Lawyers Professional Liability Coverage by Preferred Concepts LLC
Mercator Risk Services, a division of Preferred Concepts LLC, offers a robust Lawyers Professional Liability (LPL) insurance solution for firms of all sizes — from solo attorneys to practices with 50+ lawyers. Whether your client is a new solo practitioner or a long-established firm with complex exposures, this program provides flexible options for primary, excess, or hard-to-place risks.
In today’s legal environment, law firms are increasingly vulnerable to client claims stemming from unrealistic expectations, frivolous lawsuits, or genuine errors. Professional liability insurance is essential protection, and Mercator Risk Services specializes in finding tailored coverage for even the most challenging LPL accounts.
Ideal Accounts and Appetite
This program is designed for a wide range of legal practices, including those that may be considered difficult to place. Ideal accounts include:
- High-exposure firms with a concentration in securities or real estate development
- Newly licensed attorneys starting their own practices
- Firms undergoing structural changes such as mergers, expansions, or dissolutions
- Practices with prior claims, disciplinary actions, or loss experience
Mercator also specializes in coverage for distressed legal professionals such as:
- 100% plaintiff’s firms
- Patent and copyright attorneys
- Sole practitioners in high-risk areas
- Firms with significant claims history
Coverage Highlights and Advantages
Mercator Risk Services works with a variety of carriers to offer flexible and competitive LPL solutions. Coverage is available on a non-admitted basis and can be structured as primary, excess, or tailored for hard-to-place risks. The team can begin evaluating a case using nearly any standard application (excluding renewal applications), or you can request a specialized form for your client’s unique situation.
You might have a client who recently left a large firm to start a solo practice — a great fit for this program. Or perhaps you're working with a small firm that’s had prior claims and is struggling to find coverage. Mercator is equipped to help you navigate these placements.
Underwriting Notes
The LPL market is evolving. While it remains competitive, many underwriters are tightening standards, increasing rates, and non-renewing underperforming books. Mercator’s underwriting team is experienced in assessing distressed and high-exposure risks, offering a valuable resource for agents seeking to place challenging legal accounts.
Territories and Availability
This program is available in all 50 states and Washington, DC. Whether your client is in California, New York, Texas, or a smaller jurisdiction, you can access this solution through Mercator Risk Services.
Why Work With Preferred Concepts LLC
Preferred Concepts LLC, through its Mercator Risk Services division, brings deep expertise in professional liability placements. As a wholesale broker with access to multiple carriers, Mercator provides responsive service, specialized underwriting insight, and creative solutions for complex legal risks. By partnering with Mercator, you gain a reliable resource for placing both standard and hard-to-place lawyers professional liability coverage.
For more information, call (860) 527-9717 or email [email protected]. You can also visit their website at www.mercatorpro.com for applications and program details.