L Squared Insurance Agency Blog: malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, August 25, 2022 Hiring a suspended attorney impacts the firm’s attorney malpractice insurance. While it is the firm’s prerogative to hire who they want, it can cause a firm to lose coverage. Some Examples: 1. Law Firm hired an attorney that was currently suspended from the practice of law. READ MORE >>
Monday, August 22, 2022 Insurance carrier loss runs show all claims that have been reported to an insurer during the time that the insurer provided insurance coverage. The loss runs not only include actual malpractice claims paid but reported incidents that may never turn into a claim and/or disciplinary proceedings. READ MORE >>
Thursday, August 18, 2022 Claims-made prior acts coverage is a misunderstood malpractice insurance concept. This misunderstanding costs professionals millions of dollars in lost coverage every year. The two basic property and casualty insurance forms are the ‘occurrence’ policy form and the ’claims-made’ policy form. READ MORE >>
Monday, August 8, 2022 An unexpected crisis could render you unable to continue working. Even the youngest and healthiest attorneys can’t escape a sudden emergency. However, despite unforeseen events, Father Time marches on and so do court dates and cases. READ MORE >>
Friday, July 29, 2022 Attorney Malpractice Insurance Policies are written on a ‘claims-made’ policy form. A claims-made policy form requires that the covered act must be reported (claim made) during the policy period or during the extension of the reporting period (ERP/Tail). READ MORE >>
Tuesday, July 12, 2022If your firm receives a demand letter, I have good news for you: Your firm has not been sued (yet). However, a lawsuit could be on the horizon. A demand letter often precedes a lawsuit and usually represents an opposing party's desire to resolve a dispute before involving the court system. 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 >>
Monday, March 21, 2022When your insurer stops writing attorney malpractice insurance, every firm needs to address this issue promptly. Likely promptly will be at renewal. But for attorneys that are planning to retire this can be even more of an issue. With claims-made insurance coverage understand the needed steps to protect the your past acts coverage. READ MORE >>
Monday, December 13, 2021
No matter how talented or experienced an attorney is, the risk of making a mistake and being held liable for it is one that is always present in this profession. And while learning about the intricacies of legal professional liability (commonly referred to as malpractice insurance) mi... READ MORE >>
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