Contractual Liability is a common attorney malpractice policy exclusion. As there is not a common policy form this ‘exclusion’ may or may not be found in the policy exclusion section. The different exclusion wording appears in many different policy form sections. The current AXIS Pro Lawyers policy is an example of this common exclusion. In the AXIS policy it is part of the Claims policy section:
“You must not, except at your own cost, make any payment, admit any liability, settle any claims, assume any obligation or incur any expense without our prior written consent.”
Be aware that any contract that you make with another party that your insurer is not a party to that contract. Any obligations that you assume are not assumed by your attorney malpractice insurer. Nor can you amend the terms and conditions of your attorney malpractice policy with a 3rd party contract.
Lee Norcross, MBA, CPCU
Managing Director, CEO
(616) 940-1101 Ext. 7080