Fraudulent Acts Covered by Professional Liability Insurance?

One of the exclusions under a lawyers professional liability policy applies to any claim arising out of any dishonest, fraudulent, criminal, or malicious act or omission of any insured or employee of any insured. If an individual makes a claim against our insured based on allegations of fraudulent conduct by the insured, doesn't the exclusion prevent coverage?

It seems to us that this is so, but then, what type of coverage is available to the insured? We think claims of fraud against an attorney would be commonplace and that a professional liability policy should be in place to address such claims, but if the exclusion prevents coverage, how do we protect our insureds?