L Squared Insurance Agency Blog: crime insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, December 8, 2016Attorney Question: “Do you have coverage for Fraudulent Wiring Instructions?” Response: This can be a significant exposure to a law firm or title agency. Unlike in the past, now just by hitting a button, you can send millions of dollars out of your Trust account. READ MORE >>
Tuesday, August 30, 2016Whether it is office supplies, time theft, privileged information or money, employee theft can create a significant cost for firms. According to the U.S. Chamber of Commerce approximately 75% of all employees steal from work in some way, and about 30% of all corporate bankruptcies are a direct result of employee theft. READ MORE >>
Monday, August 22, 2016In a recent blog referenced a study by Hiscox Insurance about employee embezzlement with small companies. The following link references the study previously mentioned: http://www.hiscox.com/shared-documents/14537-US-2016-Hiscox-Embezzlement-Study.pdf READ MORE >>
Wednesday, August 17, 2016Many Law Firms and other small organizations are concerned about outside threats of theft. The outside thefts are well publicized by the media. But there is a dirty little secret that small entities ignore. People are surprised to learn the number one cause of theft for most small organizations is their own employees. READ MORE >>
Thursday, August 4, 2016Starting your own Law Practice can be stressful. There are a lot of important choices you have to make to get your practice up and running to become successful. One of those to minimize up front expenses until the revenue starts to flow is starting the law practice in your home. READ MORE >>
Tuesday, July 19, 2016Crime Insurance is a property coverage, not a liability coverage. Lawyers Professional Liability Insurance is intended to coverage attorney malpractice liability claims. Don’t expect that a theft of funds will trigger a malpractice claim. READ MORE >>
Wednesday, July 13, 2016The exposure to law and accounting firms threatening their very existence from Cyber Crime has never been greater. Questions you need to answer is that if you have the things that cyber criminals want, do you have insurance coverage to protect you in cases where cyber criminals take? READ MORE >>
Tuesday, July 5, 2016Depending on the type of practice an attorney has, the Law Firm could be carrying large balances in Escrow and IOLA accounts. With smaller law firms, the firm may be relying on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks. READ MORE >>
Sunday, March 6, 2016 Average loss caused by employee dishonesty is $140,000 with one in 5 cases over $1 million. Background checks are of little help, most frauds are committed by 1st time offenders Firms now rely on internet many to READ MORE >>
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