L Squared Insurance Agency Blog: malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Thursday, March 21, 2019For years some professionals go without worrying about malpractice insurance coverage and the protection that comes with having their past acts covered. But then there is a changing of the guard and the attorney or accountant calls because they need past acts protection. READ MORE >>
Thursday, March 7, 2019Attorney Malpractice Insurance policies are generally written as a ‘Duty to Defend’ policy. With a Duty to Defend policy the insured has an expectation that if a claim is brought against the insured that the insurer will step up to the plate and provide a defense for the insured. READ MORE >>
Thursday, February 28, 2019Over the years we have run into this coverage problem that unknowingly creates a lack of coverage for an attorney. Just like a sleeping baby, no one screams until the baby is awakened. A multi-member law firm has a tenant attorney staying in their office space. READ MORE >>
Thursday, February 28, 2019With law firms trying to reduce their costs by avoiding hiring new associate attorneys many firms have turned to hiring contract or appearance attorneys either on a short- or long-term basis. This allows the law firm to take on more legal work without having to permanently increase its fixed costs. 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 >>
Tuesday, February 19, 2019 The conundrum some attorneys face is that after they retire, they really did not want to fully retire. An old client or a new client comes along and wants the attorney to do some part-time legal work. While a free non-practicing Extended Reporting Period Endorsement (ERP)Tail is a valuable endorsement, it can be made worthless. READ MORE >>
Thursday, February 14, 2019Have blogged about this before. Attorney’s close to retirement having qualified for a free non-practicing ERP are shopping their malpractice insurance. Saving a couple hundred dollars today could cost thousands tomorrow. 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 >>
Wednesday, February 6, 2019What do you mean that Full Prior Acts might not mean Full Prior Acts. Legal Malpractice Insurance policies are similar but there is no common meaning to the terms. Full Prior Acts is a term that is often misunderstood and changes from insurer to insure as to its meaning. READ MORE >>
Thursday, January 24, 2019Individuals that have not had a claims-made policy often do not understand the importance of maintaining prior acts. Many think it is just a ploy for the insurer to collect more money. The reality is that claims-made insurance policies are almost worthless without the proper maintenance of prior acts coverage. READ MORE >>
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