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L Squared Insurance Agency Blog: attorney malpractice

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Waiting 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 >>

Year-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 >>

Michigan 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 >>

Small 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 >>

The 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 >>

Suing a client for unpaid legal fees is usually a bad idea.  Yes an attorney can wait till after the statute has run, and yes this may prevent a counter claim or at least provide a defense.  But it will not prevent a bar complaint from being filed and if done frequently it impacts your attorney malpractice premiums. READ MORE >>

An attorney’s private life involves the daily stuff that everyone deals with.  This includes buying and selling houses and cars; running other businesses; getting into disputes; car accidents; and having loved ones in the hospital.  Attorneys sometimes try to help their cause by at times by reminding the other party that they are an attorney. READ MORE >>

Attorneys that are forming new practices, either for the 1st time as a new in practice attorney or coming from a larger firm often confront application questions that do not make sense.  Malpractice Insurance Applications are retrospective questionnaires. READ MORE >>

Attorney Malpractice Insurance policies are not “All Risk” insurance contracts.  It is important to know what is covered in your policy.  Unfortunately, I normally get this question after the attorney is either threatened with sanctions or sanctions have been awarded: From Attorney READ MORE >>

A common administrative error that causes many attorney malpractice claims involves statute of limitations issues.  By one estimate at least 1 in 5 attorney malpractice claims involves a statute of limitations being missed.  While determining the statute of limitation in a given state is relatively easy. READ MORE >>

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