L Squared Insurance Agency Blog: prior acts coverage
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 13, 2022 Avoid losing your prior acts coverage. Many professionals are making career decisions this year. Whether starting out on a new journey as a solo practitioner or forming new partnerships or joining existing partnerships protect your past acts. 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, September 20, 2021Without proper attention during the dissolving and forming of law firms with legal malpractice claims-made insurance policies can cost coverage. Understand the need for making sure that past acts are covered. While purchasing an extended reporting period endorsement (ERP) can be costly, it is often the best way for covering an attorney’s past acts. READ MORE >>
Thursday, July 22, 2021We often tell insured how important prior acts coverage is, but what does it cover? Attorney malpractice insurance is written on a ‘Claims-made’ policy form. ‘Claims-made’ coverage in its purest form only provides coverage for covered acts that that occurred and were reported during the policy period. READ MORE >>
Thursday, February 4, 2021Because attorney malpractice insurance is written on a claims-made policy form, the prior acts date is important to determine if there is coverage for an act that may have occurred many years ago. To determine if the claims made policy covers the loss, the claims department checks: 1. READ MORE >>
Wednesday, April 18, 2018Question from Attorney: Will you write an Attorney Malpractice Insurance Policy for me without prior acts coverage? I currently have prior acts coverage and want to renew without any prior acts coverage to save money. I do not want to purchase a Tail or Extended Reporting Period Endorsement from the incumbent insurer. READ MORE >>
Wednesday, July 24, 2013One of the most difficult concepts for purchasers of professional liability insurance to grasp is the meaning of “prior acts coverage” and “claims-made policies." As the case of Christ Academy v. READ MORE >>
Wednesday, July 24, 2013One of the most difficult concepts for purchasers of professional liability insurance to grasp is the meaning of “prior acts coverage” and “claims-made policies." As the case of Christ Academy v. READ MORE >>
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