L Squared Insurance Agency Blog: liability insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, June 7, 2016Sometimes disputes happen between attorneys in a law firm. Even to the point of filing malpractice claims against each other. Lawyers Professional Liability Insurance policies are not intended to cover these disputes. The typical exclusion for this is the type found in the current AXIS Insurance Company Attorney Malpractice Policy: READ MORE >>
Monday, June 6, 2016Unfortunately, we get asked this question way too often. Attorney either represented the abusive litigant in an action or filed against the litigant. Either way attorney gets dragged into the web of the malpractice claimant, who may have filed against every judge and state or federal official. READ MORE >>
Friday, June 3, 2016Attorney Question: “Why do you need the declarations page & policy endorsements to provide a malpractice quote?” Response: Attorney insurance malpractice is claims made coverage. There are no standard policies for lawyers professional liability insurance. READ MORE >>
Thursday, June 2, 2016Attorney Malpractice Insurance Carriers that are not licensed to write in all states will decline to write coverage for Law Firms that have clients in states that the insurance carrier is not licensed. With some carriers, even one client in the wrong state will be cause for a declination to issue a policy. READ MORE >>
Wednesday, June 1, 2016While sharing a case can be in the best interest of the client be cautious about making sure you document the relationship. Any time a law firm shares a case with another attorney or refers a case out to another firm, the original law firm continues to have exposure for this case. READ MORE >>
Tuesday, May 31, 2016There 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 >>
Friday, May 27, 2016Question from Attorney: Why do I need prior acts coverage for Attorney Malpractice Insurance? Response: Lawyers Professional Liability Insurance is written on a “Claims made” policy form. “Claim made” coverage in its purest form would only provide coverage for covered acts that that occurred and were reported during the policy period. READ MORE >>
Thursday, May 26, 2016Many people think that there is a separate policy issued once “Tail” is purchased on a Lawyers Professional Liability Insurance Policy. This is not the case. Generally the endorsement is just one sheet of paper and only one or 2 paragraphs long. There is not a separate policy that is issued. READ MORE >>
Wednesday, May 25, 2016Attorney Asks: Why did the attorney malpractice premium not go down at renewal? I decided to switch to all criminal work which I know is a lower risk area of practice, but the renewal application only wants to know what was done in the past year. I told carrier that I want the practice areas changed to criminal anyway. READ MORE >>
Monday, May 23, 20161st dollar defense (FDD) is sometimes called a Loss Only Deducible. What ever the name the meaning is the same. Certain professional liability insurers for attorneys and accountants offer this coverage. With FDD the insured is only responsible for the deductible if there is an indemnity payment required on the claim. READ MORE >>
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