L Squared Insurance Agency Blog: 10_2016
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 20, 2016Most small-business owners (78 percent) still don’t have a cyberattack response plan, even though more than half (54 percent) were victim to at least one type of cyberattack. About 60 percent of those who did experience a cyberattack said it took longer than a month to recover. READ MORE >>
Thursday, October 20, 2016BY CHRISTINE SIMMONSPUBLISHED: OCT 11, 2016 From Law.com Legal Malpractice Claims Settling Faster, ABA Study Suggests Legal malpractice claims have been resolving sooner and seeing fewer resolutions where no money is paid out, according to results of an ABA study that suggest insurers and law firms are settling claims earlier as litigation costs go up. READ MORE >>
Thursday, October 20, 2016One of the most preventable attorney malpractice claims is a statute of limitations claim. The initial steps at client intake can help avoid or minimize your risk of being sued. The firm needs at intake determine if the firm is bumping up against a statutes of limitation issue. 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 >>
Monday, October 17, 2016Although it comes up infrequently, occasionally you will receive a Subpoena. Even though it is a benefit in many policies this is a 2 edge sword. Responding to the subpoena without notifying your malpractice insurance carrier could down the road lead to a malpractice claim's denial. READ MORE >>
Friday, October 14, 2016 Malpractice Insurance—Coverage for Sanctions There is no coverage for sanctions or fines under a Professional Liability Insurance policy. In most cases sanctions or fines would not be insurable anyway. READ MORE >>
Thursday, October 13, 2016The time to check your malpractice coverage is not after the punitive damage award against you. But occasionally we are asked if a particular malpractice insurance policy covers punitive damages. Because a punitive damage awards are normally awarded for egregious acts few malpractice policies do but many do not. READ MORE >>
Wednesday, October 12, 2016Many law firms do not answer these questions correctly on the Lawyers Professional Liability Insurance application. Some law firms might perceive this to be no big deal. When not answered correctly, it could lead to claims being denied (an extreme case), but likely additional underwriting questions and/or a premium that may be much higher or lower than it should be. READ MORE >>
Tuesday, October 11, 2016Malpractice Insurance – Contractual Liability the contract that is not binding Occasionally we get a client that attempts to tie the insurance company to a contract that the client has signed, in hopes that the insurance carrier will be bound to the contract. Or there is a misunderstanding of the Contractual Liability Exclusion. READ MORE >>
Monday, October 10, 2016In 2003, the soldiers and Sailors Civil Relief Act was re-written and the name changed to Servicemembers Civil Relief Act. Basically the act applies to any service members including reservists and National Guard members that are called to active duty. READ MORE >>
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