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L Squared Insurance Agency Blog: claims

View the latest blog posts from L Squared Insurance Agency.

Claim Study:  Failure to Investigate Client’s Potential Sources of Insurance Coverage Curiosity of Travelers Insurance Company One of the initial issues that a civil litigator retained to provide a defense should consider is whether the client has any insurance coverage that might be responsive to the claim or suit. READ MORE >>

Request from our Client: Need to add a temporary increased limits ‘rider’ to my Attorney Malpractice Insurance Policy to cover a large real estate deal for a client. Response: The term “rider” is normally associated with life and health insurance policies. READ MORE >>

A common misconception for law firms is when does the Attorney Malpractice Insurance policy coverage end once an attorney leaves?    Some firm’s rationalize that the Attorney Malpractice coverage for an attorney continues until the end of the policy term because it is paid for. READ MORE >>

This may be a misunderstood concept for claims-made insureds or just wishful thinking.  Just because an insured has a claims-made policy at the time that a claim is reported does not mean that there will be coverage for that claim.  READ MORE >>

The assumption that your attorney malpractice policy will not answer in case of a criminal complaint could be invalid.  A recent New Jersey court case was cited in Professional Liability Matters by Seth L. Laver, Andrew P. Carroll and Steven C. READ MORE >>

Attorney Malpractice, Accountant Professional Liability and Title Agency Errors and Omissions Insurance are written on a claims-made policy form on behalf of the named insured firm.  Coverage extends from the firm to the employees, contractors, and partners/members of the firm. READ MORE >>

This issue recently came up with a client who did not want a ‘burning’ the limits attorney malpractice policy.  The client went no further than the insurance proposal coversheet to come to a conclusion.  In this case the client assumed (wrongly) that Claims Expenses Outside the Limits meant that there was no separate coverage for defense costs. READ MORE >>

It is amazing the problems an accounting firm or law firm can create for themselves by failing to notify their Malpractice agent/insurer of changes to the firm.  Malpractice Insurance Policies Require Timely Notification of Firm Changes. READ MORE >>

When I asked why malpractice insurance policy premium went up, the agent stated that it was because of “step rating”.  What is step rating and why did my premium go up? Most malpractice insurance policies are Claims Made Policies.  And most Claims Made Policies are Step Rated. READ MORE >>

When does misrepresentation or non-disclosure on the attorney malpractice insurance application cross the line between having coverage declined to having the coverage rescinded?   Having coverage declined because of properly disclosing application information is a problem. READ MORE >>

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