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L Squared Insurance Agency Blog: retirement tail

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Please see the answers to your questions below each question: I know that this can be frustrating, but all attorney malpractice insurers’ extended reporting period (ERP/Tail) provisions are provisions that an insurer will not modify. READ MORE >>

Every year there are insurers that leave the Attorney Malpractice marketplace.   In some cases it is because their relationship with their managing general agent (MGA) or agent ended.  In others it is because the insurer decided to stop writing attorney malpractice insurance. READ MORE >>

As the New Year approaches this seems to the time of year that attorneys getting close to retiring start thinking about hanging up their shingles. Generally their income starts to drop and they start looking for ways to save money.  One of the quickest ways appears to be shopping the attorney malpractice insurance in hopes of getting a cheaper rate. READ MORE >>

Attorney Malpractice Insurance Policies are written on a ‘claims-made’ policy form.  A claims-made policy form requires that the covered act must be reported (claim made) during the policy period or during the extension of the reporting period (ERP/Tail). READ MORE >>

This is a frequently asked question.  Attorney takes the “free” non-practicing Extended Reporting Period Endorsement (ERP/Tail) on his Attorney Malpractice Insurance Policy and decides to start practicing law again at a later date.  What is the impact on the ERP?   READ MORE >>

I hate this discussion with attorneys.  As with many things in life there is no right answer.  Everyone likes ‘free’.  But ‘free’ does not always mean that there are no strings attached.   Attorney Malpractice Insurance for solo practitioners ‘free’ retirement tail can be a great benefit. READ MORE >>

Please see the answers to your questions below. I know that this can be frustrating, but the extended reporting period provisions of any carrier’s lawyers professional liability insurance are an area that no insurance carrier will modify. READ MORE >>

As we go through the year, many attorneys that had been with National Union (AIG) for the attorney malpractice had stayed with them to take advantage of the “free” Non-practicing Extended Reporting Period Endorsement (ERP). READ MORE >>

It is not always in the best interests of a solo attorney to switch attorney malpractice insurance carriers if they are close to retirement.  The savings of a couple of hundred dollars could cost them thousands of dollars later.  See below for the attorney's inquiry and L Squared's response: READ MORE >>

This is a frequently asked question.  Attorney takes the “free” non-practicing Extended Reporting Period Endorsement(ERP/Tail) on his Lawyers Professional Liability Insurance Policy and decides to start practicing law again at a later date.  What is the impact on the ERP?   READ MORE >>

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