Orange County NC Website
Lawyers Professional Liability <br />Policy <br />Form No: G118011A (06-2015)Policy No: 5096501940 <br />Policy; Page: 2 of 16 Policy Effective Date: 09/19/2024 <br />Underwriting Company:Continental Casualty Company, 151 N Franklin St, Chicago, IL 60606 Policy Page: 5 of 28 <br />© Copyright CNA All Rights Reserved. <br /> <br /> <br />settlement of such claim by tendering control of said investigation, defense or settlement of the claim <br />to the Insured. <br />II. LIMITS OF LIABILITY AND DEDUCTIBLE <br />A. Limit of liability - each claim <br />Subject to paragraph B. below, the limit of liability of the Company for damages and claim expenses for <br />each claim first made against the Insured and reported to the Company during the policy period shall <br />not exceed the amount stated in the Declarations for each claim. <br />B. Limit of liability - in the aggregate <br />The limit of liability of the Company for damages and claim expenses for all claims first made against <br />the Insured and reported to the Company during the policy period shall not exceed the amount stated in <br />the Declarations as the aggregate. <br />C. Deductible <br />The deductible amount stated in the Declarations is the total amount of the Insured’s liability for all <br />claims and applies to the payment of damages and claim expenses for claims first made and reported to <br />the Company in writing during the policy period. The deductible shall be paid by the Named Insured, or <br />upon the Named Insured’s failure to pay, jointly and severally by all Insureds. The limits of liability set <br />forth in the Declarations are in addition to and in excess of the deductible. <br />If a claim is based on or arises out of the rendering of eleemosynary (pro bono) legal services, no <br />deductible will apply but only where at the time of retention, there was approval by the appropriate <br />committee or lawyer within the Named Insured that the matter would be handled without <br />compensation. <br />D. Multiple insureds, claims and claimants <br />The limits of liability shown in the Declarations and subject to the provisions of this Policy is the <br />amount the Company will pay as damages and claim expenses regardless of the number of Insureds, <br />claims made or persons or entities making claims. If related claims are subsequently made against the <br />Insured and reported to the Company, all such related claims, whenever made, shall be considered a <br />single claim first made and reported to the Company within the policy period in which the earliest of the <br />related claims was first made and reported to the Company. <br />E. Supplementary payments <br />Payments made under paragraphs 1., 2. and 3. below will not be subject to the deductible. All <br />supplementary payments are in addition to the limits of liability. <br />1. Loss of Earnings <br />The Company will reimburse each Insured up to $500 for loss of earnings for each day or part of a <br />day of such Insured’s attendance, at the Company’s written request, at a trial, hearing or other <br />alternative dispute resolution proceeding, including arbitration proceeding or mediation, involving a <br />claim against such Insured, but in no event shall the amount payable hereunder exceed $15,000 <br />per Insured despite the number of days an Insured is in attendance, or the number of trials, hearings <br />or arbitration proceedings that an Insured is required to attend. In no event shall the amount <br />payable per policy period exceed $50,000 despite the number of Insureds hereunder or the number <br />of such proceedings. <br />2. Disciplinary Proceedings <br />The Company will reimburse the Named Insured up to $50,000 for each Insured and all Insureds in <br />the aggregate, for attorney fees and other reasonable costs, expenses or fees (the “Disciplinary <br />Fees”) paid to third parties (other than an Insured) resulting from any one Disciplinary Proceeding <br />Docusign Envelope ID: D93C5068-8EF6-4BC9-8D5A-4D4FF1A6FBEF