L Squared Insurance Agency Blog: claims made
View the latest blog posts from L Squared Insurance Agency.
Friday, December 16, 2016The declarations page outlines the key elements of your malpractice insurance coverage (LPL). Even though there is no standard LPL policy at a bare minimum checking the items listed below is essential. If you read nothing else, read your declarations page. Key items to review are: 1. READ MORE >>
Friday, December 9, 2016Insurance policies can lapse either through administrative issues or lack of funds. Letting coverage lapse is never a good thing. Whether it is Business Auto, Business Owners Coverage, Professional Liability Insurance or Workers Compensation letting your insurance coverage lapse can be costly. READ MORE >>
Monday, October 31, 2016As the law firms try to address their costs by avoiding hiring new associate attorneys many firms have turned to hiring contract attorneys either on a short or long term basis. This has advantages to the law firm by being able to take on more legal work without having to permanently increase its fixed costs. READ MORE >>
Tuesday, October 18, 2016All Lawyers Professional Liability Insurance policies sold in the USA are claims made policies. This continues to be an issue that comes up time and again with attorneys that falsely believe if they let their coverage lapse that past acts will be covered by the lapsed Attorney Malpractice Insurance Policy. READ MORE >>
Wednesday, September 28, 2016Claims made insurance policies are designed to provide coverage for covered acts that a claim is made and reported during the policy period. An unendorsed claims made policy generally only provides coverage for the current policy term for covered acts that occurred during the policy period and where the claim is made and reported during that term. READ MORE >>
Wednesday, September 21, 2016Brief background Most property & casualty insurance policies are occurrence policies. With an occurrence policy, the policy that is on the risk at the time that a covered act “occurs” is the policy that the claim will be settled under, regardless of when the act is reported (barring policy provisions and/or statute of limitations issues). READ MORE >>
Tuesday, July 26, 2016There are a number of things that need to be maintained if you switch professional liability insurance carriers. Some of those items are: 1. Make sure the effective date of the replacement policy matches the expiration date of your current coverage. READ MORE >>
Thursday, July 21, 2016Attorney Malpractice Insurance is not like homeowners, auto, or business insurance. You need an agent that is trained and experienced in Attorney Malpractice Insurance. Here are a few of the reasons: 1. Most of the Malpractice Insurance carriers are not companies that many people know. READ MORE >>
Tuesday, July 12, 2016Attorneys continue to be confused with claims-made coverage as to if a claim is covered. If the coverage is not in force at the time a claim is made there is no coverage. Some attorneys assume that claims-made coverage is like an occurrence policy in that if a covered act occurred during the time that coverage was inforce you can make claim at any time in the future. READ MORE >>
Friday, June 17, 2016For a solo attorney, once the attorney is suspended from the practice of law, the lawyers professional liability insurance carrier will not renew insurance coverage. The attorney malpractice insurance policy covers the work of a licensed attorney. READ MORE >>
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