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The Case for Excess Article
We laid out the case for why Oregon law firms should consider purchasing Excess Coverage in inBrief.
View the article above to see if Excess Coverage is right for your firm.Notification of Midyear Changes
Excess coverage is written from January 1 (or the date of application) until December 31 of a given year. Changes that occur after January 1, or the firm's application date, are considered midyear changes. Firms are required to notify the PLF of some midyear changes (discussed below); however, firms are welcome to email us at excess@osbplf.org regarding any midyear changes (even when no action is required) and we will file a copy of that communication in the firm's record.
Firms are only required to notify the PLF midyear if:- The number of firm attorneys more than doubles or decreases by more than 50 percent,
- The firm merges or splits,
- There is a change in any out-of-state branch office,
- A non-Oregon attorney joins the firm, or
- The firm or a firm attorney enters into an of counsel relationship with any other firm or attorney.
Attorney Additions & Departures
Firms are not required to notify the PLF of most midyear hires and terminations of partners and associates. There are no prorated additional assessments or refunds for these attorney changes. However, notification is required, and a refund or charge would be due, in the following circumstances:"Of Counsel" Attorneys
If the firm or a firm attorney enters into an "of counsel" relationship with any other firm or attorney midyear, the PLF must be notified and a charge will be assessed or a refund due. "Of counsel" relationships require notification due to the unique role these attorneys often have in law firms. For example, many attorneys who join a firm as "of counsel" may have an active, separate law practice. The PLF requires notification so that the attorney and any separate practice can be underwritten.Non-Oregon Attorneys
If a non-Oregon attorney joins or leaves the firm midyear, notification is required and a charge will be assessed or a refund due.Attorney Joins or Leaves an Out-of-State Branch Office
Notification is required if any current out-of-state branch office of the firm has any midyear attorney hires or departures.Significant Increase or Decrease in Firm Attorney Count
Notification to the PLF is required when the number of firm attorneys more than doubles or decreases by more than 50 percent. For example, if a solo practitioner hired two associates midyear, then the PLF would need to be notified and additional charges would be assessed to add the two attorneys to the firm's coverage. (The cost would be prorated from the date the associates joined until the end of the year.) Alternatively, if a solo practitioner hired one associate midyear, notification would not be required because the firm would not have "more than doubled" in size.
Please notify us at excess@osbplf.org if any of the above situations occur midyear.Firm Merger or Split
Firm are required to notify the PLF if there is a firm merger or split midyear. In some cases, an adjustment to the premium will be necessary, resulting in a refund or a charge. The particularities of how each merger or split will be handled depend entirely on each unique situation. Please contact Emilee Preble at emileep@osbplf.org or 503-639-7285 to discuss your firm's circumstance in detail.Firm Name Change
There is no requirement to notify the PLF of a firm name change midyear, unless that name change corresponds to a firm merger or split.Addition of or Changes in Any Out-of-State Branch Office
Notification is required if the firm adds an out-of-state branch office midyear. This may result in an additional premium charge. Changes in an out-of-state branch office also require notification, as discussed above under Additions & Departures.