L Squared Insurance Agency Blog: erp
View the latest blog posts from L Squared Insurance Agency.
Friday, April 9, 2021Attorney Malpractice Extended Reporting Period (ERP or Tail) Endorsements are expensive. This is a tale of a firm that went to great lengths to figure out a way to avoid buying an ERP. Unfortunately, a bad creative solution can be costly. The following money saving idea for an alternative ERP is not recommended. READ MORE >>
Monday, October 26, 2020Your law firm is closing. The firm has maintained attorney malpractice insurance since the firm’s inception. But remember that all attorney malpractice insurance policies sold in the USA are claims-made coverage. When the last policy terminates so does your past acts coverage unless you have an Extended Reporting Period Endorsement attached to the policy. READ MORE >>
Wednesday, September 23, 2020There can be strings attached to a "free" retirement tail. The attorney takes the “free” non-practicing Extended Reporting Period Endorsement (ERP/Tail) on his Attorney Malpractice Insurance Policy but decides to start practicing law again. What is the impact on the ERP? READ MORE >>
Tuesday, July 28, 2020A frequently asked misguided question from attorneys is wanting to purchase a tail policy or shop their tail policy coverage. My response upsets some. There really is no such thing as a ‘tail policy’. I am sure that many attorneys stop reading right there, but hopefully not! 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 >>
Monday, February 25, 2019Many an attorney is frustrated when they first breach the subject of using the “free” non-practicing Extended Reporting Period Endorsement (ERP or Tail) with their Attorney Malpractice Agent. If the agent tells them the cold “truth”, it can change the attorney’s plans about how and when to retire. READ MORE >>
Tuesday, February 19, 2019 The conundrum some attorneys face is that after they retire, they really did not want to fully retire. An old client or a new client comes along and wants the attorney to do some part-time legal work. While a free non-practicing Extended Reporting Period Endorsement (ERP)Tail is a valuable endorsement, it can be made worthless. READ MORE >>
Thursday, February 14, 2019Have blogged about this before. Attorney’s close to retirement having qualified for a free non-practicing ERP are shopping their malpractice insurance. Saving a couple hundred dollars today could cost thousands tomorrow. READ MORE >>
Thursday, December 27, 2018Please see the answers to your questions below each question: I know that this can be frustrating, but all attorney malpractice insurers’ extended reporting period (ERP/Tail) provisions are provisions that an insurer will not modify. READ MORE >>
Friday, December 21, 2018Every year there are insurers that leave the Attorney Malpractice marketplace. In some cases it is because their relationship with their managing general agent (MGA) or agent ended. In others it is because the insurer decided to stop writing attorney malpractice insurance. READ MORE >>
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