Our Services

Oklahoma Attorney’s Mutual Insurance Company serves Oklahoma attorneys and provides peace of mind for each of our members and, ultimately, for their clients. 

Our core focus is lawyers’ professional liability insurance, also known as errors and omissions insurance or legal malpractice insurance, for Oklahoma Bar members. Our coverage includes acts or omissions for legal services rendered—or which should have been rendered—by the insured lawyer or person for whom the insured is responsible.

In addition to our core service, we offer:

  • Office Package Policy
  • Court Bonds
  • Risk Management

Claims-Made Policy

Home or auto insurance are both examples of occurrence policies. Coverage under occurrence policies begins in the event of damage or injury. Most claims occurring during the term of the policy can be made after the occurrence policy has expired and still be covered, subject to the terms and conditions of the policy.

In contrast, professional liability insurance is written on a claims-made and reported basis. This form of coverage requires that all claims be reported to your insurance company in writing while the policy is in effect. Unlike the occurrence form, the policy in effect at the time the claim is reported will be the one that responds. Extended Reporting Protection (also know as tail coverage), extends the time allowed to report a claim and is an option within the policy.

Claims-Made policies note the insurance company is responsible for the defense and payment of those claims first made against the insured and reported to the insurer during the period when the policy is in effect. 

Benefits to the insured are two-fold: the premium for a current policy does not have to provide for future claims at their inflated values. Instead, future claims will be paid by the premiums of the policies in effect at that time. Premiums in the early years of coverage are greatly reduced allowing a much less expensive entry into coverage.

Secondly, this allows our clients to tailor the limits of liability, and adjust limits of liability for economic and social inflation. This enables the insured to secure adequate protection in the year a claim may arise. 

OAMIC provides Oklahoma lawyers with competitive rates on professional liability insurance, also known as errors and omissions. Oklahoma Attorneys Mutual Insurance Company is an admitted carrier that provides different policies to meet the needs of all firms. We offer limits of liability from $100,000 per claim/$300,000 annual aggregate to $10,000,000 per claim/$10,000,000 annual aggregate.

View our complete Claims-Made Policy

Office Package Policy Information

In addition to professional liability insurance, Oklahoma Attorney’s Mutual offers a comprehensive office package policy through another reputable insurer, that provides property and general liability coverage specifically designed for law firms. It is vitally important that buildings, computers, law libraries, artwork, valuable papers and records—even intangibles like loss of earnings caused by catastrophic events— are properly covered. After all, an insured’s loss of any of these items would cause economic hardship for the entire firm.

Employment Practices Liability 

EPL is often forgotten or not understood.  Even worse, the biggest mistake in risk management occurs by adopting the belief that it surely can’t happen to us.  

EPL includes a fairly broad array of exposures arising from the employment process.  Most common among these are:  Discrimination, Failure to Promote, Wrongful Termination, Harassment, Disability Rights, etc.  A great feature in the EPL coverage offered by OAMIC is that it applies to third parties, i.e. clients, as well as employees.

OAMIC’s lawyers professional liability (LPL) policy was enhanced with the ability to add employment practices liability (EPL) to the coverage. Read more here

Cyber Liability and Data Breach

Cyber-Liability is emerging as a concern in lawyers professional liability insurance.  It is an area of evolving exposures that are very real.

PricewaterhouseCoopers’ Forensic Services Group recently stated that law firms are more at risk than financial institutions to be breached.  Yet, cyber coverage for law firms is a big hole.  That is no longer the case for OAMIC Policyholders!!

Each OAMIC policy issued in 2013 will have a Cyber Liability – Data Breach Endorsement attached. Read more here

Bonds Information 

Probate attorneys often must post a bond on behalf of an executor, administrator, or conservator of an estate. Bonds are also needed in other situations, including appeals, injunctions, TROs, and replevin actions. Go to our bonds page here.

You may need a bond but not know exactly what type of bond you need to or where to get it. Click here to read our bonds FAQ, which provides valuable information about the process.

Risk Management

OAMIC is dedicated to offering resources to help Oklahoma lawyers improve service to their clients and reduce their risk of legal malpractice.