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Home > Blog > L Squared Insurance Agency Blog: legal malpractice insurance
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L Squared Insurance Agency Blog: legal malpractice insurance

View the latest blog posts from L Squared Insurance Agency.

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Tuesday, February 19, 2019

A Free Non-Practicing Attorney Malpractice Tail (ERP) has Strings Attached

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 >>

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Thursday, January 24, 2019

Prior Acts Importance with Claims-Made Insurance Policies

Individuals that have not had a claims-made policy often do not understand the importance of maintaining prior acts.  Many think it is just a ploy for the insurer to collect more money.  The reality is that claims-made insurance policies are almost worthless without the proper maintenance of prior acts coverage. READ MORE >>

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Thursday, July 12, 2018

Why the Declarations Page & Endorsements needed to Quote Legal Malpractice Insurance

Everyone wants an accurate attorney malpractice insurance quote.  Remember it is not just the premium quoted that matters, but the coverage provided by that quote.  No one wants a low premium that does not provide the proper insurance coverage. READ MORE >>

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Friday, May 25, 2018

Ways to avoid buying an Attorney Malpractice ERP —Bad Idea—Part II

A number of years ago a law firm was being non-renewed by their current attorney malpractice insurer because of claims severity and frequency.  This meant that it was prohibitively expensive to find a replacement attorney malpractice Insurance policy that covered their prior acts. READ MORE >>

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Tuesday, May 15, 2018

Why do I need Insurance Carrier Loss Runs to quote Malpractice Insurance?

Many people have no idea what Insurance Carrier Loss Runs are.  Plus who wants to discuss or disclose malpractice claims just to get an insurance quote.  Why won’t an insurer just quote without this information? Insurance carrier loss runs are a report(s) that shows claims reported to a malpractice insurer during the time the firm was with the insurer. READ MORE >>

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Monday, May 14, 2018

My Malpractice Insurer requires a new application every year

Year after year you are required to complete a malpractice application.  It is enough to make you want to scream.  Accountant and attorney malpractice insurers generally want an updated application every year.  But Business Owners, Workers Compensation and Commercial Auto insurers renew each year without an application. READ MORE >>

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Monday, October 31, 2016

Attorney Malpractice Insurance – The insurance coverage dilemma for Contract Attorneys

As the law firms try to address their costs by avoiding hiring new associate attorneys many firms have turned to hiring contract attorneys either on a short or long term basis.  This has advantages to the law firm by being able to take on more legal work without having to permanently increase its fixed costs. READ MORE >>

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Wednesday, September 28, 2016

Prior Acts—Claims made Insurance Coverage

Claims made insurance policies are designed to provide coverage for covered acts that a claim is made and reported during the policy period.  An unendorsed claims made policy generally only provides coverage for the current policy term for covered acts that occurred during the policy period and where the claim is made and reported during that term. READ MORE >>

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Friday, August 5, 2016

Attorney Malpractice Insurance Policy—What’s in a Name?

An important and sometimes overlooked item is what are the entities that are actually insured under the Lawyer Professional Liability Insurance Policy?  Generally Attorney Malpractice Insurance policies are written on behalf of the named insured firm and all of the attorneys that work for the firm are insured for the work that they do for the firm. READ MORE >>

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Tuesday, May 31, 2016

Attorney Malpractice Deductible Options

There are many different deductible options; some are packaged into the policies some are provided as an additional charge. 1.       Zero Dollar Deductible—this is listed 1st, as with a zero dollar deductible the options list after this do not apply. READ MORE >>

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