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L Squared Insurance Agency Blog: legal liability insurance

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The general public commonly believes that attorneys rarely get sued.  By one estimate 1 in 20 private practice attorneys face a legal malpractice claim each year.  Other estimates are that a private practice attorney can face 3 malpractice claims during their careers. READ MORE >>

Avoid flying into a mountain.  One of the more preventable attorney malpractice claims is a statute of limitations claim.  Initial steps at client intake can help avoid or minimize your risk of being sued. First determine if the firm is bumping up against statutes of limitation issues. READ MORE >>

If you receive a subpoena for information or to testify take a deep breath and then notify your malpractice insurer.  Even though this is a benefit in many policies it is a 2-edge sword.  Responding to the subpoena without notifying your insurer could down the road lead to a malpractice claim’s denial for prior knowledge. READ MORE >>

An attorney can be in between jobs and wants coverage until their next job comes along. That attorney wants legal malpractice protection.  With frequency we get asked about short terms attorney malpractice policies, this is that recently asked question: From Attorney: READ MORE >>

We are frequently asked why a Commercial Umbrella Insurance policy cannot be used to increase liability limits for their attorney malpractice exposure.  The simple answer is that a Commercial or Personal Umbrella Insurance policy specifically excludes coverage for work done by an attorney. READ MORE >>

Accountants Errors & Omissions and Attorney Malpractice insurance policies may have a Firm Prior Acts Date, an Individual Prior Acts Date, a Career Coverage Prior Acts Date and/or Predecessor Firm Prior Acts Date. Each can be used to address specific coverage needs: 1. READ MORE >>

Brief background Most property & casualty insurance policies are occurrence policies.  Your personal auto, homeowners and business owners policies are good examples of an occurrence policy.  With an occurrence policy, the policy that is on the risk at the time that a covered act &l... READ MORE >>

On September 7, 2018, Eric Conn (also known as Mr. Social Security) received an additional 15 years for his fleeing to Honduras after pleading guilty to defrauding the government out of over $500 Million of social security benefits.  He now is sentenced to 27 years in prison and should serve a minimum of 22 years. READ MORE >>

Most attorneys understand that if they have a malpractice claim made against them or a lawsuit filed that they need to notify their insurer immediately.  But it is also important for the attorney to know when they should or should not put their malpractice insurer on notice. READ MORE >>

Many attorneys are surprised to find that attorney malpractice insurance policies have a deductible.  The deductible may be mandated by the underwriter to address small frequent claims or chosen by the insured to reduce premiums or claim costs. READ MORE >>

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