Friday, January 27, 2023 Not reporting property insurance small claims makes sense. With a property claim you generally know with great certainty the amount of damages quickly. If the property claim is below or right around your property claims deductible, then handle the claim. READ MORE >>
Thursday, January 26, 2023 Cyber Insurance Coverages to Look For First-party coverages cover you (the insured) for these costs: IT Forensics Determining exactly how a computer system was breached and what data was accessed, viewed, or copied. Notification READ MORE >>
Wednesday, January 25, 2023 Insurers increasing offer pre-claims assistance. This valuable tool is often overlooked. Check with your agent to make sure your insurer has this coverage. When confronted with a situation that might result in a malpractice claim, most lawyers, understandably, do not know what to do. READ MORE >>
Tuesday, January 24, 2023 Attorney malpractice insurance uses a claims-made policy form. This is an important concept when reducing coverage limits. Unlike an occurrence policy form where the policy form used to settle a claim is when the act occurred. READ MORE >>
Tuesday, January 24, 2023 When cyber-attacks hit big businesses, expensive problems can result, but the company may be able to absorb the costs. Small firms are in uncharted territory after a cyber-attack. On average, a cyber-attack can cost them anywhere from $120,000 to $1.24 million. READ MORE >>
Monday, January 23, 2023 You will not find the Hammer Clause anywhere in your policy. The Hammer Clause is slang for forcing a settlement in the Defense, Indemnification, and Cooperation section of your policy. As with other professional errors and omissions policies, the attorney malpractice insurance policies commonly gives the insured the right to tell the insurer whether to settle the claim or not. READ MORE >>
Friday, January 20, 2023 When a two attorney firm splits, the best approach for the firm is to Purchase an Extended Reporting Period Endorsement (ERP/Tail) at the time the split occurs. The ERP is made part of the old firm’s last Attorney Malpractice Policy extending the reporting period for the number of years purchased. READ MORE >>
Thursday, January 19, 2023 What does an ‘Automatic Extended Reporting Period’ (ERP) actually do? For special cases this provision works well but, it normally does not provide any coverage. Firms that think that this provision provides continued coverage for 60 days past the policy expiration date are in for a rude surprise. READ MORE >>
Tuesday, January 17, 2023 Tip 1: Don’t be alone – establishing your network. Tip 2: Backup attorneys – not just for vacation. Tip 3: Establish infrastructure as if it weren’t just you. Tip 4: Follow the calendar. Tip 5: No flying by the seat of your pants – have a real five-year plan. READ MORE >>
Tuesday, January 17, 2023 Cyber in 2023 What cyber risks will define the new year? You don’t need a crystal ball to know some threats, including ransomware attacks, will grow in frequency and severity; or that new digital dangers will emerge, especially in the currently chaotic social media and cryptocurrency scenes. READ MORE >>
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