L Squared Insurance Agency Blog: claims-made insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, December 12, 2019 An attorney malpractice claim resulted in a loss of over $200,000. Unfortunately, the insured only had a policy limit of $100,000 per claim. The insurer wrote their check for $100,000 and closed their claim file. It left the insured to defend themselves and settle the balance owed on any additional amount due. READ MORE >>
Monday, November 11, 2019A claims-made insurance errors & omissions or malpractice policy may have a Firm Prior Acts Date, an Individual Prior Acts Date, a Career Coverage Prior Acts Date and/or Predecessor Firm Prior Acts Date. Each can be used to address specific coverage needs: 1. READ MORE >>
Friday, October 25, 2019Prior acts and the claims-made policy form are two of the most misunderstood malpractice insurance concepts. This misunderstanding costs professionals millions of dollars in lost coverage every year. There are two basic property and casualty insurance forms; the ‘occurrence’ policy form and the ’claims-made’ policy form. READ MORE >>
Tuesday, August 13, 2019Insurance policies can lapse because of administrative issues or lack of funds. Letting coverage lapse is never a good thing. Whether it is Business Auto, Business Owners Coverage, Professional Liability Insurance or Workers Compensation letting your insurance coverage lapse can be costly. READ MORE >>