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L Squared Insurance Agency Blog

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Avoid flying into a mountain.  One of the more preventable attorney malpractice claims is a statute of limitations claim.  Initial steps at client intake can help avoid or minimize your risk of being sued. First determine if the firm is bumping up against statutes of limitation issues. READ MORE >>

If you receive a subpoena for information or to testify take a deep breath and then notify your malpractice insurer.  Even though this is a benefit in many policies it is a 2-edge sword.  Responding to the subpoena without notifying your insurer could down the road lead to a malpractice claim’s denial for prior knowledge. READ MORE >>

Many law firms do not answer this attorney malpractice application question correctly.  Basically, the insurer wants to know what you did last year.  Emphasis on the ‘last’ year.     READ MORE >>

Occasionally we get a client that attempts to bind the insurer to a contract that the insured firm has signed in hopes that the insurer will be bound to that contract. This is where the Contractual Liability Concept comes into play.  Basically, an insured cannot bind an insurer to the terms of a 3rd party contract. READ MORE >>

When an accounting firm receives a subpoena for information, it is important that the firm follows the law.  It needs to make sure that it responds appropriately to the subpoena and protects itself as well as their client’s rights. READ MORE >>

With some frequency professionals cite claims-made coverage that they had in the past as their current coverage.  Many seem to think that if the act occurred while coverage was previously inforce they still have coverage for that claim even if it was never reported to the insurer. READ MORE >>

In 2003, the Soldiers and Sailors Civil Relief Act was rewritten, and the name changed to Servicemembers Civil Relief Act.  Basically the act applies to any service members including reservists and National Guard members that are called to active duty. READ MORE >>

Hiscox is a leading provider of Cyber Insurance worldwide.  This is their 3rd Cyber Report, which can give an interesting perspective in trends from prior years.  The number of firms reporting a cyber-attack has increased from 45% in 2018 to 61% in the 2019 report. READ MORE >>

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