L Squared Insurance Agency Blog: malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, April 20, 2021Many years ago, a law firm’s attorney malpractice insurance was being non-renewed because of claims severity and frequency. No malpractice insurer would provide a replacement attorney malpractice Insurance policy with prior acts. This 13 member firm was looking at premiums of around $125,000 for a million dollars coverage without prior acts. READ MORE >>
Thursday, April 1, 2021I was meeting with a medium sized insurance defense law firm partners a few years ago and trying to understand why they were paying what seemed like about 3 times what their attorney malpractice premium should be. According to the area of practice grid (AOP) the firm did 100% insurance defense. READ MORE >>
Monday, March 22, 2021 This can happen with either the incumbent malpractice insurer’s renewal application or a new business application with a different insurer. Claims Prior Knowledge is a leading cause for malpractice claims denials. Remember whether intentional or by accident, misinformation on a malpractice application will be used against you. READ MORE >>
Thursday, March 4, 2021If a law firm has claims, disciplinary activity, or insurance coverage non-renewed or rescinded, insurance carrier loss runs likely will be required to provide a quote and/or bind new coverage. Insurance carrier loss runs are a report(s) that shows claims reported to a malpractice insurer during the time the firm was insured by that insurer. READ MORE >>
Wednesday, February 24, 2021Question from Attorney: I am still looking at alternatives for renewing my attorney malpractice coverage and cannot get firm terms until I get Insurance Carrier Loss runs from my incumbent insurer. If I am a “few” days late renewing coverage is that going to be a problem? READ MORE >>
Tuesday, February 23, 2021“My Friend does the same thing I do but is paying half what I pay for Attorney Malpractice Insurance.” This often asked question only comes from the attorney that may be paying more than his friend. I say, ‘may be’, because occasionally they are both paying the same premium. READ MORE >>
Thursday, February 4, 2021Because attorney malpractice insurance is written on a claims-made policy form, the prior acts date is important to determine if there is coverage for an act that may have occurred many years ago. To determine if the claims made policy covers the loss, the claims department checks: 1. READ MORE >>
Friday, January 22, 2021The Law Firm’s office gives our insurance agency name and e-mail so that the lender can contact us to add a certificate for a mortgagee to an attorney malpractice insurance policy. While we are more than happy to do this for a law firm’s business owner’s policy (BOP), we decline when it is specifically for the malpractice insurance. READ MORE >>
Wednesday, January 20, 2021Attorney Malpractice Insurance provides protection for an attorney’s assets. A malpractice judgement might not only impact current assets but future earnings. In our current litigious world, it is rare that an attorney goes through their entire career without a claim made against them and in trouble times, claim frequency rises. READ MORE >>
Monday, November 16, 2020To save money L Squared is occasionally asked if we will allow a law firm to renew their Attorney Malpractice Insurance Policy without prior acts coverage. In some cases, the firm only carries the malpractice insurance to meet the state requirements or requirements of a referral service. READ MORE >>
|
Blog Archive
2021
2020
2019
2018
2017
2016
2015
2013
2011
 |
|