L Squared Insurance Agency Blog: malpractice
View the latest blog posts from L Squared Insurance Agency.
Wednesday, April 24, 2024 Saying that client fee suits are a leading malpractice claims cause might be a little misleading. Underlying reasons for the payment issues may be the cause. Studies suggest that client fee suits cause 33% of the malpractice claims. READ MORE >>
Thursday, April 11, 2024 There are certain attorney malpractice insurance policies carrying large liability limits and large deductibles that allow larger law firms to manage certain claims below their retention (deductible). For the other 99% of law firms this is not the case. READ MORE >>
Monday, April 1, 2024 The first question often asked is how much does attorney malpractice coverage cost? Don’t get me wrong, it is smart to price compare different attorney malpractice insurers. Just looking at the cost and not comparing coverage may mean paying for insurance that does not properly cover your law firm. READ MORE >>
Friday, March 22, 2024 A little discussed issue is the remaining Extended Reporting Period (ERP or Tail) aggregate policy limit being depleted (Burning the Limit). An ERP is attached to the last inforce policy. The ERP endorsement does not change the terms of the policy or reinstate policy liability limits used during policy term. READ MORE >>
Thursday, March 21, 2024 Attorney malpractice insurance uses a claims-made policy form. This is an important concept when considering reducing coverage limits. Unlike an occurrence policy form where the policy form used to settle a claim is when the act occurred. READ MORE >>
Monday, March 11, 2024 Careful planning by an attorney may save the attorney thousands of premium dollars when contemplating retirement (leaving private practice). Not all insurers offer a retirement tail (ERP or Extended Reporting Period Endorsement). Purchasing the same coverage may cost over 3 times the expiring premium. READ MORE >>
Friday, February 23, 2024 The first question often asked is how much does attorney malpractice coverage cost. Don’t get me wrong, it is smart to price compare different attorney malpractice insurers. Just looking at the cost and not comparing coverages may mean paying for insurance that does not properly cover your law firm. READ MORE >>
Wednesday, February 21, 2024 The reality of attorney malpractice insurance policies is paying the deductible when a claim is made against the law firm. For an additional premium Insurers may offer for 1st dollar defense which addresses claims expenses for claims with no indemnity payment made or an aggregate deductible for multiple claims brought in any one policy year. READ MORE >>
Monday, February 19, 2024 The reality of attorney malpractice insurance policies is paying the deductible when a claim is made against the law firm. For an additional premium Insurers may offer for 1st dollar defense which addresses claims expenses for claims with no indemnity payment made or an aggregate deductible for multiple claims brought in any one policy year. READ MORE >>
Monday, February 19, 2024 The reality of attorney malpractice insurance policies is paying the deductible when a claim is made against the law firm. For an additional premium Insurers may offer for 1st dollar defense which addresses claims expenses for claims with no indemnity payment made or an aggregate deductible for multiple claims brought in any one policy year. READ MORE >>
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