L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Thursday, September 3, 2020Attorneys back-up their computers without complaint, but a few have a real problem with having a backup attorney. Kind of like wearing a mask these days, it is for your own protection. Malpractice insurer’s view backup attorneys for a solo practitioner as essential to help mitigate preventable legal malpractice exposures. READ MORE >>
Wednesday, August 26, 2020Excerpt from the August 26, 2020 Attorney Protective Webinar of Top Ten Tips 1. Be consistent -establish consistent policies and procedures for billing & collection that all attorneys and staff must follow 2. READ MORE >>
Tuesday, August 25, 2020As the Pandemic continues many clients cannot pay all their bills. Legal fees are a lower priority to food and rent. So, suing clients to collect legal fees is likely to become more common place. A note of caution, suing clients for unpaid legal fees can cause your attorney malpractice insurance premiums to increase. READ MORE >>
Wednesday, August 19, 2020The Attorney Malpractice “Automatic’ Extended Reporting Period (60-Day AERP) is not what it seems. More than one attorney has assumed that they have 60 days past expiration to renew or get new coverage because a 60-Day AERP is part of their policy. Nothing could be further from the truth. READ MORE >>
Monday, July 13, 2020The assumption that your attorney malpractice policy will not answer in case of a criminal complaint may be invalid. Surprisingly in the current Wesco attorney malpractice policy defense coverage is found in the ‘exclusion section IV’ for the allegations: A. READ MORE >>
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 >>
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