Professional Liability Insurance Directory
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Oklahoma Attorneys Mutual Insurance Company
Contact
Phillip D. Fraim
Oklahoma Attorneys Mutual Insurance Company
P.O. Box 5590
Edmond, OK 73083
PH: 405/471-5380
Email:
Additional Contact
William R. Bandi
Oklahoma Attorneys Mutual Insurance Company
P.O. Box 5590
Edmond, OK 73083
PH: 405/471-5380
Email:
States Where the Carrier Writes:
Oklahoma
Do you write professional insurance for judges:
No
# of Years Writing Legal Insurance:
29 Years
Restrictions:
Generally none, but heavy securities practice falls outside underwriting guidelines
Size Guidelines:
Write firms of all sizes
Highest Available Limits of Liability:
$10 Million each claim & aggregate
Deductible:
Minimum $1,000; maximum $100,000
Limits in Excess of Deductible:
No
Defense Costs Included in Limits:
Pays claims expense allowance equaling lesser of $100,000 or 50% of the per claim limit, except securities activities related claims which are included within limits. Additional defense costs within the limits.
Insured's Activities for Entity Not Covered by Policy:
Excludes claims arising out of insured's acts or omissions as such.
Securities Exclusion:
None, but the claims expense shall be included within the applicable limit of liability, and the claims expense allowance shall not apply.
Defense for Malicious Prosecution, Abuse of Process or Defamation:
Defense provided under reservation.
Prior Acts Coverage:
Included, if insured did not know or could not have reasonably foreseen that such acts or omissions might be expected to be the basis of a claim or suit.
Input Re: Selection of Counsel:
No provision in the policy, requests will be considered, but company retains right to final selection.
Consent to Settle Provision:
Insured's consent required, but insured pays excess defense and indemnity if rejects settlement recommended by company and acceptable to claimant.
OPTIONS FOR SCOPE OF COVERAGE
Coverage Available for:
Partners Leaving: Yes
Employed Attorneys Leaving: Yes
Part-time Legal Work: Yes
Non-practicing Lawyers: No
Government: No
In-house: No
