L Squared Insurance Agency Blog: attorney malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 20, 2022 Attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with clients makes them immune to claims. An attorneys may believe that the chances of facing a claim are low. But consider that the average cost of defending a malpractice claim exceeds $80,000. READ MORE >>
Tuesday, October 18, 2022 Commonly part of the policy disciplinary coverage is found on admitted and a few non-admitted Legal Malpractice Insurance policies. Insurers that do not offer disciplinary coverage as part of their standard policy seldom will endorse it on. READ MORE >>
Friday, October 14, 2022 Being a defendant in a legal malpractice claim is no fun. In addition to the potential cost of an adverse judgement, there is the stress and expense of being away from practicing law to defend yourself. Having attorney malpractice insurance is an essential part of any law firm’s safety net. READ MORE >>
Friday, October 14, 2022 Why Do I Need A Fee Agreement? Sitting in 1L Contracts, you were probably more worried about how to define “consideration” rather than how to draft a valid contract. As you have settled into your law practice, you likely prepare and review contracts every day. READ MORE >>
Monday, October 10, 2022 Client fee disputes 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 >>
Thursday, August 25, 2022 Hiring a suspended attorney impacts the firm’s attorney malpractice insurance. While it is the firm’s prerogative to hire who they want, it can cause a firm to lose coverage. Some Examples: 1. Law Firm hired an attorney that was currently suspended from the practice of law. READ MORE >>
Monday, August 22, 2022 Insurance carrier loss runs show all claims that have been reported to an insurer during the time that the insurer provided insurance coverage. The loss runs not only include actual malpractice claims paid but reported incidents that may never turn into a claim and/or disciplinary proceedings. READ MORE >>
Monday, August 8, 2022 An unexpected crisis could render you unable to continue working. Even the youngest and healthiest attorneys can’t escape a sudden emergency. However, despite unforeseen events, Father Time marches on and so do court dates and cases. READ MORE >>
Friday, July 29, 2022 Attorney Malpractice Insurance Policies are written on a ‘claims-made’ policy form. A claims-made policy form requires that the covered act must be reported (claim made) during the policy period or during the extension of the reporting period (ERP/Tail). 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 >>
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