L Squared Insurance Agency Blog Page 124
View the latest blog posts from L Squared Insurance Agency.
Friday, June 23, 2017Cyber Insurance is a fairly new product with no standardization between insurance carriers, much of the cyber policy language has yet to be subjected to a ‘real world’ review in the courts. Not all cyber policies are created equal and great care needs to be taken to make sure that the coverages selected and the language in the policy meet the insured’s needs. READ MORE >>
Thursday, June 22, 2017Legal Outsourcing is a growing trend in the practice of law. This allows law firms to expand their practice when needed without taking on the fix expenses associated with hiring addition staff. But Legal Outsourcing does add additional risk and exposures to firms. READ MORE >>
Wednesday, June 21, 2017Recently a claim was made because a business deal was going bad. This could be a covered act if the lawyer or accountant were acting in their professional capacity and providing professional services. But in this case it was the insured accountant that had bought a non-accounting related business personally with nonmember partner from outside the firm. READ MORE >>
Wednesday, June 21, 2017According to a BBC Report Apple Mac Computers are now being targeted by ransomware and spyware. To read this articleClick Apple Mac Ransomware READ MORE >>
Tuesday, June 20, 2017Claims made policies normally contain a prior acts date. Firms face a dilemma when they have trouble renewing claims made coverage at a ‘reasonable’ price. Sometimes it is tempting to renew coverage without the prior acts being maintained to save money. READ MORE >>
Monday, June 19, 2017Policy premium and forms are very important when selecting a Professional Liability Insurance policy. But there is much more that an Attorney or Accountant should be concerned about when selecting a malpractice insurance carrier. Thinking that that you are asking all the right questions when asking what the AM Best rating is for insurance carriers? READ MORE >>
Friday, June 16, 2017In Errant Gene Therapeutics, LLC v. Sloan-Kettering Institute for Cancer Research, a protective order stated:
“Confidential and Attorneys’ Eyes Only information shall be used by the Receiving Party solely for the purposes of preparation for trial, pretrial proceedings, and trial... READ MORE >>
Thursday, June 15, 2017In Continental Casualty Company (CNA) v Joseph J Boughton Jr, CNA was allowed to rescind coverage even after CNA agreed to pay $12,500 to reimburse one of the accounting firm’s owners for his legal costs. The CPA firm Marshall Granger & Co LLP was jointly owned by Mr. Laurence M Brown & Ronald J Mangini. READ MORE >>
Tuesday, June 13, 2017Formal Opinion 477 provides new guidelines when using e-mail communication with clients. The new standard balance the protection levels needed when using electronic communication with clients. The standard of ‘reasonable effort’ to unauthorized access of internet client communication needs to be followed. READ MORE >>
Monday, June 12, 2017With cyber-attacks frequency increasing, we continue to blog about the need for Cyber Insurance/Data Breach Coverage. But just what policy should you buy? Unfortunately there is no right answer to that question. With Cyber Insurance being very new there is no policy or coverage standardization. READ MORE >>
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