L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Thursday, July 25, 2024 Ordinarily when we as lawyers prepare for retirement, we make meticulous plans regarding how best to wind down our practices and transfer our existing matters so that our clients have as seamless a transition as possible. However, when it comes to more unforeseen events like death and disability, few of us have comprehensive contingency plans. READ MORE >>
Wednesday, July 24, 2024
A common thread that we found among many of these claims were mistakes committed by older attorneys that were still relying on older calendaring methods. Many of these firms have been around for such a long time, it seems that they have not seen the need to update their systems in... READ MORE >>
Monday, July 22, 2024 Attorney Malpractice Insurers offer a variety of different deductible options. The deductible options work with the deductible amount to help balance the exposure you are willing to take should a claim arise. Deductible options can be in the policy body or added as an endorsement for an additional charge. READ MORE >>
Tuesday, May 14, 2024 Attorney malpractice insurance is an absolute necessity. But not all law firms are getting the best value for their money. The attorney malpractice application is the single most important document insurers use to calculate a law practice’s insurance premium. READ MORE >>
Wednesday, April 24, 2024 Saying that client fee suits are a leading malpractice claims cause might be a little misleading. Underlying reasons for the payment issues may be the cause. Studies suggest that client fee suits cause 33% of the malpractice claims. READ MORE >>
Thursday, April 11, 2024 There are certain attorney malpractice insurance policies carrying large liability limits and large deductibles that allow larger law firms to manage certain claims below their retention (deductible). For the other 99% of law firms this is not the case. READ MORE >>
Monday, April 1, 2024 The first question often asked is how much does attorney malpractice coverage cost? Don’t get me wrong, it is smart to price compare different attorney malpractice insurers. Just looking at the cost and not comparing coverage may mean paying for insurance that does not properly cover your law firm. READ MORE >>
Friday, March 22, 2024 A little discussed issue is the remaining Extended Reporting Period (ERP or Tail) aggregate policy limit being depleted (Burning the Limit). An ERP is attached to the last inforce policy. The ERP endorsement does not change the terms of the policy or reinstate policy liability limits used during policy term. READ MORE >>
Thursday, March 21, 2024 Attorney malpractice insurance uses a claims-made policy form. This is an important concept when considering reducing coverage limits. Unlike an occurrence policy form where the policy form used to settle a claim is when the act occurred. READ MORE >>
Monday, March 11, 2024 Careful planning by an attorney may save the attorney thousands of premium dollars when contemplating retirement (leaving private practice). Not all insurers offer a retirement tail (ERP or Extended Reporting Period Endorsement). Purchasing the same coverage may cost over 3 times the expiring premium. READ MORE >>
|
Blog Archive
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2013
2011
|
|