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L Squared Insurance Agency Blog: bop

View the latest blog posts from L Squared Insurance Agency.

Whether a Law or Accounting firm rents, owns a building or works out of their house; a Business Owners Policy (BOP) is essential insurance coverage.  While most firms understand how important malpractice insurance is.  Professional liability insurance only covers the errors and omissions. READ MORE >>

Law Firms, Accounting Firms and Title Agencies know that they need professional liability insurance for their malpractice or errors and omissions coverage.  But many firms neglect the business side of their practice.  BOP stands for Business Owners Policy is sometimes also referred to as Business Insurance. READ MORE >>

Many Law Firms carry large balances in Escrow Trust and IOLTA accounts.  What would happen if those funds disappear?  Law firms may rely on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks.  Unfortunately this “trusted” employee is a leading cause of loss. READ MORE >>

In the past we have blogged about attorney malpractice policies not answering cyber claims and that even though a business owner’s policy (BOP) may contain some cyber coverage, it likely will not provide all of the coverage and limits that a true cyber policy provides. READ MORE >>

Whether a Law or Accounting Firm rents or owns a building, a Business Owners Policy (BOP) is essential insurance coverage.  While most Firms understand how important Malpractice Insurance is.  Professional Liability Insurance only covers the errors and omissions or malpractice claims. READ MORE >>

Starting your own Law Practice can be stressful. There are a lot of important choices you have to make to get your practice up and running to become successful.  One of those to minimize up front expenses until the revenue starts to flow is starting the law practice in your home. READ MORE >>

It should come as no surprise to you that general liability is a major issue for law firms. General liability lawsuits can bankrupt a firm just as easily as a attorney malpractice claim.  As with making sure that you take care of the practice of law it is just as important to protect yoursel... READ MORE >>

Many law firms and accounting firms know that they need professional liability insurance to protect them for malpractice.  But many firms neglect the business side of their practice.  BOP stands for Business Owners Policy.  It is a prepackaged policy specifically designed to meet the needs of small to medium sized businesses. READ MORE >>

Depending on the type of practice an attorney has, the Law Firm could be carrying large balances in Escrow and IOLA accounts.  With smaller law firms, the firm may be relying on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks. READ MORE >>

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