L Squared Insurance Agency Blog: cost
View the latest blog posts from L Squared Insurance Agency.
Thursday, December 22, 2022 Legal Malpractice Insurance premiums start at about the cost of a weekly trip to for coffee at your favorite café. So, is the cost of a weekly cup of coffee worth it? Attorneys going bare are in the mistaken belief that their close relationship with clients makes them immune to claims. READ MORE >>
Thursday, October 20, 2022 Attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with clients makes them immune to claims. An attorneys may believe that the chances of facing a claim are low. But consider that the average cost of defending a malpractice claim exceeds $80,000. READ MORE >>
Wednesday, March 30, 2022“My Friend does the same thing I do but is paying half what I pay for Lawyers Professional Liability Insurance LPL).” Both attorneys may have the same insurer and we may write both accounts. But premiums can differ as their law practices on an insurance application may be vastly different. READ MORE >>
Monday, December 13, 2021
No matter how talented or experienced an attorney is, the risk of making a mistake and being held liable for it is one that is always present in this profession. And while learning about the intricacies of legal professional liability (commonly referred to as malpractice insurance) mi... READ MORE >>
Thursday, October 14, 2021Letting your Attorney Malpractice insurance lapse has consequences. Attorneys sometimes see the ‘Automatic’ Extended Reporting Period Endorsement section in many malpractice policies and think this is a grace period. READ MORE >>
Tuesday, February 23, 2021“My Friend does the same thing I do but is paying half what I pay for Attorney Malpractice Insurance.” This often asked question only comes from the attorney that may be paying more than his friend. I say, ‘may be’, because occasionally they are both paying the same premium. READ MORE >>
Tuesday, April 21, 2020When the economy declines, attorney malpractice claims rise. Following every recession when people lose money, they look for someone to blame. Mistakes in paperwork or an error in judgement is not a problem when there is no economic loss. With an economic loss, even when there is no legal malpractice, does not prevent claims from being filed. READ MORE >>
Wednesday, December 4, 2019Year-end is the time that many law firms split up and one of the questions is what’s the cost for attorney malpractice insurance tail coverage or an extended reporting period endorsement (ERP). This question came from an email from a law firm that was planning on splitting up at year-end. READ MORE >>
Wednesday, August 21, 2019Small firm attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with their clients makes them immune to claims. Other attorneys believe that the chances of facing a claim are low. The logic flaw is that small firm attorneys are just as likely to have a malpractice claim as their more high-profile peers. READ MORE >>
Monday, April 30, 2018Lawyers that choose to go without malpractice insurance believe that because they work for a small firm and maintain close relationships with their regular clients, that they are immune to claims. Other attorneys believe that the chances of them facing a claim aren’t great enough for them to purchase an Attorney Malpractice insurance policy. READ MORE >>
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