individual legal professionals and organizations devoted to ensuring the delivery of legal services to those who cannot afford counsel. For 100 years, NLADA has pioneered access to justice at the national, state and local level and been involved in nearly every landmark case and legislative and policy initiative that has shaped America's justice system. From NLADA’s involvement in the creation of important institutions such as the Legal Services Corporation, the development of nationally applicable standards for legal representation to groundbreaking legal legislation and the creation of our public defender system, NLADA has been critical to securing justice for all. NLADA is the collective voice for both civil legal services and public defense services throughout the nation. For more information, please visit. www.nlada.org/insurance, or call the NLADA Insurance Program at 800-725-4513. |
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