L Squared Insurance Agency Blog: lawyers professional liability insurance
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Monday, March 21, 2016It is not possible to write a new policy to cover a suspended attorney with a Lawyers Professional Liability Insurance policy. Most policies have an outright exclusion for a suspended attorney. Although some Lawyer Professional Liability Insurance Carriers will permit the covera... READ MORE >>
Friday, March 18, 2016Law firms designate the completion on the Lawyers Professional Liability application to many different people. This varies from the Managing Partner to the beginning associate or newest clerk in the office. READ MORE >>
Thursday, March 17, 2016Thank you, Tracy. We use retainer agreements. Please define a non-engagement and disengagement letter and let me know how they are used. Thank you. I’ve pulled this information from http://www.nysba.org/ManagingYourPractice/ READ MORE >>
Wednesday, March 16, 2016Question from Attorney: I am a full time employee at a large company. I do an occasional will or trust on the side. Probably less than 5,000 a year in revenue. Is there a minimal coverage for that? Should I get coverage for when i did have a practice? I sold it in December 2014. READ MORE >>
Tuesday, March 15, 2016All Lawyers Professional Liability Insurance policies have exclusions to some extent for acting as a Director or Officer of an organization. Attorneys need to be careful when being asked to sit on a board or act as an Officer of an organization to not jeopardize coverage. READ MORE >>
Sunday, March 13, 2016Lawyers Professional Liability Insurance (LPL) and Accountants Professional Liability (APL) Insurance claims made coverage ends at the policy/coverage termination. Lawyers Professional Liability Insurance Policies (LPL&APL) are generally written for the firm and coverage extents from the firm READ MORE >>
Tuesday, October 27, 2015Most professional liability insurance policies have a Retro Active date or Prior Acts date, few have Full Prior Acts or FPA. Full Prior acts is a type of claims-made liability policy that does not contain a retroactive date and therefore covers claims arising from acts that took place at any time prior — regardless of how far in the past. READ MORE >>
Wednesday, July 31, 2013The lawsuit by Christ Academy against Hermes Sargent Bates was only recently filed. Assuming the firm has adequate insurance limits, and there are no coverage disputes with the carrier, the insurance company will likely move quickly to control defense expenses and damages. READ MORE >>
Wednesday, July 17, 2013Law firms need to reapply for legal malpractice insurance every year. And on every application, whether it be for new business or a renewal policy, the law firm must answer questions about its client billings. Typical questions are: •How many times have you sued a client for fees in the past 5 years? READ MORE >>
Friday, October 28, 2011Myth #1: Since most NC lawyers buy their malpractice insurance from the same company, that company must have the best price. The truth is that many North Carolina lawyers are paying substantially higher premiums than competitors’ rates for a policy that provides substantially less coverage. READ MORE >>
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