Wednesday, March 22, 2023 Attorneys that are not law firm staff or members may share common office space. But those attorneys should not have an expectation of using the law firm’s insurance coverage. The Hanover policy defines the Named Insured as: Named Insured means the sole proprietor, entity, partnership, or corporation designated on the Declarations page. READ MORE >>
Thursday, March 9, 2023 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 >>
Friday, February 17, 2023 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 >>
Tuesday, February 14, 2023 Step Rating is not defined in legal malpractice policies. Step rating is the major premium increase cause in the first one to five years of continuous claims-made insurance coverage. With claims-made coverage the only policy that you can report a claim to is the current inforce policy. READ MORE >>
Thursday, December 22, 2022 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 >>
Monday, October 31, 2022 A law firm with claims, disciplinary activity, insurance coverage non-renewed, or rescinded, plan to provide insurance carrier loss runs for quoting and/or binding new coverage.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 >>
Tuesday, October 11, 2022 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 >>
Monday, May 16, 2022Suits 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 >>
Thursday, April 7, 2022A 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 >>
Tuesday, August 25, 2020To the dismay of insureds, there is no such thing as an ‘All Risk’ insurance policy. If you have an insurance agent tell you that this is an ‘All Risk’ policy with everything covered run do not walk to the nearest exit. Case in point is the insured v insured exclusion in a legal malpractice policy. READ MORE >>
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