L Squared Insurance Agency Blog: attorney malpractice
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 15, 2020As a law firm’s practice evolves through the years, so may its insurance needs. Changes in a firm’s practice areas and clients might require different liability insurance limits than the firm required in the past. Raising policy limits to meet a law firms needs causes no coverage issues. READ MORE >>
Tuesday, October 13, 2020Moving a law practice to a different state opens an exciting new chapter in life. Make sure to add insurance to your moving checklist. As with the practice of law, property and casualty insurance is regulated by each state. Insurers and insurance policies can differ by state. READ MORE >>
Friday, October 9, 2020Attorney Malpractice Insurers cap their loss exposure by limiting the liability limits for a given law firm. This is especially true for smaller law firms. For instance, if a solo practitioner pays $3000 for a $2million policy and has a ‘limits’ loss it takes hundreds of other firms without any losses just to break even. READ MORE >>
Monday, September 28, 2020When confronted with a situation that might result in a malpractice claim, most lawyers, understandably, do not know what to do. They may be tempted to ignore the situation or try and fix the problem on their own. In many cases, a potential malpractice claim can be repaired. READ MORE >>
Wednesday, September 23, 2020There can be strings attached to a "free" retirement tail. The attorney takes the “free” non-practicing Extended Reporting Period Endorsement (ERP/Tail) on his Attorney Malpractice Insurance Policy but decides to start practicing law again. What is the impact on the ERP? READ MORE >>
Thursday, September 3, 2020Attorneys back-up their computers without complaint, but a few have a real problem with having a backup attorney. Kind of like wearing a mask these days, it is for your own protection. Malpractice insurer’s view backup attorneys for a solo practitioner as essential to help mitigate preventable legal malpractice exposures. READ MORE >>
Wednesday, August 26, 2020Excerpt from the August 26, 2020 Attorney Protective Webinar of Top Ten Tips 1. Be consistent -establish consistent policies and procedures for billing & collection that all attorneys and staff must follow 2. READ MORE >>
Tuesday, August 25, 2020As the Pandemic continues many clients cannot pay all their bills. Legal fees are a lower priority to food and rent. So, suing clients to collect legal fees is likely to become more common place. A note of caution, suing clients for unpaid legal fees can cause your attorney malpractice insurance premiums to increase. READ MORE >>
Wednesday, August 19, 2020The Attorney Malpractice “Automatic’ Extended Reporting Period (60-Day AERP) is not what it seems. More than one attorney has assumed that they have 60 days past expiration to renew or get new coverage because a 60-Day AERP is part of their policy. Nothing could be further from the truth. READ MORE >>
Monday, July 13, 2020The assumption that your attorney malpractice policy will not answer in case of a criminal complaint may be invalid. Surprisingly in the current Wesco attorney malpractice policy defense coverage is found in the ‘exclusion section IV’ for the allegations: A. READ MORE >>
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