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View the latest blog posts from L Squared Insurance Agency.
Friday, July 29, 2022 Attorney Malpractice Insurance Policies are written on a ‘claims-made’ policy form. A claims-made policy form requires that the covered act must be reported (claim made) during the policy period or during the extension of the reporting period (ERP/Tail). READ MORE >>
Tuesday, July 12, 2022If your firm receives a demand letter, I have good news for you: Your firm has not been sued (yet). However, a lawsuit could be on the horizon. A demand letter often precedes a lawsuit and usually represents an opposing party's desire to resolve a dispute before involving the court system. READ MORE >>
Thursday, March 31, 2022Prior acts along with a ‘claims-made’ policy form are two of the most misunderstood concepts with professional liability insurance. It is a shame, as this misunderstanding costs professionals millions of dollars in coverage every year. READ MORE >>
Thursday, October 14, 2021Letting your Attorney Malpractice insurance lapse has consequences. Attorneys sometimes see the ‘Automatic’ Extended Reporting Period Endorsement section in many malpractice policies and think this is a grace period. READ MORE >>
Wednesday, September 22, 2021Cyber Security is a must of all businesses. Cyber Insurance is a key piece of Cyber Security. Cyber Insurers are now starting to require the implementation of email authentication. The following are controls that with help of a cyber security vendor can be implemented within 24 hours. READ MORE >>
Thursday, July 29, 2021When client expectations differ from the result it’s not uncommon for a client to sue and/or allege attorney malpractice. Beginning with the initial client intake explain the legal services provided and never leave the provided services open to interpretation. READ MORE >>
Tuesday, May 4, 2021Your law firm is closing. You decide to purchase an Extended Reporting Period Endorsement (ERP/Tail) to cover past acts. This endorsement is attached to your last in-force policy. Other than amending the reporting period (for a specified time from 1-year to unlimited), the endorsement does not normally amend any coverage or policy terms. READ MORE >>
Friday, April 23, 2021 A Brand New Service For Alta Pro RPG Member Tuesday, May 4th 12 pm CST Lunch and Learn Join us for the inaugural episode of our new live interactive series. the Alta Pro Risk Pro, Jay Reeves, is in his office to answer your questions live. READ MORE >>
Wednesday, April 21, 2021Attorney Malpractice policies are written on a claims-made policy form. With claims-made policy forms, when the policy terminates so does the coverage and there is no coverage for claims reported after the coverage termination date. READ MORE >>
Tuesday, April 20, 2021Many years ago, a law firm’s attorney malpractice insurance was being non-renewed because of claims severity and frequency. No malpractice insurer would provide a replacement attorney malpractice Insurance policy with prior acts. This 13 member firm was looking at premiums of around $125,000 for a million dollars coverage without prior acts. READ MORE >>
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