L Squared Insurance Agency Blog: claims reporting
View the latest blog posts from L Squared Insurance Agency.
Wednesday, June 21, 2017Recently a claim was made because a business deal was going bad. This could be a covered act if the lawyer or accountant were acting in their professional capacity and providing professional services. But in this case it was the insured accountant that had bought a non-accounting related business personally with nonmember partner from outside the firm. READ MORE >>
Thursday, June 8, 2017See the Rest of the Story. When Attorney Malpractice Prior Knowledge is not Prior Knowledge Blog
It is important to know when to put your Attorney Malpractice Insurance Carrier on notice. Most malpractice policies require the insured to put the malpractice insurance carrier on notice... READ MORE >>
Monday, October 17, 2016Although it comes up infrequently, occasionally you will receive a Subpoena. Even though it is a benefit in many policies this is a 2 edge sword. Responding to the subpoena without notifying your malpractice insurance carrier could down the road lead to a malpractice claim's denial. READ MORE >>
Friday, August 26, 2016We work with many distressed firms to place Lawyers Professional Liability Insurance Coverage. Most of the time the firm is in the distressed or surplus lines market because of claims. Distressed firms depending how much work they are willing to put into the disclosing claims informat... READ MORE >>
Friday, June 17, 2016For a solo attorney, once the attorney is suspended from the practice of law, the lawyers professional liability insurance carrier will not renew insurance coverage. The attorney malpractice insurance policy covers the work of a licensed attorney. READ MORE >>
Monday, June 6, 2016Unfortunately, we get asked this question way too often. Attorney either represented the abusive litigant in an action or filed against the litigant. Either way attorney gets dragged into the web of the malpractice claimant, who may have filed against every judge and state or federal official. READ MORE >>
Tuesday, May 24, 2016Many people are concerned after they report a potential claim or incident the malpractice insurance company’s claims department sends them a Reservation of Rights Letter. This is a standard procedure for most malpractice claims departments. READ MORE >>
Friday, May 20, 2016Another Law Firm that needed was being non renewed by their current Lawyers Professional Liability Insurance Carrier because of claims, severity, and frequency. This combination meant that it was prohibitively expensive to find a Malpractice Insurance policy that covered their prior acts. READ MORE >>
Wednesday, May 18, 2016One area that law firms get caught on is completing the claims section of either the incumbent malpractice insurance carrier’s renewal application or a new business application with a different carrier at renewal. “Prior Knowledge” of a claim is one of the leading causes for denial of Lawyers Professional Liability Insurance Claims. READ MORE >>
Wednesday, May 4, 2016Many Law Firms are reluctant to report claims made against them. Many times the Law Firm feels that the Lawyer Liability Claim is small and they can cover it themselves and it will help their insurance history, thereby keeping their Lawyers Malpractice Insurance premiums low. READ MORE >>
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