L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Wednesday, February 24, 2021Question from Attorney: I am still looking at alternatives for renewing my attorney malpractice coverage and cannot get firm terms until I get Insurance Carrier Loss runs from my incumbent insurer. If I am a “few” days late renewing coverage is that going to be a problem? READ MORE >>
Tuesday, February 23, 2021“My Friend does the same thing I do but is paying half what I pay for Attorney Malpractice Insurance.” This often asked question only comes from the attorney that may be paying more than his friend. I say, ‘may be’, because occasionally they are both paying the same premium. READ MORE >>
Tuesday, February 9, 2021We cannot repeat this statement enough. There is no standard attorney malpractice policy. While the definitions wording is similar from policy to policy, minor policy wording differences can be the difference between having coverage or paying for the claim out of your own pocket. READ MORE >>
Thursday, February 4, 2021Because attorney malpractice insurance is written on a claims-made policy form, the prior acts date is important to determine if there is coverage for an act that may have occurred many years ago. To determine if the claims made policy covers the loss, the claims department checks: 1. READ MORE >>
Tuesday, January 26, 2021Attorney Malpractice Insurance policies have exclusions for outside interests in other businesses that may or may not be a firm client. Attorneys need to be careful of this policy wording as every insurer’s malpractice policy can differ. READ MORE >>
Friday, January 22, 2021The Law Firm’s office gives our insurance agency name and e-mail so that the lender can contact us to add a certificate for a mortgagee to an attorney malpractice insurance policy. While we are more than happy to do this for a law firm’s business owner’s policy (BOP), we decline when it is specifically for the malpractice insurance. READ MORE >>
Wednesday, January 20, 2021Attorney Malpractice Insurance provides protection for an attorney’s assets. A malpractice judgement might not only impact current assets but future earnings. In our current litigious world, it is rare that an attorney goes through their entire career without a claim made against them and in trouble times, claim frequency rises. READ MORE >>
Wednesday, January 13, 2021For property insurance not reporting small claims makes sense. With a property claim generally you know with great certainty the amount of damages quickly. If the property claim is below or right around your property claims deductible, then handle the claim. READ MORE >>
Tuesday, November 17, 2020We continue to post on avoiding fee disputes with clients. Why, because it is a leading cause of attorney malpractice claims. Avoid fee disputes by explaining the fee arrangement in great detail during the first meeting. Confirm this understanding in writing and have the client agree by signing the agreement. READ MORE >>
Monday, November 16, 2020To save money L Squared is occasionally asked if we will allow a law firm to renew their Attorney Malpractice Insurance Policy without prior acts coverage. In some cases, the firm only carries the malpractice insurance to meet the state requirements or requirements of a referral service. READ MORE >>
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