L Squared Insurance Agency Blog Page 31
View the latest blog posts from L Squared Insurance Agency.
Thursday, February 23, 2023 One Stop Shopping for Accountant and Attorney Property and Liability Insurance Needs Why search the internet for every insurance need? As a nationwide agency, founded in 2002, insures over 4000 firms, L Squared Insurance Agency writes the following insurance Lines: READ MORE >>
Wednesday, February 22, 2023 1. “Cyber is already covered by other lines of insurance…” Cyber cover in traditional lines of insurance often falls very short of the cover found in a standalone cyber policy. While there maybe elements of cyber cover existing within traditional insurance policies, it tends to be only partial cover at best. READ MORE >>
Tuesday, February 21, 2023 Question 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 >>
Tuesday, February 21, 2023 Cyber Insurance has become a necessity in the modern business landscape as cyber crime continues to increase in number and sophistication. The average cost of a data breach in the United States currently amounts to $9.44 million. According to industry data, the global cost of cyber crime is expected to rise by $23. READ MORE >>
Monday, February 20, 2023 Periodically we receive requests to add a mortgagee to a legal malpractice policy. This occurs when a law firm lender requests a certificate of insurance for a loan that is being renewed or procured. The law firm gives our insurance agency name and e-mail so that the lender can contact us about adding a certificate for a mortgagee to an attorney malpractice insurance policy. READ MORE >>
Friday, February 17, 2023 Two attorneys are comparing the cost of their legal malpractice insurance for their law practices. One attorney is dismayed because their law firm insurance policy is twice the cost of the other law firm. Given that the firms have the same number of attorneys and both law practices are similar how can this be? READ MORE >>
Thursday, February 16, 2023 There is no standard attorney malpractice policy definitions wording. But the definitions wording is similar from policy to policy. But minor policy wording differences can be the difference between having coverage or paying for the claim out of your own pocket. READ MORE >>
Wednesday, February 15, 2023 The 1st year policy inception date establishes the claims-made prior acts date. This date should be maintained from renewal to renewal. Even if the insured firm switches insurers maintain the prior acts date. Attorney malpractice insurance uses a claims-made policy form. READ MORE >>
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 >>
Monday, February 13, 2023
EPLI – Every Business Should Carry This Coverage
What is Employment Practices Liability (EPLI) Insurance?
Employment Practices Liability Insurance (EPLI) will protect a business against claims that allege actions from first and third-parties of wrongful termination, discriminati... READ MORE >>
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