RESOLUTION TRANSFERRING THE ASSOCIATION SPONSORED LAWYERS PROFESSIONAL LIABILITY INSURANCE PROGRAM SWISS RE TO CNA
WHEREAS, the Insurance Programs Committee is responsible for the general oversight of insurance programs offered to the members of the Association;
WHEREAS, the endorsed Lawyers Professional Liability insurance program of the Association is currently written with Swiss Re;
WHEREAS, CNA is rated A (excellent) by AM Best;
WHEREAS, providing an additional discount to members of the Philadelphia Bar Association is in the best interests of the members and the Association and is of tremendous importance in retaining and growing membership in the Association;
WHEREAS, the Association's endorsed broker of record, USI Affinity has recommended moving the Association's Lawyers Professional Liability insurance program from Swiss Re to CNA because of premium stability; a membership discount; and an overall discount of up to 20.5% for firms under 50 attorneys;
WHEREAS, the Insurance Programs Committee has reviewed the present policy form of Swiss Re with that of CNA and finds the CNA policy form to provide either identical or better benefits than the Swiss Re form;
WHEREAS, the Insurance Programs Committee believes it to be in the best interests of the Association and its insured members to transfer the endorsement from Swiss Re to CNA effective February 1, 2013.
NOW THEREFORE BE IT RESOLVED that the Board of Governors of the Philadelphia Bar Association directs that the endorsement of the Association's Lawyers Professional Liability insurance program be moved from Swiss Re to CNA as of February 1, 2013.
PHILADELPHIA BAR ASSOCIATION
BOARD OF GOVERNORS
ADOPTED: November 29, 2012