L Squared Insurance Agency Blog Page 37
View the latest blog posts from L Squared Insurance Agency.
Monday, November 14, 2022 A law firm may attempt to bind an insurer to a 3rd party contract. The insured law firm’s client contract with the law firm may require certain language in the insured law firm’s insurance policy that is not there. The insured firm hopes that the insurer will be bound to that contract. READ MORE >>
Friday, November 11, 2022 An attorney malpractice insurance policy excludes coverage for Bodily Injury/Property Damage. Law firms needing these coverages should obtain a Business Owners Policy (BOP) or a Commercial Auto Insurance policy. Attorney malpractice insurance policy do cover personal injury. READ MORE >>
Friday, November 11, 2022 Through tough times law firms stick together and work things out. But when things go bad in a law firm between attorneys, they can really go bad. Once communication breaks down it leads to more drastic action. Attorneys suddenly find law office locks changed, access to client files restricted, and the access to computer systems denied. READ MORE >>
Thursday, November 10, 2022 Closely held entity exclusions are frequently overlooked on Attorney Malpractice Insurance Policies. Every attorney malpractice insurance policy has restrictions/exclusions for this issue. It is common for insurers to have a supplement to list the firm ‘clients’ that an attorney has an equity interest in. READ MORE >>
Thursday, November 10, 2022 Attorney Malpractice Insurance policies exclude coverage for attorneys acting as a director or officer of a client organization. Attorneys need to be careful when asked to sit on a client’s board or become an officer of a client organization not to jeopardize malpractice coverage. READ MORE >>
Wednesday, November 9, 2022Every business owner knows that there are insurance policies designed to protect a business’s physical property from theft or severe weather damage. But what about injuries or damages suffered by third parties as a direct result of a business’s actions? READ MORE >>
Tuesday, November 8, 2022 Firms and insurance agents forget to add Hired/Non-owned audit endorsement when writing a Business Owners Policy (BOP) or Commercial Auto Policy. This can be a costly omission. Even if the only thing a firm employee does is take money to the bank using the employee’s car, you need the Hired/Non-owned auto endorsement. READ MORE >>
Tuesday, November 8, 2022 I Have Competence Remember when Julie Andrews sang and danced her way from the Abbey to the Von Trapp family home? With her determination growing, she merrily sang: So let them bring on all their problems I'll do better than my best I have confidence They'll put me to the test But I'll make them see READ MORE >>
Monday, November 7, 2022 It is not a question of ‘if’ but a question of ‘when.’ the hack will occur. Ignoring warning signs risks disruptions, loss of information and potential liabilities. Cyber criminals look for weaknesses and pounce. 1. READ MORE >>
Thursday, November 3, 2022 Attorneys assist clients by helping them plan for the future, including death and disability. Yet many attorneys never plan for the possibility that the unthinkable may happen to them. In the event of an attorney’s disability or death, the consequences can be devastating, not only for the attorney’s family, but also for the firm’s employees and clients. READ MORE >>
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