L Squared Insurance Agency Blog: malpractice insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, November 1, 2022 Attorney malpractice insurance paid via installments by financing with a premium finance company or direct bill payments through the insurer helps manage cash flow. Problems happen when a law firm allows their attorney malpractice insurance to cancel for premium non-payment. READ MORE >>
Monday, October 31, 2022 A law firm with claims, disciplinary activity, insurance coverage non-renewed, or rescinded, plan to provide insurance carrier loss runs for quoting and/or binding new coverage. Insurance carrier loss runs report(s) show claims reported to a malpractice insurer during the time the firm was insured with that insurer. READ MORE >>
Thursday, October 27, 2022Regardless of experience level, dentists and other oral health care professionals may encounter lawsuits arising from their services. Dental malpractice insurance can provide essential coverage for your practice, career and patients in these situations. READ MORE >>
Wednesday, October 26, 2022 An attorney malpractice claim resulted in a loss of over $200,000. Unfortunately, the attorney only had a policy limit of $100,000 per claim. The insurer wrote their check(s) for $100,000 and close their claim file. The insurer fulfilled their contract. The attorney defended themselves after that and paid any additional damages due. READ MORE >>
Tuesday, October 25, 2022 Upon receiving a subpoena for information or to testify take a deep breath and then notify your malpractice insurance. This benefit is a 2-edge sword. Responding to the subpoena without notifying your insurer could get a malpractice claim denial. READ MORE >>
Monday, October 24, 2022 Attorney Malpractice Insurance policies are not “All Risk” insurance contracts. It is important to know what your policy covers. This question often asked occurs after the attorney is either threatened with sanctions or receiving a claim denial for sanctions. READ MORE >>
Friday, October 21, 2022 My agent stated that the premium increase was because of “step rating.” Lawyers Professional Liability policies are Claims-Made Policies. Legal Malpractice Insurance Claims-Made Policies are Step Rated. Your initial lawyers policy is written without prior acts coverage. READ MORE >>
Thursday, October 20, 2022 Attorneys may choose to go without malpractice insurance in the mistaken belief that their close relationship with clients makes them immune to claims. An attorneys may believe that the chances of facing a claim are low. But consider that the average cost of defending a malpractice claim exceeds $80,000. READ MORE >>
Tuesday, October 18, 2022 Commonly part of the policy disciplinary coverage is found on admitted and a few non-admitted Legal Malpractice Insurance policies. Insurers that do not offer disciplinary coverage as part of their standard policy seldom will endorse it on. READ MORE >>
Tuesday, October 18, 2022 Prior acts coverage and the ‘claims-made’ policy form are misunderstood malpractice insurance concepts. Misunderstanding these concepts costs professionals millions of dollars in coverage every year. There are two basic property and casualty insurance forms; the ‘occurrence’ policy form and the ’claims-made’ policy form. READ MORE >>
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