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View the latest blog posts from L Squared Insurance Agency.
Monday, April 8, 2024 We rely on emails for daily operations to communicate with clients, staff, vendors, friends, family, and regulators. Email is also one of the most prevalent means that cyber-criminals target for a variety of purposes, from obtaining sensitive information from the recipient to using it to establish a foothold to gain broader network access. READ MORE >>
Wednesday, April 3, 2024 Hint to help deter cyber criminals The Cybersecurity and Infrastructure Security Agency (CISA) recommends Multi-Factor Authentication (MFA). There are cyber attacks in the news all the time, but there’s one trick that helps to make your accounts difficult to breach, called multi-factor authentication, or MFA. READ MORE >>
Monday, April 1, 2024 The first question often asked is how much does attorney malpractice coverage cost? Don’t get me wrong, it is smart to price compare different attorney malpractice insurers. Just looking at the cost and not comparing coverage may mean paying for insurance that does not properly cover your law firm. READ MORE >>
Thursday, March 28, 2024 Do you ever collect fees in advance for work to be performed in the future? Do you tell your clients these funds are nonrefundable? What do you call this payment – a retainer, an advance, a paid-in-full fee? Where do you deposit these funds? READ MORE >>
Wednesday, March 27, 2024 A Cyber-Criminal need not break into a law firm’s email system to make the law firm the next data-breach victim. Any time funds change hands electronically there are multiple parties to the transaction. Cyber security is only as strong as the weakest link. READ MORE >>
Tuesday, March 26, 2024 Cybercrime is one of the fastest-growing types of crime in the United States. Microsoft reports that password attacks have increased tenfold in the past year, with nearly 4000 attacks per second. Cyberattacks are growing not just in number but also in sophistication. READ MORE >>
Monday, March 25, 2024 A claims-made insurance error policy may have a Firm Prior Acts Date, an Individual Prior Acts Date, a Career Coverage Prior Acts Date and/or Predecessor Firm Prior Acts Date or a combination for the former. Different prior acts endorsements address specific coverage needs: 1. READ MORE >>
Friday, March 22, 2024 A little discussed issue is the remaining Extended Reporting Period (ERP or Tail) aggregate policy limit being depleted (Burning the Limit). An ERP is attached to the last inforce policy. The ERP endorsement does not change the terms of the policy or reinstate policy liability limits used during policy term. READ MORE >>
Thursday, March 21, 2024 Attorney malpractice insurance uses a claims-made policy form. This is an important concept when considering reducing coverage limits. Unlike an occurrence policy form where the policy form used to settle a claim is when the act occurred. READ MORE >>
Wednesday, March 20, 2024 Question from Attorney: I am still looking at alternatives for renewing my Lawyers Liability coverage and cannot get firm terms until I get Insurance Carrier Loss runs from my incumbent insurer. If I am a “few” days late renewing coverage is that going to be a problem? READ MORE >>
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