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L Squared Insurance Agency Blog: malpractice insurance

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Small firm attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with their clients makes them immune to claims. Other attorneys believe that the chances of facing a claim are low. The logic flaw is that small firm attorneys are just as likely to have a malpractice claim as their more high-profile peers. READ MORE >>

Attorneys that are forming new practices, either for the 1st time as a new in practice attorney or coming from a larger firm often confront application questions that do not make sense.  Malpractice Insurance Applications are retrospective questionnaires. READ MORE >>

Attorney Malpractice Insurance policies are not “All Risk” insurance contracts.  It is important to know what is covered in your policy.  Unfortunately, I normally get this question after the attorney is either threatened with sanctions or sanctions have been awarded: From Attorney READ MORE >>

Many law firms do not answer this attorney malpractice application question correctly.  Basically, the insurer wants to know what you did last year.  Emphasis on the ‘last’ year.     READ MORE >>

With some frequency professionals cite claims-made coverage that they had in the past as their current coverage.  Many seem to think that if the act occurred while coverage was previously inforce they still have coverage for that claim even if it was never reported to the insurer. READ MORE >>

In 2003, the Soldiers and Sailors Civil Relief Act was rewritten, and the name changed to Servicemembers Civil Relief Act.  Basically the act applies to any service members including reservists and National Guard members that are called to active duty. READ MORE >>

Every few months we have a law firm contact us about a judge that awarded attorney’s fees to the other party.  That award can be in the hundreds of thousands of dollars.  Many are under the false assumption that this is something normally covered under an attorney malpractice policy. READ MORE >>

2019 Webinar Series for Accounting Professionals A Risk Management Resource for Accounting Professionals READ MORE >>

This is a common question as to what the Innocent Insured Clause does? It is easy to misunderstand the meaning and intent of this clause in a policy. Deliberate or illegal acts are normally not insurable either by rule of law or the insurance language. READ MORE >>


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