A new policy from the Chubb Group of Insurance Companies helps protect the personal assets of in-house attorneys. Inhouse counsel insurance is something law departments should look into and discuss with their corporate risk managers – especially as in-house counsel are increasingly becoming targets in litigation and governmental investigations:
Employed Lawyers Professional Liability by ChubbSM offers in-house attorneys and their employers broad protection against allegations of legal malpractice stemming from the services provided by in-house counsel for activities such as the review of shareholder communications and the issuance of legal opinions to the board of directors. Coverage is provided for judgments, settlements and defense costs. It also extends to civil penalties leveled against in-house counsel under the Foreign Corrupt Practices Act.