L Squared Insurance Agency Blog: professional liability
View the latest blog posts from L Squared Insurance Agency.
Wednesday, January 4, 2017It is not uncommon for opposing attorneys to exchange during discover on a case. In today’s world more and more of it is done in an electronic form. Sometimes in its native electronic form that include metadata such as the document author, dates of creation-alteration and where the document was stored. READ MORE >>
Thursday, December 29, 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 >>
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 >>
Thursday, December 22, 2016This scam was done the old fashion way and brought in over $1.66 Million. Artashes Darbinyan and Orbel Hakobyan admitted to running a mass mailing scam through companies called Trademark Compliance Center(TCC) and Trademark Compliance Office (TCO). According to the Justice Department Website Link: 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, December 20, 2016We have covered this in the past, but the question continues to come up. A case in Alaska, ALPS v Ingaldson Fitzgerald PC, is another example of the courts refusing to force an insurance carrier to cover attorney’s fees. Awarded attorney’s fees normally are not covered under a Lawyers Professional Liability Insurance policy. READ MORE >>
Monday, December 19, 2016According to NBC News and The Wall Street Journal, a Minnesota Federal grand jury indicted lawyers Paul Hansmeier and John Steele of trying to extort money from victims who uploaded X-rated files to file-sharing sites Basically the shakedown stared by getting the internet addresses of the people that downloaded the X-rated movies. READ MORE >>
Friday, December 16, 2016The declarations page outlines the key elements of your malpractice insurance coverage (LPL). Even though there is no standard LPL policy at a bare minimum checking the items listed below is essential. If you read nothing else, read your declarations page. Key items to review are: 1. READ MORE >>
Thursday, December 15, 2016According to one ABA report 23% of law firms didn’t know if they had a data breach. This is a troubling statistic in that another ABA report stated that around 15% of all law firms have had a data breach. Today it is not so much “if” your law firm will have a data breach, but “when. READ MORE >>
Thursday, December 8, 2016Attorney Question: “Do you have coverage for Fraudulent Wiring Instructions?” Response: This can be a significant exposure to a law firm or title agency. Unlike in the past, now just by hitting a button, you can send millions of dollars out of your Trust account. READ MORE >>
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