Periodically we receive requests to add a mortgagee to a legal malpractice policy. This occurs when a law firm lender requests a certificate of insurance for a loan that is being renewed or procured. The law firm gives our insurance agency name and e-mail so...
Legal Malpractice Insurance Cost You Pay Two attorneys are comparing the cost of their legal malpractice insurance for their law practices. One attorney is dismayed because their law firm insurance policy is twice the cost of the other law firm. Given that the firms...
There is no standard attorney malpractice policy definitions wording. But the definitions wording is similar from policy to policy. But minor policy wording differences can be the difference between having coverage or paying for the claim out of your own...
The 1st year policy inception date establishes the claims-made prior acts date. This date should be maintained from renewal to renewal. Even if the insured firm switches insurers maintain the prior acts date. Attorney malpractice insurance uses a claims-made policy...
Step Rating is not defined in legal malpractice policies. Step rating is the major premium increase cause in the first one to five years of continuous claims-made insurance coverage.With claims-made coverage the only policy that you can report a claim to is the...
