L Squared Insurance Agency Blog: attorney malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Monday, May 9, 2016 Lawyers that choose to go without malpractice insurance believe that because they work for a small firm and maintain close relationships with their regular clients, that they are immune to claims. Other attorneys believe that the chances of them facing a claim aren’t great enough for them to purchase a lawyers liability malpractice insurance policy. READ MORE >>
Tuesday, April 12, 2016Question: I am told my Lawyers Professional Liability Insurance Policy has a “Hammer Clause”—what is a “Hammer Clause”? Response: There is no Lawyers Professional Liability policy that actually states or has a defined term for a “Hammer Clause”. READ MORE >>
Sunday, April 10, 2016Many attorneys are upset when they find out that suing clients for unpaid legal fees can cause their lawyers malpractice insurance premiums to increase. In fact, with many admitted Lawyers Professional Liability Insurance carriers as few as 5 suits in READ MORE >>
Friday, April 8, 2016A Lawyers Liability Policy is a “claims made” insurance policy. Once coverage ceases, so does your coverage for your past acts. This is unlike an “occurrence” policy, such as a Business Owners Policy, where if you let the coverage lapse for a few days and start... READ MORE >>
Thursday, April 7, 2016Lawyers Professional Liability Policies are “claims made” policies. Meaning that the covered act claim must be reported (claim made) during the policy period or during the extension of the reporting period. READ MORE >>
Thursday, March 31, 2016Question from Client: Is this Lawyers Professional Liability Insurance Policy Extended Reporting Period Endorsement (Tail) Full Prior Acts? Response: Many people think that there is a separate policy issued once “Tail” is purchased on a Lawyers Professional Liability Insurance Policy. READ MORE >>
Tuesday, March 22, 2016Awarded attorney’s fees normally are not covered under a Lawyers Professional Liability Insurance policy. Included under this category of damages are also civil or criminal fines, sanctions, or penalties ordered by a court or other administrative body. READ MORE >>
Monday, March 21, 2016It is not possible to write a new policy to cover a suspended attorney with a Lawyers Professional Liability Insurance policy. Most policies have an outright exclusion for a suspended attorney. Although some Lawyer Professional Liability Insurance Carriers will permit the covera... READ MORE >>
Friday, March 18, 2016Law firms designate the completion on the Lawyers Professional Liability application to many different people. This varies from the Managing Partner to the beginning associate or newest clerk in the office. READ MORE >>
Wednesday, March 16, 2016Question from Attorney: I am a full time employee at a large company. I do an occasional will or trust on the side. Probably less than 5,000 a year in revenue. Is there a minimal coverage for that? Should I get coverage for when i did have a practice? I sold it in December 2014. READ MORE >>
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