L Squared Insurance Agency Blog: malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
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 >>
Monday, October 26, 2020Your law firm is closing. The firm has maintained attorney malpractice insurance since the firm’s inception. But remember that all attorney malpractice insurance policies sold in the USA are claims-made coverage. When the last policy terminates so does your past acts coverage unless you have an Extended Reporting Period Endorsement attached to the policy. READ MORE >>
Wednesday, October 21, 2020There are no standard policy forms for Attorney Malpractice Insurance policies. Even though the policy wording is different, they cover similar risks and exposures. But the devil is in the details. A perfect example is the definition of Insured. READ MORE >>
Tuesday, April 21, 2020When the economy declines, attorney malpractice claims rise. Following every recession when people lose money, they look for someone to blame. Mistakes in paperwork or an error in judgement is not a problem when there is no economic loss. With an economic loss, even when there is no legal malpractice, does not prevent claims from being filed. READ MORE >>
Wednesday, January 29, 2020Professional Solutions Insurance Company (PSIC) wrote their Attorney Malpractice Insurance using the program name Attorney Shield. Carolina Casualty Insurance Company (CCIC) purchased the book of business and for renewals starting with effective dates on or after 1/1/2020, are offering renewal terms. READ MORE >>
Friday, January 24, 2020 With Professional Solutions Insurance Company (PSIC) dropping Lawyer s Professional Liability Insurance what happens to the “Free” Retirement Tail? If PSIC has issued the non-practicing extended reporting period endorsement (ERP) attached to your policy, then you have nothing to worry about. READ MORE >>
Wednesday, January 22, 2020Received a non-renewal notice that Professional Solutions Insurance Company (PSIC) Attorney Shield is getting out of Attorney Malpractice Insurance, now what? L Squared Insurance Agency was one of the larger writers of PSIC Attorney Shield Malpractice Insurance. In fact, we were one of the 1st agencies to write for them. READ MORE >>
Wednesday, December 18, 2019Waiting till the last minute to buy your Christmas gifts might save you money. But waiting till the last minute to renew your attorney malpractice insurance likely will cost you money. Unlike many other types of insurance, malpractice Insurance cannot be bound without the malpractice insurer’s specific application. READ MORE >>
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