L Squared Insurance Agency Blog Page 11
View the latest blog posts from L Squared Insurance Agency.
Wednesday, October 21, 2020 New Simplified Application & Quoting Process FOR THE SMALL ACCOUNTING FIRM Accounting firms face potential exposures every day, just by doing business. With risks to your business and financial security everywhere, Travelers Errors & Omissions (E&O) coverage accounts for the unexpected. READ MORE >>
Wednesday, October 21, 2020There are no standard policy forms for Attorney Malpractice Insurance policies. Even though the policy wording is different, they cover similar risks and exposures. But the devil is in the details. A perfect example is the definition of Insured. READ MORE >>
Tuesday, October 20, 2020 There is no Acord standard policy wording for an Attorney Malpractice Insurance Policy. With that said a common exclusion is for awarded attorney’s fees. Attorney’s fees can run in the hundreds of thousands of dollars which can be a significant surprise if the firm is not aware of this policy exclusion. READ MORE >>
Monday, October 19, 2020 Step Rating is not defined in an attorney malpractice policy. But at inception of your 1st policy, it is the major reason that your premium will increase and continue to go up for the first few years. Attorney Malpractice Insurance policies are written ‘claims-made’ policy form. READ MORE >>
Friday, October 16, 2020Law firms often pay their attorney malpractice insurance in installments by financing with a premium finance company or direct bill payments through the insurer. These are good ways to manage cash flow. Problems happen though when a law firm allows their attorney malpractice insurance to cancel for premium nonpayment. READ MORE >>
Thursday, October 15, 2020
RANSOMWARE
The Impact of an Attack
According to the 2020 Travelers Risk Index, businesses of all sizes report that becoming a victim of cyber extortion or ransomware is a top concern. Aggressive ransomware attackers dig deep into victim networks to gain access to critical systems and data, ... READ MORE >>
Thursday, October 15, 2020As a law firm’s practice evolves through the years, so may its insurance needs. Changes in a firm’s practice areas and clients might require different liability insurance limits than the firm required in the past. Raising policy limits to meet a law firms needs causes no coverage issues. READ MORE >>
Tuesday, October 13, 2020 2020 Webinar Series for Legal Professionals A Risk Management Resource for Legal Professionals What to Expect and How to Manage a Claim of Legal Malpractice October 21, 2020, 1 – 2pm Eastern Moderator: Bob Bradish, Lawyers Professional Liability, Travelers READ MORE >>
Tuesday, October 13, 2020Moving a law practice to a different state opens an exciting new chapter in life. Make sure to add insurance to your moving checklist. As with the practice of law, property and casualty insurance is regulated by each state. Insurers and insurance policies can differ by state. READ MORE >>
Friday, October 9, 2020Attorney Malpractice Insurers cap their loss exposure by limiting the liability limits for a given law firm. This is especially true for smaller law firms. For instance, if a solo practitioner pays $3000 for a $2million policy and has a ‘limits’ loss it takes hundreds of other firms without any losses just to break even. READ MORE >>
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