L Squared Insurance Agency Blog: liability insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, June 11, 2019 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 >>
Friday, May 17, 2019Avoid 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 >>
Wednesday, May 15, 2019 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 >>
Thursday, April 4, 2019An 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 >>
Tuesday, March 26, 2019 Protecting the ‘business side of the law’, the firm needs to carry business owners, workers compensation, and cyber insurance. But these commercial insurance policies exclude the ‘practice side of the law’. Claims-made attorney malpractice insurance policies protect the ‘practice side of the law’. READ MORE >>
Tuesday, March 19, 2019We 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 >>
Tuesday, February 26, 2019 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 >>
Monday, February 25, 2019Many an attorney is frustrated when they first breach the subject of using the “free” non-practicing Extended Reporting Period Endorsement (ERP or Tail) with their Attorney Malpractice Agent. If the agent tells them the cold “truth”, it can change the attorney’s plans about how and when to retire. READ MORE >>
Friday, February 22, 2019Unlike 10 to 20 years ago attorney malpractice claims are now a part of life. Today it is a cost of doing business. Being a defendant in a legal malpractice claim is no fun. In addition to the potential cost of an adverse judgement, there is the stress and expense of being away from practicing law to defend yourself. READ MORE >>
Tuesday, February 12, 2019 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 >>
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