Lawyers’ Business Owners Policy

ISBA Mutual Insurance Company offers a comprehensive office package policy that provides property and general liability coverage specifically designed for lawyers in Illinois. 

Protecting the tangible vs. intangible assets that include your law practices – from law libraries, artwork, records and the potential loss earnings from catastrophic events are covered by our Business Owners Policy Coverage.  Features of the Coverage includes:

Business Owners Policy Property Coverage (BOP) 

  • Full Replacement Cost
  • No Coinsurance
  • Business Income and Extra Expense
    • Actual loss sustained up to 12 months
    • No waiting period
    • Billable hours option up to $50,000
    • Dependent properties—$50K limit included; can be increased
  • Electronic Equipment Breakdown
  • Utility Services ($25,000 limit)
    • Direct damage and business income extra expense
  • Valuable Papers ($100,000 blanket limit)
    • Flood and earthquake perils covered
  • Accounts Receivable ($250,000 blanket limit)
    • Flood and earthquake perils covered
  • Fine Arts ($100,000 limit)
  • Identity Fraud ($25,000 limit)
  • Water Backup and Sump Pump Overflow ($25,000 limit) Employee Dishonesty ($50,000 limit)
  • ERISA ($100,000 limit)

Business Owners Policy Liability Coverage:

  • Defense Outside Liability Limits
  • Medical Payments ($10,000 limit)
  • Damage to Premises Rented to You ($1,000.0000 limit)
    • Perils expanded to include fire, water, smoke, lightning and explosion
  • Automatic Blanket Additional Insureds
    • Lessors/Landlords of premises • Lessors of leased equipment
  • Waiver of Subrogation
    • Blanket based on contract

Optional Liability Coverage Endorsements Available

  • Employment-related Practices Liability (EPLI)
  • Hired and Non-owned Auto Liability Hired Car Physical Damage
  • Employee Benefits Liability

Excess Liability Coverage:

  • Follow Form With Underlying up to $5 Million for the Following Coverages:
  • General Liability
  • Auto Liability
  • Employers Liability Employee Benefits Liability

We are a malpractice insurance company created by lawyers, run by lawyers, for lawyers. Unlike other insurance carriers, we only serve the Illinois lawyers malpractice market.

© 2020 ISBA Mutual Insurance Company