L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Friday, May 15, 2020This continues to be a frequently asked question. As law firms discover that their businessowners policy (BOP) has exclusions for viruses or it is not a defined covered loss, they are realizing that the BOP will not provide any business interruption coverage. Attorneys are now reading their malpractice policies. READ MORE >>
Tuesday, April 21, 2020When the economy declines, attorney malpractice claims rise. Following every recession when people lose money, they look for someone to blame. Mistakes in paperwork or an error in judgement is not a problem when there is no economic loss. With an economic loss, even when there is no legal malpractice, does not prevent claims from being filed. READ MORE >>
Wednesday, January 29, 2020Professional Solutions Insurance Company (PSIC) wrote their Attorney Malpractice Insurance using the program name Attorney Shield. Carolina Casualty Insurance Company (CCIC) purchased the book of business and for renewals starting with effective dates on or after 1/1/2020, are offering renewal terms. READ MORE >>
Friday, January 24, 2020 With Professional Solutions Insurance Company (PSIC) dropping Lawyer s Professional Liability Insurance what happens to the “Free” Retirement Tail? If PSIC has issued the non-practicing extended reporting period endorsement (ERP) attached to your policy, then you have nothing to worry about. READ MORE >>
Wednesday, January 22, 2020Received a non-renewal notice that Professional Solutions Insurance Company (PSIC) Attorney Shield is getting out of Attorney Malpractice Insurance, now what? L Squared Insurance Agency was one of the larger writers of PSIC Attorney Shield Malpractice Insurance. In fact, we were one of the 1st agencies to write for them. READ MORE >>
Wednesday, December 18, 2019Waiting till the last minute to buy your Christmas gifts might save you money. But waiting till the last minute to renew your attorney malpractice insurance likely will cost you money. Unlike many other types of insurance, malpractice Insurance cannot be bound without the malpractice insurer’s specific application. READ MORE >>
Wednesday, December 4, 2019Year-end is the time that many law firms split up and one of the questions is what’s the cost for attorney malpractice insurance tail coverage or an extended reporting period endorsement (ERP). This question came from an email from a law firm that was planning on splitting up at year-end. READ MORE >>
Thursday, November 21, 2019Michigan is joining the many states that allow the sale of recreational marijuana. Lawyers are busy getting these businesses up and running. A frequent question from lawyers is: “Will my malpractice policy cover me for this work?”. READ MORE >>
Wednesday, August 21, 2019Small firm attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with their clients makes them immune to claims. Other attorneys believe that the chances of facing a claim are low. The logic flaw is that small firm attorneys are just as likely to have a malpractice claim as their more high-profile peers. READ MORE >>
Friday, August 16, 2019The Alaskan case of ALPS v Ingaldson Fitzgerald PC is an example of the courts refusing to force an insurer to cover attorney’s fees. Awarded attorney’s fees normally are not covered under an attorney malpractice insurance policy. READ MORE >>
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