L Squared Insurance Agency Blog: claims
View the latest blog posts from L Squared Insurance Agency.
Tuesday, February 26, 2019 An attorney can do the darnedest things to ensure that they get their claim denied. Attorney Malpractice insurance policies are claims-made and reported policies. Remember insurance policies are contracts. Not understanding your coverage is not a defense for getting a claim denied. READ MORE >>
Friday, February 22, 2019Unlike 10 to 20 years ago attorney malpractice claims are now a part of life. Today it is a cost of doing business. Being a defendant in a legal malpractice claim is no fun. In addition to the potential cost of an adverse judgement, there is the stress and expense of being away from practicing law to defend yourself. READ MORE >>
Friday, January 25, 2019Professional Liability Insurance policies are normally written on a ‘claims-made’ policy form. In its purest form, an unendorsed ‘claims-made’ policy only provides coverage for the current policy term for covered acts that occurred during and where the claim is made and reported during that policy term. READ MORE >>
Thursday, January 24, 2019Individuals that have not had a claims-made policy often do not understand the importance of maintaining prior acts. Many think it is just a ploy for the insurer to collect more money. The reality is that claims-made insurance policies are almost worthless without the proper maintenance of prior acts coverage. READ MORE >>
Wednesday, January 23, 2019Brief background
Most property & casualty insurance policies are occurrence policies. Your personal auto, homeowners and business owners policies are good examples of an occurrence policy. With an occurrence policy, the policy that is on the risk at the time that a covered act &l... READ MORE >>
Friday, December 21, 2018Every year there are insurers that leave the Attorney Malpractice marketplace. In some cases it is because their relationship with their managing general agent (MGA) or agent ended. In others it is because the insurer decided to stop writing attorney malpractice insurance. READ MORE >>
Thursday, December 6, 2018We work with many distressed firms in placing Legal Malpractice Insurance. Most firms are in the distressed or surplus lines market because of claims. Distressed firms depending on how they disclose the claims information can end up paying dramatically different premiums for basically the same claim. READ MORE >>
Wednesday, December 5, 2018An important part of managing your attorney malpractice exposures is getting the proper Legal Management Software. The proper system software coupled with the procedures and standards being integrated into the software can go a long way in preventing a professional liability insurance claim. READ MORE >>
Tuesday, December 4, 2018Running a firm can be stressful. There are never enough hours in the day. But did not know that lack of sleep can Kill You? In addition it can lead to bad judgement and mistakes in judgement, which can lead to malpractice claims. The following is an article from The Hartford concerning what lack of sleep can do to you. READ MORE >>
Friday, November 30, 2018With normal (non E&O) commercial insurance it is common practice for Insurers to require loss runs to provide a quotation. Insurance carrier loss runs are a report produced by an insurer that provides information on all claims that have been reported to an insurer during the time that the insurer provided insurance coverage. READ MORE >>
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