Call Us 866.940.1101 ☰ ˟
866.940.1101
Logo
  • Home
  • About Us
    • About Us
    • Employee Directory
    • Partners Page
    • Event Calendar
    • Refer a Friend
  • Get A Quote
  • Products
    • Lawyers Malpractice Insurance
    • Professional Liability Coverage For Attorneys
    • Accountants Professional Liability
    • Dentist Malpractice Insurance
    • Business Owners Policy
    • Cyber Liability Insurance
    • Workers Compensation Insurance
    • Title Agents E&O Insurance
    • Paralegal Malpractice Insurance
  • Testimonials
  • Common Terms
    • Common Terms
    • Frequently Asked Questions
  • Blog
  • Contact
  • Areas We Serve
    • Grand Rapids, MI
    • Detroit, MI
    • Lansing, MI
    • Kalamazoo, MI
Home > Blog > Attorney Malpractice Insurance Policy – Who is covered and for what
MONDAY, AUGUST 8, 2016

Attorney Malpractice Insurance Policy – Who is covered and for what

Who is CoveredOnce you have made sure that all of the entities that should be covered are covered, you understand the insuring agreement, and the policy exclusions, there is one more important step.  You now know some of the What or in the case of the policy exclusions, what not; Where; and When; but you still need the Who and the rest of the What.  So who in your law firm is covered by the lawyers professional liability insurance and for what acts.  It is very important to look that the policy definition section.  Key terms for this in the definition section are:

1.       What does Insured mean

2.       What does Named Insured mean

3.       What constituents a Law Firm or Organization

4.       What is a Predecessor Firm and what is not

5.       What are the legal services covered

6.       What is a Claim

7.       What are considered Claims Expenses

8.       What are considered or not considered Damages

9.       What is considered a Disciplinary Issue  or what is not

 

Notice that this blog does not attempt to define these terms.  Many people have their own meaning for these terms, but if they are defined in the policy, it does not matter what you think you know.  What matters is how these terms are defined in this policy.    Remember, there is no standard Attorney Malpractice policy.  Even though the terms used in one policy might be the same as what is used in another policy, the definitions of what they really mean can be very different between policies. 

Your agent, might state in good faith what is covered in one policy is covered in another for a specific item, but only the law firm knows their practice and clients.   A harmless term for one law firm may be cause coverage to be excluded for another firm. 

The old axioms, “buyers beware” and “the devil is in the details” certainly applies to a professional liability insurance policy. 

Posted 8:18 PM

Tags: legal liability, attorney malpractice insurance, lawyers professional liability insurance, attorney malpractice, who is covered
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2013
  • 2011

  • lawyers professional liability insurance(429)
  • attorney malpractice insurance(348)
  • attorney malpractice(330)
  • legal malpractice(223)
  • legal liability(134)
  • cyber insurance(94)
  • data breach(92)
  • ethics(87)
  • erp(56)
  • malpractice insurance(49)
  • claims(39)
  • title agency e&o(36)
  • accountant e&o(34)
  • extended reporting period endorsement(30)
  • tail(29)
  • phishing(25)
  • claims made coverage(20)
  • extended reporting period(20)
  • prior acts(19)
  • legal malpractice insurance(18)
  • cyber liability(18)
  • cyber security(17)
  • accountant errors & omissions(17)
  • claims reporting(17)
  • ransomware(16)
  • claim prevention(16)
  • crime insurance(15)
  • attorney protective cle(14)
  • the hartford weekly newsletter(14)
  • mcgowan webinar series for cpas 2021(12)
  • professional liability insurance(12)
  • attorney protective cle webinar(12)
  • business owners insurance(11)
  • legal liability insurance(11)
  • fee suits(10)
  • retirement tail(10)
  • full prior acts(10)
  • bop(9)
  • title agent errors & omissions(9)
  • cyber crime(9)
  • accountant errors & omissions insurance(9)
  • prior acts date(8)
  • webinar(8)
  • non-practicing erp(8)
  • cyber liability insurance(8)
  • lawyers(8)
  • claims made(8)
  • employment practices liability(7)
  • attorney protective 2019 free cle webinar(7)
  • non-practicing extended reporting period endorsement(7)

View Mobile Version
Logo
Quick Links
Home Our Products Customer Service Payment Options Common Terms
About Us Refer A Friend Our Carriers Blog Contact Us
Location
2430 Camelot Ct SE
Grand Rapids, MI 49546

Local: 616.940.1101
Toll Free: 866.940.1101
Email: info@L2ins.com
Facebook Twitter Social LinkedIn
© Copyright. All rights reserved.
Powered by Insurance Website Builder