Rapidly growing general practice law firm merged with several smaller practices. The previous insurance provider failed to recognize and proactively manage the exposure of the newly organized firm based on independent pre-merger activities. As a result, several partners and associates were uninsured for years of legal services.
MGW Response: MGW was engaged primarily due to their analytical approach to forecasting, managing, and reacting to the complex implications of business operations on professional liability insurance. As an expert in designing insurance coverage for law firms experiencing mergers/acquisitions and with deep knowledge of the effects of hiring and firing on professional liability needs, MGW negotiated lateral hire coverage for the exposed attorneys without disrupting coverage for the balance of the firm. The firm continues to expand significantly, with limits that have increased five fold and the per capita rate remaining flat.
With their unique skill set of proactively identifying the insurance ramifications to a wide range of firm activities, MGW offers ongoing strategic support to the firm. MGW regularly participates in the firm’s management and professional responsibility committee meetings, addressing personnel and infrastructure-related issues including human resources, practice area diversification, and geographical expansion.