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
    • Accountants Professional Liability
    • Dentist Malpractice Insurance
    • Business Owners Policy
    • Cyber Liability Insurance
    • Workers Compensation Insurance
    • Title Agents E&O Insurance
  • Testimonials
  • Common Terms
    • Common Terms
    • Frequently Asked Questions
  • Blog
  • Contact
Home > Blog > Attorney Malpractice—What’s In a Name? Be Careful Cheaper is not Always Better
FRIDAY, JANUARY 5, 2018

Attorney Malpractice—What’s In a Name? Be Careful Cheaper is not Always Better

Attorney Malpractice Policy

This is an important question if you expect your malpractice insurer to pay your malpractice claim.  Not properly insuring the attorneys can cause a claim denial.  Lawyers Professional Liability Insurance policies are normally written to cover the Law Firm.  By extension all of the attorneys and employees that work for the firm past and present are covered for covered work they have done on behalf of the ‘named insured’ firm. 

But now for the catch.

Axis Insurance also provides insurance coverage for part time attorneys and attaches the following part time attorney endorsement to give the firm part time rates.

“PART-TIME ATTORNEY ENDORSEMENT

Solely with respect to policies issued to a named insured who qualifies as a sole practitioner, it is agreed that the definition of you is deleted in its entirety and is replaced by the following:

You means:

a.   the named insured;

b.   any non-lawyer employee who was, is, or becomes an employee of the named insured, but only while acting within the scope of employment on behalf of the named insured at the time of such employment.

All other provisions of the Policy remain unchanged.”

 

According to AXIS, this endorsement modifies the policy to only include work done by the named attorney.  AXIS provides a significant discount for this endorsement.  But if the attorney is using any other attorneys as an ‘Independent Contractor’ or ‘Of Counsel’ there is no coverage under this policy for that work.

Better yet, if that policy’s prior acts had covered other employed attorneys, partners in the past, once this endorsement is attached to the policy, that prior acts coverage is now gone.

This is just one example how coverage can be dramatically different, even from the same insurance carrier.  All attorney malpractice policies have slightly different wording.  And the endorsements do matter.   What may be appropriate for one insured law firm is not necessary appropriate for another law firm.

Posted 5:23 PM

Tags: legal malpractice, named insured, attorney malpractice, lawyers professional liability
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
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2013
  • 2011

  • lawyers professional liability insurance(429)
  • attorney malpractice insurance(329)
  • attorney malpractice(319)
  • legal malpractice(223)
  • legal liability(134)
  • data breach(92)
  • cyber insurance(90)
  • ethics(87)
  • erp(53)
  • malpractice insurance(46)
  • claims(39)
  • title agency e&o(36)
  • accountant e&o(34)
  • extended reporting period endorsement(29)
  • tail(26)
  • phishing(25)
  • claims made coverage(19)
  • extended reporting period(18)
  • accountant errors & omissions(17)
  • claims reporting(17)
  • prior acts(17)
  • cyber security(16)
  • legal malpractice insurance(16)
  • cyber liability(16)
  • ransomware(16)
  • claim prevention(16)
  • crime insurance(15)
  • attorney protective cle(14)
  • the hartford weekly newsletter(14)
  • professional liability insurance(12)
  • business owners insurance(11)
  • legal liability insurance(11)
  • retirement tail(10)
  • full prior acts(10)
  • fee suits(9)
  • 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)
  • malpractice claims(7)
  • policy exclusions(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