Sonoma Risk Expands Policy Coverage to Illinois - Enabling More Businesses and Individuals to Better Manage Financial Risk in Litigation

CHICAGO and LOS ANGELES, Sept. 14 /PRNewswire/ -- Sonoma Risk Insurance Agency today announced the distribution of Contract Litigation Insurance in Illinois. This first-of-its-kind policy is underwritten by Zurich in North America and helps protect plaintiffs and defendants from having to pay their adversary's attorneys' fees should they lose their contract case. Arthur J. Gallagher Risk Management Services, Inc. is the preferred distributor in the state of Illinois.

The risk to businesses and individuals is further complicated as 66% of defendants lose their contract disputes at trial according to the Bureau of Justice.

"With the growing instances of Loser Pays' provisions, you need to be extra cautious when moving forward with even strong cases —as legal fees often are more than the damages. Now companies and individuals can decide whether or not to pursue a case based on its merits and avoid paying their adversary's legal fees," said Kevin Martin, founder and Chief Executive Officer of Sonoma Risk Insurance.

Contract Litigation Insurance will offer a variety of benefits to businesses and individuals including:

• Mitigate litigation exposure
• Allow general counsels and business people to budget more effectively for litigation expenses
• Enable companies/individuals to pursue or defend strong claims that otherwise may have been abandoned due to financial liability

"We are excited to be the only broker in Illinois to offer a policy that provides a smart way to help protect against and reduce litigation costs," said Jody Harris, Gallagher Law Firm Solutions Managing Director.

The distribution agreement provides Arthur J. Gallagher Risk Management Services, Inc. access to all of Sonoma Risk's legal insurance policies, including its flagship product, Plaintiff Contract Litigation Insurance™ (PCLI), as well as the recently launched Defendant Contract Litigation Insurance™ (DCLI).

To provide the maximum amount of flexibility to businesses and individuals, both the PCLI and the DCLI policy can be purchased shortly after the commencement of litigation.  

Zurich, one of the leading property and casualty insurance providers globally and in North America, is underwriting the policy.

"Attorneys who share information about the benefits of litigation insurance are upholding ethical and professional responsibilities that come with the legal field," said Damiano Servidio, head of Professional Services for Zurich's Programs unit. "We are pleased that this message is resonating so quickly within the legal community and is helping us expand this new policy from where we first launched, in California, to another great market, Illinois."

ABOUT SONOMA RISK INSURANCE AGENCY

Sonoma Risk is dedicated to providing innovative and affordable litigation insurance to individuals, businesses, and corporations. Its policies are underwritten by individual member companies of Zurich in North America, a leading global insurance carrier.

Based in Los Angeles, with regional offices planned for the Midwest, Southwest, Southeast, and Northeast, Sonoma Risk is comprised of a skilled management team of seasoned professionals within the legal and insurance industries.

For more information go to http://www.sonomarisk.com

ABOUT ARTHUR J. GALLAGHER RISK MANAGEMENT SERVICES, INC.

Arthur J. Gallagher & Co., one of the world's largest insurance brokerage and risk management services firms, has formed a strategic alliance with Sonoma Risk Insurance Agency to bring your law firm's contract litigation clients a new solution to their litigation needs. We are pleased to provide you with the knowledge of a product that will enhance your client relationships and demonstrate that you are looking out for their best interests.

Gallagher Law Firm Solutions is the full service law firm brokerage division of Arthur J. Gallagher & Co. With law firm niche expertise in a full range of property and casualty and benefits insurance products and consulting, we are committed to serving the law firm community and protecting the financial health of our clients.  

E-mail Jody Harris, Gallagher Law Firm Solutions Managing Director, at [email protected], to be put in touch with a member of the Gallagher Law Firm Solutions team, for any of your insurance needs.

ABOUT ZURICH

Zurich in North America is a part of Zurich Financial Services Group (Zurich), an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland and employs approximately 60,000 people serving customers in more than 170 countries, including more than 9,500 employees in North America.

Underwritten by individual members companies of Zurich in North America, this PCLI policy is offered only in certain jurisdictions and can be purchased only on a surplus lines basis from a licensed surplus lines producer. The description here is a summary only. It does not include all terms, conditions and exclusions of the policies and coverages described.

For more information about programs offered by Zurich, go to http://www.zurichna.com/programs.

© 2010 Sonoma Risk Insurance Agency.

SOURCE Sonoma Risk Insurance Agency