L Squared Insurance Agency Blog: coverage
View the latest blog posts from L Squared Insurance Agency.
Wednesday, February 24, 2021Question from Attorney: I am still looking at alternatives for renewing my attorney malpractice coverage and cannot get firm terms until I get Insurance Carrier Loss runs from my incumbent insurer. If I am a “few” days late renewing coverage is that going to be a problem? READ MORE >>
Tuesday, February 9, 2021We cannot repeat this statement enough. There is no standard attorney malpractice policy. While the definitions wording is similar from policy to policy, minor policy wording differences can be the difference between having coverage or paying for the claim out of your own pocket. READ MORE >>
Thursday, February 4, 2021Because attorney malpractice insurance is written on a claims-made policy form, the prior acts date is important to determine if there is coverage for an act that may have occurred many years ago. To determine if the claims made policy covers the loss, the claims department checks: 1. READ MORE >>
Tuesday, October 20, 2020 There is no Acord standard policy wording for an Attorney Malpractice Insurance Policy. With that said a common exclusion is for awarded attorney’s fees. Attorney’s fees can run in the hundreds of thousands of dollars which can be a significant surprise if the firm is not aware of this policy exclusion. READ MORE >>
Monday, October 19, 2020 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 >>
Tuesday, July 14, 2020Disciplinary Coverage is an additional coverage found on most admitted and some non-admitted Legal Malpractice Insurance policies. Some insurers that do not offer this coverage as part of their standard policy are willing to endorse it on if requested. READ MORE >>
Monday, July 13, 2020The assumption that your attorney malpractice policy will not answer in case of a criminal complaint may be invalid. Surprisingly in the current Wesco attorney malpractice policy defense coverage is found in the ‘exclusion section IV’ for the allegations: A. READ MORE >>
Friday, May 15, 2020This continues to be a frequently asked question. As law firms discover that their businessowners policy (BOP) has exclusions for viruses or it is not a defined covered loss, they are realizing that the BOP will not provide any business interruption coverage. Attorneys are now reading their malpractice policies. READ MORE >>
Tuesday, March 24, 2020One of the problems that non-insurance people face is that they can read into a policy coverages that are not there. For the people who top sheet their policy they can often end up with the wrong impression as to the true coverage. It is important not to assume by the title what perils are covered. READ MORE >>
Thursday, March 19, 2020There have been a number of articles written that give small business owners hope that their business owners will provide business interruption coverage. Many of these authors must not have read any business owners policies. As with many COVID-19 issues; whether or not there will be coverage may determine whether a small business survives. READ MORE >>
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