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Ask the Underwriter
Q. If an attorney leaves my firm mid-term during the
policy period, will AIM give me a pro rata refund of the policy premium
attributable to the attorney who left?
A. There are no premium adjustments made during the
policy period for attorneys leaving a firm. Therefore, there are no
refunds. On the other hand, if an associate joined your firm mid-term,
you would not be charged additional premium for that policy period.
After that policy expires, your new policy=
s premium will reflect a charge for the additional attorney.
Q. Does AIM= s
policy provide coverage for my acts as a title agent or title
abstractor?
A. The AIM policy extends coverage to work performed as
a title agent or title abstractor when these services are performed in
an attorney-client relationship. The AIM policy, however, is not a title
agent= s errors and omissions
insurance policy.
Q. Does AIM's
policy provide any coverage for an insured who is performing legal
services for a family-owned business?
A. AIM's
policy excludes liability coverage arising out of professional services
rendered by an insured to a business enterprise that is owned or
controlled by the insured or insured's spouse, children, parents or siblings of either. Owned or controlled
means effective management control or ownership in amount greater than
ten percent. See the AIM policy, III. Exclusions (5).
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