L Squared Insurance Agency Blog Page 8
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 29, 2020A solo attorney who currently has a Wesco Attorney Malpractice policy is contemplating merging his practice into another firm and becoming "of counsel" to that firm. The attorney may have a legal matter or two that is not included in the merger and will be maintaining their current LLC. READ MORE >>
Monday, October 26, 2020Your law firm is closing. The firm has maintained attorney malpractice insurance since the firm’s inception. But remember that all attorney malpractice insurance policies sold in the USA are claims-made coverage. When the last policy terminates so does your past acts coverage unless you have an Extended Reporting Period Endorsement attached to the policy. READ MORE >>
Thursday, October 22, 2020 A Message from Patrick Kinney Recognize & Avoid Cyber Threats We regularly see the effects of cyber attacks on individuals and businesses, but we also see the value that preventive measures can have in blocking those attacks. READ MORE >>
Thursday, October 22, 2020 What's at Risk? Cyber During Covid-19 Ransomware Attacks Webinar As you’ve probably heard in the news, cyber-crime is at an all-time high. This is due to criminals exploiting business security vulnerabilities created by remote work environments. READ MORE >>
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 >>
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