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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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Thursday, March 9, 2023

What a Legal Malpractice Policy Does or Does Not Cover

Knowing what is and is not a coverage illusion in a legal malpractice policy helps determine your other insurance needs. Protecting the ‘business side of the law,’ the firm needs business owners, workers compensation, and cyber insurance. But these commercial insurance policies exclude the ‘practice side of the law’. READ MORE >>

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Friday, February 17, 2023

Legal Malpractice Insurance Cost You Pay

Two attorneys are comparing the cost of their legal malpractice insurance for their law practices. One attorney is dismayed because their law firm insurance policy is twice the cost of the other law firm.  Given that the firms have the same number of attorneys and both law practices are similar how can this be? READ MORE >>

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Thursday, December 22, 2022

Legal Malpractice Insurance Average Cost

Legal Malpractice Insurance premiums start at about the cost of a weekly trip to for coffee at your favorite café. So, is the cost of a weekly cup of coffee worth it? Attorneys going bare are in the mistaken belief that their close relationship with clients makes them immune to claims. READ MORE >>

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Monday, October 31, 2022

Legal Malpractice Insurance Carrier Loss Runs Needed

A law firm with claims, disciplinary activity, insurance coverage non-renewed, or rescinded, plan to provide insurance carrier loss runs for quoting and/or binding new coverage. Insurance carrier loss runs report(s) show claims reported to a malpractice insurer during the time the firm was insured with that insurer. READ MORE >>

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Tuesday, October 11, 2022

Suing for Unpaid Legal Fees Impacts

Suing clients for unpaid legal fees can cause your attorney malpractice insurance premiums to increase. With admitted insurers as few as 5 client fee suits for unpaid legal fees in a 2-year period causes the insurer to either decline, non-renew your insurance or place restrictive policy exclusions on your policy. READ MORE >>

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Monday, May 16, 2022

Suing Clients for Fees Cause Legal Malpractice Claims

Suits for fees are one of the leading causes of attorney malpractice claims. Studies suggest that 33% of all malpractice claims are due to fee suits. The larger the percentage in over 90 days past due receivables, the more likely the firm will have issues when they try to collect the past due amounts. READ MORE >>

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Thursday, April 7, 2022

Legal Malpractice Insurance Prior Acts Types

A legal malpractice claims-made insurance error policy 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. The different prior acts types address specific coverage needs: 1. READ MORE >>

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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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