Business Insurance Options Small Law Firms Should Consider
When you think of protection from malpractice as an attorney, we hope you think of ALPS. For over 35 years ALPS has focused exclusively on the professional liability needs of solo and small law firms throughout the country and nothing else. This has made ALPS an expert in servicing this highly specialized coverage and most importantly defending our insureds with the same zealous advocacy as you devote to your clients.
While malpractice insurance is the most important insurance for any attorney, a potential malpractice claim is not the only risk a lawyer faces. Any law firm has additional risks as a legal business entity transacting with the general public.
The most common business insurance coverages that complement your malpractice insurance are:
- Business Owner’s Policies (BOPs)
- Commercial General Liability (CGL)
- Workers Compensation
- Employment Practices Liability
- Cyber Insurance
- Crime policies
Many law firms across the country have trusted ALPS with their malpractice insurance coverage for several years, and some have been with us the entire 35 years we’ve existed. We are very proud to continually receive strong Trust Pilot reviews and know that our insureds enjoy working with and trust ALPS with their most important insurance. While they aren’t going anywhere else for their malpractice coverage, many lawyers asked us to offer more options to cover the business aspects of their practice.
We listened and last summer ALPS launched our Business Insurance program from scratch by partnering with 3 of the 5 largest business insurance carriers in the U.S. to write comprehensive and competitive policies, customized to small law firms by complementing the professional liability we already provide. As ALPS is the leading expert in the insurance needs of lawyers, adding business insurance with ALPS is a smart move for any law firm.
When our insureds discover that ALPS is now offering expanded insurance products, we typically hear these two kinds of statements:
1. "I currently have a Business Owner's Policy (BOP) with another carrier that renews next month. I’d like you to take it over and manage this in one place with ALPS to make the whole process easy," or "can you offer a competitive alternative? If so, I’ll be very happy to have ALPS be my Single Solution for law firm insurance."
2. "I have no idea what I have or need, please help me get the right coverage."
Business Insurance can seem to be endless, but we typically start with a BOP and Workers' Compensation quote and then help you determine what else is necessary to fully protect your reputation, your assets, and the variety of liabilities your law firm is exposed to in order to provide you with a single insurance solution for your firm. ALPS makes it easy for your firm to find the coverage that fits you best. Learn more, start a quote, or schedule a call with us today.
Authored by: Kurt Whitmire, Director of Commercial Lines
Coming to ALPS with an extensive business background, Kurt brings a unique perspective on liability insurance to his role in business development. Having owned his own business Kurt understands what decision makers value. While liability insurance isn’t top of mind for every law firm on a daily basis, choosing the right carrier is certainly an important decision to make when the time is right. As a business owner, Kurt was working with partners that he knew would take care of his business when he needed them most. He understands that the firms he works with want the best value for their hard earned dollar and the peace of mind knowing that the firm can always rely on their partners. This relationship is often sold to firms but it is not always delivered. Kurt’s role at ALPS is to be a conduit between law firms and ALPS’ staff of underwriters, claims attorneys and others to deliver on ALPS unique and time-tested value proposition.