L Squared Insurance Agency Blog: claims
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 >>
Tuesday, June 20, 2017Claims made policies normally contain a prior acts date. Firms face a dilemma when they have trouble renewing claims made coverage at a ‘reasonable’ price. Sometimes it is tempting to renew coverage without the prior acts being maintained to save money. READ MORE >>
Thursday, June 15, 2017In Continental Casualty Company (CNA) v Joseph J Boughton Jr, CNA was allowed to rescind coverage even after CNA agreed to pay $12,500 to reimburse one of the accounting firm’s owners for his legal costs. The CPA firm Marshall Granger & Co LLP was jointly owned by Mr. Laurence M Brown & Ronald J Mangini. 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 >>
Wednesday, May 31, 2017Attorney Sicari discovered that his Lawyers Professional Liability Insurance Policy (LPL) had lapsed. Unfortunately for him his discover was in 2013 when the coverage had lapsed in 2011. As luck would have it in July of 2013 he also discovered that he had a malpractice claim against him. READ MORE >>
Tuesday, May 23, 2017“Duty to Defend” is an important provision in most Professional liability and Malpractice Insurance policies. This gives the insured the peace of mind that an insurer cannot just choose not to defend without clearly stating why the policy does not provide coverage. READ MORE >>
Thursday, May 18, 2017Debt Collection attorneys are constantly worried about running afoul of the Fair Debt Collection Practices Act (FDCPA). According to Professional Liability Matters in Midland Funding LLC v Johnson the Supreme Court ruled that pursuing stale debt in bankruptcy court does not violate the FDCPA. READ MORE >>
Wednesday, May 17, 2017This issue comes up with frequency. Attorneys for a variety of reasons join together. In many cases they share office space, support staff, computer systems, and other equipment to spread out the costs. Some actually make themselves look like a partnership from letterhead to advertising when no partnership agreement exists. READ MORE >>
Thursday, May 4, 2017Out recent blog about the Consumer Financial Protection Bureau (CFPB) stated that a number of law firms were being contacted about violating consumer protection laws. Many had signed consent decrees costing this hundreds of thousands of dollars or more. READ MORE >>
Monday, May 1, 2017The Consumer Financial Protection Bureau (CFPB) was formed by the Dodd-Frank Act. The main intent of the CFPB was to help consumers that were having issues with Banks, Lenders and other Financial Institutions. READ MORE >>
|
Blog Archive
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2013
2011
|
|