L Squared Insurance Agency Blog: erp
View the latest blog posts from L Squared Insurance Agency.
Friday, December 23, 2016Background: This firm had 6 attorneys at the beginning of the policy year and is going to dissolve on December 31, 2017. The firm is planning on purchasing a 1 year Extended Reporting Period Endorsement (ERP) for the firm. Their current carrier Medmarc Casualty’s policy allows the purchase of individual attorney and firm ERP’s. READ MORE >>
Wednesday, December 21, 2016Background: This firm had 6 attorneys at the beginning of the policy year and is going to dissolve on December 31, 2017. The firm is planning on purchasing a 1 year Extended Reporting Period Endorsement (ERP) for the firm. Their current carrier Medmarc Casualty’s policy allows the purchase of individual attorney and firm ERP’s. READ MORE >>
Tuesday, September 27, 2016We continue to be approached by attorneys that are close to retirement that are “shopping” their professional liability insurance. In fact yesterday we had two such occurrences from solo attorneys close to retirement. READ MORE >>
Tuesday, September 20, 2016Many attorneys are very frustrated when they 1st breach the subject of using the “free” non-practicing Extended Reporting Period Endorsement (ERP or Tail) with the Attorney Malpractice Agent. If the agent tells them the cold “truth”, it can change the attorney’s plans about how and when to retire. READ MORE >>
Friday, September 16, 2016Please see the answers to your questions below. I know that this can be frustrating, but the extended reporting period provisions of any carrier’s lawyers professional liability insurance are an area that no insurance carrier will modify. READ MORE >>
Thursday, September 15, 2016As we go through the year, many attorneys that had been with National Union (AIG) for the attorney malpractice had stayed with them to take advantage of the “free” Non-practicing Extended Reporting Period Endorsement (ERP). READ MORE >>
Monday, August 29, 2016It is not always in the best interests of a solo attorney to switch attorney malpractice insurance carriers if they are close to retirement. The savings of a couple of hundred dollars could cost them thousands of dollars later. See below for the attorney's inquiry and L Squared's response: 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 >>
Thursday, May 26, 2016Many people think that there is a separate policy issued once “Tail” is purchased on a Lawyers Professional Liability Insurance Policy. This is not the case. Generally the endorsement is just one sheet of paper and only one or 2 paragraphs long. There is not a separate policy that is issued. READ MORE >>
Thursday, May 19, 2016Attorneys are very intelligent creative people. Lawyers Professional Liability Insurance Extended Reporting Period Endorsements (ERP or Tail) are expensive. In trying to figure out ways to avoid buying a Lawyers Professional Liability Insurance Extended Reporting Period Endorsement and save money, Lawyers have come up with some very creative solutions. READ MORE >>
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