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Home > Blog > L Squared Insurance Agency Blog: claims
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L Squared Insurance Agency Blog: claims

View the latest blog posts from L Squared Insurance Agency.

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Thursday, February 18, 2021

Cyber Claims not covered by an Attorney Malpractice Policy

Here are a few examples of claims made.  None of these law firms had a cyber policy: 1.       Your client is about to close on a business deal that you and the client have been working on months.  The money needs to be transferred by close of business on Friday. READ MORE >>

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Wednesday, January 13, 2021

Not Reporting 'Small' Attorney Malpractice Claims

For property insurance not reporting small claims makes sense.  With a property claim generally you know with great certainty the amount of damages quickly.  If the property claim is below or right around your property claims deductible, then handle the claim. READ MORE >>

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Thursday, November 12, 2020

MDTC Webinar Spotting Staged Fraudulent Claims 11/19 12PM ET

An Exploration Into The World of Staged Collision & Fraudulent Claims Thursday, November 19, 2020 12:00 p.m. - 1:00 p.m. Explico & MDTC Insurance Law Section have collaborated to bring you this timely information. Joseph Neal, P.E. READ MORE >>

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Monday, October 19, 2020

Step Rating a Necessary Evil for Attorney Malpractice Insurance Claims-Made Policies

Step Rating  is not defined in an attorney malpractice policy.  But at inception of your 1st policy, it is the major reason that your premium will increase and continue to go up for the first few years. Attorney Malpractice Insurance policies are written ‘claims-made’ policy form. READ MORE >>

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Monday, September 28, 2020

Dare to Repair: Understanding the Value of Pre-Claim Assistance Coverage

When confronted with a situation that might result in a malpractice claim, most lawyers, understandably, do not know what to do. They may be tempted to ignore the situation or try and fix the problem on their own. In many cases, a potential malpractice claim can be repaired. READ MORE >>

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Friday, December 20, 2019

Protect Your Malpractice Insurance Past Acts when You Leave or Join a New Firm

End of year can be an exciting time for accountants and attorneys.  Many professionals make or execute career decisions at year.  Some start out on a new journey as a solo practitioner.  Others are forming new partnerships or joining existing partnerships. READ MORE >>

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Thursday, December 12, 2019

Sins of the Past Exhaust Attorney Malpractice Policy Limit

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 >>

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Thursday, November 14, 2019

Don't Make an Attorney Malpractice Claim Worse

Upon discovering a potential malpractice claim, think and consult before you react.  Law firms can make a bad situation much worse.  Here are a few attorney malpractice claim broad strokes to keep from making things worse:    1.       The good news is that not every mistake is malpractice. READ MORE >>

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Monday, November 11, 2019

Claims-Made Insurance Prior Acts Types

A 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 >>

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Friday, October 25, 2019

Prior Acts Coverage Is an Essential Part of a Claims-Made Policy

Prior 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 >>

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