L Squared Insurance Agency Blog: claims made
View the latest blog posts from L Squared Insurance Agency.
Wednesday, August 8, 2018When we get this question, it is usually because the suspended attorney suspects that there will be unreported malpractice claims made against the attorney in the future. Generally when a malpractice insurer learns about the suspension, the insurer will either set the malpractice policy up for non-renewal or cancel the coverage immediately with notice. READ MORE >>
Thursday, July 5, 2018Question from Attorney: Why do I need prior acts coverage for Attorney Malpractice Insurance? Response: Lawyers Professional Liability Insurance is written on a ‘Claims-made’ policy form. ‘Claims-made’ coverage in its purest form would only provide coverage for covered acts that that occurred and were reported during the policy period. READ MORE >>
Wednesday, June 27, 2018Attorney Asks: Why did my attorney malpractice premium not go down at renewal? I’m switching to all criminal work which I know is a lower risk area of practice, but the renewal application only wants to know what was done for the past year. I told insurer that I want the practice areas changed to criminal anyway. READ MORE >>
Thursday, May 31, 2018We have discussed a number of issues with Extended Reporting Period Endorsements (ERP or Tail) recently. One that does not come up often is the remaining ERP policy limit. Remember that an ERP is attached to the last inforce policy. READ MORE >>
Friday, April 27, 2018Some law firms are reluctant to report small claims. Many times the law firm feels that the legal malpractice claim is small and they can cover it themselves. These strategies will help their insurance history thus keeping their attorney malpractice insurance premiums lower. READ MORE >>
Thursday, April 26, 2018Tough call, you found this terrific attorney that would be a great fit for your firm. The attorney’s prior firm(s) work experience and skills are exactly what your law firm needs. The attorney is concerned about the prior firm surviving after departure and has asked if you will pick up this prior acts exposure. READ MORE >>
Wednesday, April 18, 2018Question from Attorney: Will you write an Attorney Malpractice Insurance Policy for me without prior acts coverage? I currently have prior acts coverage and want to renew without any prior acts coverage to save money. I do not want to purchase a Tail or Extended Reporting Period Endorsement from the incumbent insurer. READ MORE >>
Monday, April 9, 2018As a law firm evolves through the years, its insurance needs may change. Changes in a firm’s practice areas and clients might require different liability insurance limits than the firm required in the past. Raising policy limits to meet a law firms needs causes no coverage issues. READ MORE >>
Friday, March 9, 2018Request from our Client: Need to add a temporary increased limits ‘rider’ to my Attorney Malpractice Insurance Policy to cover a large real estate deal for a client. Response: The term “rider” is normally associated with life and health insurance policies. READ MORE >>
Thursday, March 1, 2018A common misconception for law firms is when does the Attorney Malpractice Insurance policy coverage end once an attorney leaves? Some firm’s rationalize that the Attorney Malpractice coverage for an attorney continues until the end of the policy term because it is paid for. READ MORE >>
|
Blog Archive
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2013
2011
|
|