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L Squared Insurance Agency Blog: lawyers

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The following article is from Wilson Elser/Attorneys Advantage website that our clients that are with Aon/AXIS Insurance have access to. October 30, 2018 Author: David H. Potter Data breaches and cyberattacks are becoming more prevalent and law firms have quickly become attractive targets for hackers due to the sensitive and privileged information firms collect. READ MORE >>

We frequently get asked questions as to whether we have an insurer that will provide coverage for different attorney practice areas.  As an independent nationwide agency there are rarely any areas of practice that we do not have an insurer willing to provide coverage for a well-run law firm. READ MORE >>

According to a number of media outlets, a Hiscox Insurance Company spokesman confirmed that one of its insured Law Firms has hacked.  Dark Overlord is demanding a ransom to not release sensitive 9/11 documents. READ MORE >>

Please 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 >>

Every 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 >>

We have Law Firms that hire a suspended attorney, one that was recently suspended, or had other disciplinary actions.  While it is the firm’s prerogative to hire anyone they want, they should know about the disciplinary actions prior to making an offer. READ MORE >>

About 2 years ago we blogged about the data breach of the now defunct Panama Law Firm Mossack Forseca.  If you remember over 11.5 million stolen client documents were leaked to the press over a period of months  These leaked client files were dubbed the Panama Papers. READ MORE >>

As the New Year approaches this seems to the time of year that attorneys getting close to retiring start thinking about hanging up their shingles. Generally their income starts to drop and they start looking for ways to save money.  One of the quickest ways appears to be shopping the attorney malpractice insurance in hopes of getting a cheaper rate. READ MORE >>

We work with many distressed firms in placing Legal Malpractice Insurance.  Most firms are in the distressed or surplus lines market because of claims.  Distressed firms depending on how they disclose the claims information can end up paying dramatically different premiums for basically the same claim. READ MORE >>

An important part of managing your attorney malpractice exposures is getting the proper Legal Management Software.  The proper system software coupled with the procedures and standards being integrated into the software can go a long way in preventing a professional liability insurance claim. READ MORE >>

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