L Squared Insurance Agency Blog: lawyers professional liability
View the latest blog posts from L Squared Insurance Agency.
Monday, December 19, 2016According to NBC News and The Wall Street Journal, a Minnesota Federal grand jury indicted lawyers Paul Hansmeier and John Steele of trying to extort money from victims who uploaded X-rated files to file-sharing sites Basically the shakedown stared by getting the internet addresses of the people that downloaded the X-rated movies. READ MORE >>
Friday, December 16, 2016The declarations page outlines the key elements of your malpractice insurance coverage (LPL). Even though there is no standard LPL policy at a bare minimum checking the items listed below is essential. If you read nothing else, read your declarations page. Key items to review are: 1. READ MORE >>
Thursday, December 15, 2016According to one ABA report 23% of law firms didn’t know if they had a data breach. This is a troubling statistic in that another ABA report stated that around 15% of all law firms have had a data breach. Today it is not so much “if” your law firm will have a data breach, but “when. READ MORE >>
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 >>
Monday, December 5, 2016In OneBeacon Insurance Co. v. T. Wade Welch & Associates, the 5th Circuit affirmed a $28 million judgement for bad faith ruling that the One Beacon "prior knowledge" exclusion did not apply. As with many Lawyers Professional Liability Insurance policies OneBeacon issued a series of professional liability policies to T. READ MORE >>
Friday, December 2, 2016According to an article in the Insurance Journal the California Bar Wants to Ban Sex Between Lawyers & Clients. While many states have such a ban, California has yet to catch up. For more information concerning this click on California Bar Proposed Sex Ban. READ MORE >>
Thursday, December 1, 2016Suing a client for unpaid fees is usually a bad idea. Yes an attorney can wait till after the statute has run, and yes this may prevent a counter claim or at least provide a defense. But no it will not prevent a bar complaint from being filed and if done with any frequency will likely have an impact on your attorney malpractice premiums. READ MORE >>
Monday, November 21, 2016Earlier this year we blogged about a Pennsylvania attorney that had been sanctioned for $1 million for “egregious tactics”. As we mentioned sanctions are not generally covered by Lawyers Professional Liability Insurance policies. READ MORE >>
Friday, November 18, 2016PHOENIX — Laurence "Kirk" Nurmi, who was dragged to the depths of social-media infamy for representing killer Jodi Arias during her two highly publicized trials, has signed an agreement to be suspended from practicing law for four years because he published a book about the case. READ MORE >>
Monday, November 7, 2016This time of year there are many attorneys that are forming new practices, either for the 1st time as a new in practice attorney or coming from a larger firm. Here are a couple things to remember when completing attorney malpractice applications: 1. Attorney Malpractice is written for the firm. READ MORE >>
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