TLIE Basic Policy
About Descriptions of Coverage
This description of coverage under the Basic Policy refers to the unendorsed BSC-2 policy form. Please read any quoted policy carefully before deciding if it fits your needs. Any TLIE policy may be endorsed to vary from specimen policies provided to you. Policy provisions may be added or deleted depending upon underwriting circumstances.
General Nature of the Basic Policy
The Basic Policy generally provides less comprehensive coverage than the Regular Policy. Pricing of the Basic Policy is generally a flat rate, with some variations for special programs described below.
Limits and Deductibles
The only limits available under the Basic Policy range are $100,000 per claim and $300,000 aggregate, $200,000 per claim and $600,000 aggregate, and $500,000 per claim and $500,000 aggregate. All Basic Policies have a $1,000 deductible which does not apply to expenses if there is no loss or settlement on a claim.
Special Coverages
The Basic Policy excludes additional damages under the Deceptive Trade Practices, punitive and exemplary damages, mental anguish and emotional distress damages, and securities activities coverage. There is no coverage for grievance expenses under the Basic Policy.
Expense Allowance
Basic Policies do not include an expense allowance, but the $1,000 deductible does not apply to expenses if there is no loss or settlement on a claim.
Special Basic Programs
There are several lower priced policies available under the Basic policy program. All of these programs are available solely with a $100,000 per claim, $300,000 aggregate annual policy limit.
This policy is available to attorneys licensed for 3 years or less. Surplus maintenance fees are waived for these policies.
This policy is available at a reduced rate for attorneys who work less than 25 hours per week.
This policy is available to attorneys who work primarily as contract attorneys for other attorneys or firms. These attorneys traditionally have been unable to obtain insurance because of the exposure for work of uninsured attorneys with whom they are associated. This policy excludes claims by the employing attorney or firm.
This policy is available to participants in the Houston Lawyer Referral Service, the Dallas Bar Association Referral Service, and the Travis County Bar Association Referral Service. Only claims arising from matters assigned by the appropriate referral service are covered.
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© Texas Lawyers' Insurance Exchange 2000. This page was last changed May 29, 2000.