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L Squared Insurance Agency Blog

View the latest blog posts from L Squared Insurance Agency.

A recent decision by the Tax Court Avrahami  v IRS and Feedback Insurance Co V IRS highlighted that the IRS is now looking more closely at captive insurance companies being used for tax avoidance.  The Avrahamis own 3 jewelry stores and 3 shopping malls in the Phoenix area. READ MORE >>

A recent Better Business Bureau (BBB) study found that half of all small businesses would not be profitable if they lost critical data for more than 30 days.   And while 81% use antivirus software and 76% have a firewall, most are lacking in the most cost effective prevention tool; employee education. READ MORE >>

Normally when someone sues naming every business or government agency with a relationship to a property owner the case gets kicked as a nuisance case.  But the rules change when the landowner being sued is a Colorado marijuana grower by the adjacent land owner in Federal Court under the RICO Act (Racketeer Influenced and Corrupt Organizations Act. READ MORE >>

Attempting to keep our clients informed about the risks of a data breach or cyber-attack we periodically send out reminders to clients that do not have cyber insurance of the need to have cyber insurance.  We also make our clients aware of cyber security webinars when they occur. READ MORE >>

A law firm decided to notify everyone that it was moving by e-mail.  Normally this is an everyday occurrence, unless the sender decides to create a distribution list with a few hundred of its closes friends putting the distribution list in the ‘cc’ e-mail address line and not the ‘bbc’ e-mail address line. READ MORE >>

For those of you looking for another legal specialty, why not space law.  Just think you could be working for Elon Musk or Richard Branson to name a few in a galaxy far far away.  So when the Russian satellite collides with Chinese space junk, you may be able to represent one of the parties in space court in the final frontier. READ MORE >>

AARP has published a list of scams that directly impact veterans:   Benefits Scams Benefits buyout scam: Scammers offer an upfront payment of cash in exchange for a veteran's future disability or pension payments. These buyouts are typically a fraction of the value of the benefit. READ MORE >>

Many law firms hold attorneys that leave the firm responsible for the attorney malpractice claims deductible should a claim be made against the firm for work that the attorney did while at that law firm.  In most cases smaller law firms carry deductibles of $10,000 or less so although this c... READ MORE >>

According the Illinois ARDC in 2016 of the 13,500 solo attorneys practicing law 41% of them did not carry attorney malpractice Insurance.  Except for a handful of states attorney malpractice insurance is not required.   So as shocking as the ARDC Illinois number is to the general public, this is not a surprising number. READ MORE >>

Mr. Grasz was nominated to the US Court of Appeals for the 8th Circuit by President Trump.  His nomination hearing before the Senate Judicial Committee was recently held.  The ABA unanimously rated Mr. Grasz 'Not Qualified'. READ MORE >>

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