We at Dominion Insurance Services, along with our predecessors in business, have been serving the insurance needs of our clients for nearly half a century. Two decades ago we developed the first-in-the-nation liability insurance program designed specifically for patent practitioners, both agents and attorneys. We have continuously provided this important coverage ever since, always striving to be creative, proactive risk management specialists who work diligently to meet our clients' needs.
When it comes to insuring Patent Attorneys, Dominion Insurance Services accesses virtually every active professional liability insurer in the marketplace for the benefit of its insureds. Working as your broker, not as a carrier's agent, we craft custom coverages suited to your needs. Other sources often offer a one-size-fits-all solution that, in reality, may not be the best fit for your firm.
For example, while not a good choice for litigators, one of our latest innovations, the Patent Lawyer Liability (PLL) program is an excellent, cost-effective option for IP prosecution lawyers. Consider the significant new PLL features and benefits set forth below. As you read on for details, we're confident that Dominion will continue to be for you a trusted place Where the Answers Are.
The PLL program is underwritten by Lloyd's of London. Unlike any other carrier in the marketplace, Lloyd's is backed by a unique, distributed and prodigious chain of security. Because Lloyd's is an insurance marketplace, not simply a single carrier, Lloyd's brings together vast resources providing synergistic safeguards for its insureds. For example, in addition to funds held by each syndicate (insurance carrier) Lloyd's members participate in a series of layered central funds that amount to over seventy-five billion dollars in security for its insureds. Not surprisingly, in over three and a quarter centuries of operation Lloyd's has never failed to pay a valid claim.
Claims handling at Lloyd's employs a time-tested, team approach, overseen by a claims underwriter working in conjunction with the insured, appointed defense counsel, Lloyd's coverholder (Dominion), and the Lloyd's broker. For the PLL program, Lloyd's has also established a toll-free, confidential Risk Management Hotline for policyholders. Policyholders can feel confident to discuss fully thorny situations without the fear of jeopardizing their insurance coverage.
At Lloyd's utmost good faith is more than just a motto, it is a deeply ingrained cultural heritage grounded in notions of transparency, honesty in business dealings, and fair play. For this and other reasons Lloyd's is all about developing and maintaining long-term relationships with its insureds. Time and again when domestic carriers have fled the market amidst economic panic or adverse claims development, Lloyd's has stayed the course, protecting its insureds while the turmoil subsides.