Aon | Professional Services Practice
Law Firms
We help law firms understand, quantify and manage their risk exposures, as well as providing human capital solutions. Our team has particular knowledge and experience in law firm professional liability – spanning both loss prevention and insurance solutions.
We have a global presence and operate dedicated client service/brokerage teams in London, Bermuda, Europe, Asia and Australasia.
This approach maximizes options for our clients, as we operate as one team. Because each team member works for Aon, we are able to provide seamless market access and client service - and do not use third party intermediaries.
Takeaways From the 2024 Aon Law Firm Symposium
Aon’s Professional Services Practice held its 21st annual Law Firm Symposium in Phoenix, Arizona, from October 23-25, 2024. The Symposium is the premier risk management event for large and sophisticated law firms and the insurers that serve them.
Read moreProfessional Services Practice In The Press
“Some clients might ask for the firm to use AI because it could be a cost-cutting measure for searching documents and things like that, but they’re very careful when using it and in putting parameters around how their lawyers can access AI tools,” said Maggie O’Donnell, Chicago-based chief client officer for professional services at Aon PLC.
Expanding risks drive lawyers liability claims, November 1, 2024, Business Insurance
Law Firm Loss Prevention
Aon is the only broker with a dedicated loss prevention team that provides guidance to law firms on risk management, legal ethics, and professional liability law. This service is provided exclusively to Aon’s professional liability law firm clients at no cost.
Professional Liability Insurance for Mid-Sized Law Firms
We provide our law firm clients with the most comprehensive and cost-effective Professional Liability coverage available. Our mid-sized law firm offerings provide the same quality coverage typically afforded to large firm.
Click here to learn moreOur Approach
Integrated solutions for law firms-
Client Advisory
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Benchmarking Data
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Program Design
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Insurance Placement
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Claims Handling
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Risk Management
In the insurance transaction, we are client advocate rather than an agent of insurers. Our philosophy is "clients first," and we use our expertise and leverage to obtain the broadest coverage with quality insurers at competitive pricing. To help our client manage its risk, we provide multiple alternatives for coverage, rather than a single renewal option.
Our team works exclusively with law firms. This has created an institutional knowledge base that cannot be replicated by others. Many of our team members have spent the vast majority of their careers at Aon or its predecessors.
We are a team of brokers and risk advisors who collaborate with one another and pool our experience and expertise. We negotiate directly with the most senior underwriters of each insurance carrier with which we deal. We negotiate with a multitude of global insurance companies that we consider to be the most committed, financially stable, aggressive and appropriate for the client. Market intelligence, experience, and best practices are shared regularly.
Our team retains all responsibility and control for the placement of coverage. Our approach includes:
- Meeting regularly with clients to understand their nature and their specific insurance needs.
- Reviewing the current program, as well as open claims/circumstances, which often leads to a discussion on potential policy enhancements.
- Discussing with clients the insurance markets that we will approach for coverage, including full disclosure of market-facing compensation.
- Working with clients on their insurance applications and market submissions.
- Preparing clients for underwriting meetings, including providing a comprehensive list of potential insurer questions, and running "mock" meetings when necessary.
- Negotiating directly with the insurance markets with a focus not only on price, but also on the policy terms and conditions (including bespoke coverage enhancements).
- Presenting terms, as well as alternative options.
- Binding coverage and invoicing, as well as providing options for premium financing.
- Serving as claims advocate through in-house experts that are dedicated to advancing our clients' interests in the claims process.
In addition to transactional broking and risk services, our team also provides management consulting and advisory services to law firms. Please click here to learn more about these service offerings.