L Squared Insurance Agency Blog: professional liability insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, May 29, 2018Attorney Malpractice policies are written on a claims-made policy form. With claims-made policy forms, when the policy terminates so does the coverage and there is no coverage for claims reported after the coverage termination date. READ MORE >>
Friday, May 25, 2018A number of years ago a law firm was being non-renewed by their current attorney malpractice insurer because of claims severity and frequency. This meant that it was prohibitively expensive to find a replacement attorney malpractice Insurance policy that covered their prior acts. READ MORE >>
Wednesday, May 23, 2018Attorneys are very intelligent creative people who sometimes do dumb things. Attorney Malpractice Extended Reporting Period Endorsements (ERP or Tail) are expensive. Some firms have gone to great lengths to figure out ways to avoid buying an ERP to save money. READ MORE >>
Tuesday, May 22, 2018Attorney malpractice policies are not standardized. There is no ISO attorney malpractice policy form. Some law firms attempt to address the policy coverage differences by having an agent do a side by side policy comparison. READ MORE >>
Friday, May 18, 2018I was meeting with the partners of a medium sized insurance defense law firm a few years ago, trying to understand why they were paying what seemed about 3 times what the attorney malpractice premium should be. According to the practice area grid (AOP) the firm did 100% insurance defense. READ MORE >>
Wednesday, May 16, 2018Question from Attorney: I am still looking at alternatives for renewing my attorney malpractice coverage and cannot get firm terms until I get Insurance Carrier Loss runs from my incumbent insurer. If I am a “few” days late renewing coverage is that going to be a problem? READ MORE >>
Monday, May 14, 2018Year after year you are required to complete a malpractice application. It is enough to make you want to scream. Accountant and attorney malpractice insurers generally want an updated application every year. But Business Owners, Workers Compensation and Commercial Auto insurers renew each year without an application. READ MORE >>
Friday, May 11, 2018Because attorney malpractice insurance is written on a claims made policy form the prior acts date is important to determining if there is coverage for an act that may have occurred many years ago. The first three things that an insurer looks at to determine if the claims made policy covers the loss are: READ MORE >>
Friday, May 11, 2018Come visit Mandy & Beth at our booth at the Annual Michigan Association for Justice Convention! READ MORE >>
Wednesday, May 9, 2018According to the Orange County Register, California Defense Attorney James Crawford got into a brawl with District Attorney Investigator Dillon Alley on the 10th Floor of the Santa Ana Courthouse. There were conflicting stories about who started the brawl. Different witnesses stated that each party had thrown the first punch. READ MORE >>
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