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

View the latest blog posts from L Squared Insurance Agency.

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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A law firm with claims, disciplinary activity, insurance coverage non-renewed, or rescinded, plan to provide insurance carrier loss runs for quoting and/or binding new coverage.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, August 25, 2020

Insured vs Insured Exclusion in Legal Malpractice policies

To 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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Thursday, June 13, 2019

Know the Filing date for when The Bell Tolls

A common administrative error that causes many attorney malpractice claims involves statute of limitations issues.  By one estimate at least 1 in 5 attorney malpractice claims involves a statute of limitations being missed.  While determining the statute of limitation in a given state is relatively easy. READ MORE >>

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Wednesday, March 13, 2019

What does the Attorney Malpractice Knowledge Date mean in Relation to Prior Knowledge?

Legal malpractice policies sold in the United States are claims-made policies.  Conceptually the insurer that is on the risk is the insurer and policy form that will defend the insured and pay the claim should a claim be made during the policy period, providing that the reported act occurs after the prior acts date. READ MORE >>

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Tuesday, February 26, 2019

Ways to get your Attorney Malpractice Claim Denied

An attorney can do the darnedest things to ensure that they get their claim denied.  Attorney Malpractice insurance policies are claims-made and reported policies.  Remember insurance policies are contracts.  Not understanding your coverage is not a defense for getting a claim denied. 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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