L Squared Insurance Agency Blog: attorney malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, December 15, 2022 Attorney malpractice policies do not have standard policy forms. It is important for the insured attorney to understand policy coverage or lack of policy coverage. No two policies are exactly alike although similar they are not the same. Good case in point is actually understanding the definitions of the policy. READ MORE >>
Tuesday, December 13, 2022 Attorney malpractice insurance provokes a love/hate relationship with attorneys. Attorneys should know what attorney malpractice insurance coverage they have, when it covers them and when it does not. While getting it as cheaply as possible it is even more important to get the proper coverage. READ MORE >>
Thursday, December 1, 2022 Suspended and/or disbarred attorneys look for malpractice coverage because of cancelled or non-renewed policies. So, it begs the question can a suspended attorney obtain an attorney malpractice insurance policy? Expect a suspension exclusion from insurers. READ MORE >>
Tuesday, November 29, 2022 Attorney malpractice insurance policies cover lawyer professional services. Attorney malpractice insurance policies exclude coverage for attorney provided services requiring a separate license. The ProAssurance policy has an exclusion for these services: READ MORE >>
Tuesday, November 22, 2022 Attorney malpractice insurance policies are meant to insure the attorney’s practice of law. Insurers do not consider giving clients investment advice practicing law. Not all insurers have this exclusion. But if the attorney is giving investment advice there should be a careful reading of the policy. READ MORE >>
Friday, November 18, 2022 Securities law is a highly specialized practice area. Attorneys doing private and public offerings need to be aware that not all insurers cover this exposure. The body of the policy may not have an exclusion such as the following: READ MORE >>
Friday, November 18, 2022 Law firms expecting coverage for Employment Retirement Income Security (ERISA) find policy exclusions instead. The attorney malpractice policy does not cover fiduciary ERSA exposures. This is the typical exclusion section wording: READ MORE >>
Thursday, November 17, 2022 Intellectual Property (IP) is a highly specialized practice area. Intellectual Property attorneys need to be aware that not all insurers cover this exposure. The body of the policy may not have an exclusion such as the following: “INTELLECTUAL PROPERTY READ MORE >>
Tuesday, November 15, 2022 Claims Prior Knowledge/Notice is a leading cause for malpractice claims denials. This happens when incorrectly completing the attorney malpractice renewal application claims questions or a different insurer’s new business application. Whether intentional or by accident, misinformation on a malpractice application causes claims denials. READ MORE >>
Monday, November 14, 2022 A law firm may have substantial exposure for assets that are in their care, custody, or control. An Attorney malpractice insurance policy may exclude coverage if the asset is lost or stolen. Assets can be anything from a gold watch to a IOLTA or trust account. READ MORE >>
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