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L Squared Insurance Agency Blog: zero dollar

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Many attorneys are surprised to find that attorney malpractice insurance policies have a deductible.  The deductible may be mandated by the underwriter to address small frequent claims or chosen by the insured to reduce premiums or claim costs. READ MORE >>

Who wouldn’t want a legal malpractice insurance policy that wiped out the deductible?  To make doubly sure that you never have to pay a deductible, why not have an policy that has a zero dollar deductible and 1st dollar defense.  This is why you cannot have both. READ MORE >>

There are many different deductible options; some are packaged into the policies some are provided as an additional charge. 1.       Zero Dollar Deductible—this is listed 1st, as with a zero dollar deductible the options list after this do not apply. READ MORE >>

1st dollar defense (FDD) is sometimes called a Loss Only Deducible. What ever the name the meaning is the same.  Certain professional liability insurers for attorneys and accountants offer this coverage.   With FDD the insured is only responsible for the deductible if there is an indemnity payment required on the claim. READ MORE >>

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