L Squared Insurance Agency Blog: step rating
View the latest blog posts from L Squared Insurance Agency.
Tuesday, February 14, 2023 Step Rating is not defined in legal malpractice policies. Step rating is the major premium increase cause in the first one to five years of continuous claims-made insurance coverage. With claims-made coverage the only policy that you can report a claim to is the current inforce policy. 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, July 15, 2021 READ MORE >>
Monday, October 19, 2020 Step Rating is not defined in an attorney malpractice policy. But at inception of your 1st policy, it is the major reason that your premium will increase and continue to go up for the first few years. Attorney Malpractice Insurance policies are written ‘claims-made’ policy form. READ MORE >>
Wednesday, May 20, 2020With all the disruptions and loss of income because of COVID-19 the last thing you want is for your attorney malpractice insurance policy premium increasing, especially by a lot. When I asked why my attorney malpractice insurance policy premium went up, the agent stated that it was because of ‘step rating’. READ MORE >>
Wednesday, April 11, 2018Insured asks: What is ‘Step Rating’? I did not find term defined or mentioned in my policy. Response: Attorney Malpractice Insurance policies are written ‘claims made’ policy form. Most Claims Made Policies are Step Rated. READ MORE >>
Tuesday, February 6, 2018When I asked why malpractice insurance policy premium went up, the agent stated that it was because of “step rating”. What is step rating and why did my premium go up? Most malpractice insurance policies are Claims Made Policies. And most Claims Made Policies are Step Rated. READ MORE >>
Wednesday, April 20, 2016Insured asks what is “Step Rating”? Did not find term defined or mentioned in my policy. Response: Lawyers Professional Liability Insurance policies are written “claims made” policy form. Most Claims Made Policies are Step Rated. READ MORE >>
Monday, March 28, 2016When I asked why my lawyer’s professional liability policy premium went up, the agent stated that it was because of “step rating”. What is step rating and why did my premium go up? Lawyers Professional Liability policies are Claims Made Policies. Most Claims Made Policies are Step Rated. READ MORE >>
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