June 7, 2021 – LONDON – Bell and Clements Inc. (B&C, Inc.), part of Munich Re Specialty Insurance (MRSI), is launching an Intellectual Property Legal Professional Liability (IPLPL) product specifically designed for law firms of all sizes with 65% or more of their revenue derived from the practice of Intellectual Property (IP) law.
The product is underwritten by the B&C team of experts through The Princeton Excess and Surplus Lines Insurance Company, a Munich Reinsurance America Inc affiliate, rated A+, XV (Superior) by A.M. Best and AA- (very strong) by Standard & Poor’s.
“The legal market is ever evolving and launching a modular coverage IP product that addresses vital needs for the sector is important and expansive to what is currently available in standard offerings,” said Nick Ash, Chief Executive Officer of Bell and Clements Ltd., the parent company of B&C Inc. “Our product, combined with a specialized distribution approach and a simplified Quote & Bind system augmented by real-time data, helps to bring the policyholders closer to the carrier. As a result, the entire user experience is much more streamlined. Overall, this is an exciting time for Bell and Clements to further expand and complement the MRSI suite of Professional Lines capabilities.”
In addition, B&C Inc. is partnering with leading risk management and litigation firm Freeman Mathis & Gary, LLP (FMG). Through this collaboration, the IPLPL product offers insureds access to comprehensive risk management materials and resources. The partnership also provides personalized access to a pre-claim risk management hotline serviced by FMG expert legal advisors.
“FMG is proud to be partnering with B&C Inc. and is pleased to showcase the knowledge of our FMG attorneys for the benefit of the IPLPL product,” said Ben Mathis, Managing Partner of FMG. “By maintaining diligent compliance practices ourselves, we are even more equipped to assist B&C policyholders. We have attorneys who are well regarded in the legal malpractice industry who will be among those providing invaluable risk management services and other comprehensive resources. Our partnership with Bell and Clements will enhance brokers’ and policyholders’ confidence in the product and have a lasting impact within the field.”
The specialized distribution of the IPLPL product will be managed by limited U.S. regional retail brokers and a wholesale broker who have experience in offering expert Professional Liability services to the legal sector. For more information about the distribution, please visit: https://www.bellandclements.com/what-we-do/binding-authorities/intellectual-property-legal- professional-liability
The B&C Inc. Professional Liability team is based in New Jersey with over 100 years of combined experience working in the Professional Liability insurance industry.
About Bell and Clements Inc.:
Bell and Clements Inc. is a leading expert in understanding and connecting U.S. coverholders and brokers to flexible and innovative insurance solutions. The Company has the ability to combine both in- house and third-party capacity to provide surplus lines and admitted solutions. Bell and Clements Inc. is part of Munich Re Specialty Insurance (MRSI).
You can find more information regarding MRSI here.