L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Thursday, April 28, 2022Attorneys can easily misunderstand what is and is not covered when a firm has an ‘Of Counsel’ attorney working for them. Attorneys continue to construct ‘creative’ relationships for attorney malpractice coverage under this mistaken belief. Believing something versus having coverage are two different things. READ MORE >>
Tuesday, December 28, 2021 You are happy about saving money with your replacement coverage. But checking these items could save you even more money in the future: 1. Check the named insured and who is insured. 2. Make sure the effective date of the replacement policy matches the expiration date of your current coverage. READ MORE >>
Thursday, September 30, 2021The best attorney in the world can end up with a Legal Malpractice claim by taking the wrong client. As an attorney you may represent people that have done horrible things. You may not approve of what they did, but that does not mean they are a bad client. Your job is not to be a moral compass. READ MORE >>
Wednesday, September 29, 2021As law firms evolve so should their insurance coverage. Not every malpractice insurance policy is a good fit for every firm. The proper firm coverage needed 3 years ago, may not be the coverage that the firm needs today. Neglecting a periodic review of your firm’s insurance needs can be costly. READ MORE >>
Monday, September 20, 2021Without proper attention during the dissolving and forming of law firms with legal malpractice claims-made insurance policies can cost coverage. Understand the need for making sure that past acts are covered. While purchasing an extended reporting period endorsement (ERP) can be costly, it is often the best way for covering an attorney’s past acts. READ MORE >>
Monday, August 9, 2021For an attorney malpractice policy to cover a cyber claim it must cause a 3rd party covered client lost for attorney malpractice. Even when it triggers the malpractice policy, the policy likely will only cover a portion of the claim that deals with monetary damages to the client. READ MORE >>
Thursday, July 29, 2021When client expectations differ from the result it’s not uncommon for a client to sue and/or allege attorney malpractice. Beginning with the initial client intake explain the legal services provided and never leave the provided services open to interpretation. READ MORE >>
Wednesday, July 28, 2021It would be nice to tell you that great client selection prevents a client from hell. Unfortunately, there is no guarantee that even when you decline to represent the prospective client you will not be sued. The claimant might be the opposing litigant. READ MORE >>
Tuesday, July 27, 2021A small law firm partnership can be like a marriage. Through good and bad times many partnerships stick together and work things out. But when things go bad in a law firm between attorneys, they can really go bad. Once communication breaks down it can lead to more drastic actions. READ MORE >>
Monday, July 26, 2021When essential information is not provided, the quoting agent assumes. Remember it is not just the quoted premium. Coverages do matter. No one wants a quote with the wrong insurance coverages. The attorney malpractice application is essential for underwriting and quoting a law firm but the declarations page with the policy endorsements provides the rest of the story. READ MORE >>
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