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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.

Named Insured

An LPLI policy is always issued to the Named Insured law firm identified as the Named Insured on the Declarations Page. Individual attorneys within a law firm are Insureds, but they are not a Named Insured. This is an important distinction because an LPLI policy provides for certain rights, terms and conditions that are unique and specific only to the Named Insured law firm that are not otherwise available or applicable to each individual insured attorney within the law firm. If you are a solo practitioner practicing law as an individual however, and not within a registered business entity such as a professional corporation or limited liability company, then you are the Named Insured and the individual Insured attorney. With ALPS, you can always look to Item 1 of the Declarations Page to identify the Named Insured.