L Squared Insurance Agency Blog: professional liability
View the latest blog posts from L Squared Insurance Agency.
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 >>
Wednesday, September 20, 2023 SEPTEMBER 28 @ 1 PM REGISTER HERE SESSION 10: Tips on How to Manage Professional Liability Risk Beyond the Engagement Letter (1 CPE) Presenter: Joe Jones, Esq., AIA | Director of Risk Management Travelers Insurance and Neil Bermingham | Managing Director, Travelers Insurance READ MORE >>
Friday, February 24, 2023 Underwriters often require Insurance carrier loss runs when a firm has claims, disciplinary activity, or insurance coverage non-renewed or rescinded. Underwriters may require loss runs prior to providing a quote and/or binding coverage. READ MORE >>
Thursday, May 12, 2022The job of a financial consultant or adviser is to provide recommendations. Financial advisors tell clients how to better their portfolios. These clients count on your advice. They expect it to improve their lives. They expect you to have knowledge backed by facts. When you make a mistake, it can cost your business bigtime. READ MORE >>
Tuesday, June 1, 2021When you buy a liability insurance policy for your business, you are protecting yourself in case you make mistakes that harm others. Because these mistakes might be your fault, you could have a legal responsibility to repay those affected by the problem. Liability insurance is the coverage that helps you do so. READ MORE >>
Tuesday, March 26, 2019 Protecting the ‘business side of the law’, the firm needs to carry business owners, workers compensation, and cyber insurance. But these commercial insurance policies exclude the ‘practice side of the law’. Claims-made attorney malpractice insurance policies protect the ‘practice side of the law’. READ MORE >>
Tuesday, February 26, 2019 An attorney can do the darnedest things to ensure that they get their claim denied. Attorney Malpractice insurance policies are claims-made and reported policies. Remember insurance policies are contracts. Not understanding your coverage is not a defense for getting a claim denied. READ MORE >>
Monday, February 25, 2019Many an attorney is frustrated when they first breach the subject of using the “free” non-practicing Extended Reporting Period Endorsement (ERP or Tail) with their Attorney Malpractice Agent. If the agent tells them the cold “truth”, it can change the attorney’s plans about how and when to retire. READ MORE >>
Friday, February 22, 2019Unlike 10 to 20 years ago attorney malpractice claims are now a part of life. Today it is a cost of doing business. Being a defendant in a legal malpractice claim is no fun. In addition to the potential cost of an adverse judgement, there is the stress and expense of being away from practicing law to defend yourself. READ MORE >>
Wednesday, February 6, 2019What do you mean that Full Prior Acts might not mean Full Prior Acts. Legal Malpractice Insurance policies are similar but there is no common meaning to the terms. Full Prior Acts is a term that is often misunderstood and changes from insurer to insure as to its meaning. READ MORE >>
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