Mike McLean November 11, 2022 2 min read

Law Firm Goldstein Hall Reduces Premium by 28%

A man working on his computer, trying to find the answer to the question: is key person insurance tax deductible?

“Embroker reduced our E&O premiums and we didn’t have to fill out a single paper application to do so.” – David Goldstein, Managing Partner at Goldstein Hall

The Client

Founded in 2006, Goldstein Hall is a full-service law firm with a concentration in affordable housing and community development. Their diverse staff’s knowledge, expertise, and personalized approach help their clients achieve their goals. This customer-first approach adds to their growing reputation as a smart, reputable, and responsive firm with deep roots in their community.

The Challenge

Goldstein Hall employs a seasoned group of experienced attorneys and professionals with a physical office in New York City. Like many law firms, Goldstein Hall seeks a broad and affordable professional liability insurance policy to protect against malpractice claims. The firm continually seeks to exceed their clients’ expectations through skilled, creative legal representation. They require a similar level of creativity and a customer-centric approach in their commercial insurance experience.

The Journey

Goldstein Hall outgrew their local brokerage’s capabilities
Community focused, Goldstein Hall originally awarded their business to a local brokerage. Over time, the firm became frustrated with the local broker’s underwhelming service. They provided a limited number of alternative quotes when renewing their current coverages—failing to provide a proactive approach to managing their insurance. Goldstein Hall wanted a better way.
Goldstein Hall bet on Embroker’s expertise to update their Professional Liability
An Embroker professional reached out to offer a proposal for Goldstein Hall. During an initial low-pressure conversation, it was evident to Goldstein Hall that Embroker could provide the requisite level of service and represent quotes from the entire carrier marketplace, all while meeting the firm’s deadline.  A key Embroker differentiator solidified their decision—Embroker’s technology automatically completed their application, saving the firm hours of work. The combination was substantial enough that Goldstein Hall awarded Embroker the Broker of Record for all Professional Liability carriers except the incumbent.

The Results

Goldstein Hall reduced their premium per attorney by 28% without touching a paper application
Embroker reached out to multiple insurance carriers for a quote on professional liability policies to give Goldstein Hall a feel for the market. By working with a different insurance carrier, the firm reduced their premiums by $8k and cut their rate-per-attorney by 28% from the previous year. Not only did the firm save money, but they also saved time by leveraging Embroker to fill out their applications. No more paper applications for this firm, and Goldstein Hall now has a far easier way of purchasing insurance.
Now that you have a better understanding of how Embroker helps law firms get insured intelligently, you may be wondering what we can do for your business and where to go from here. If you need more help or information, you can reach out to our team of expert brokers. Or, if you prefer to get started on intelligent quotes, create your Embroker account today.

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