L Squared Insurance Agency Blog: professional liability
View the latest blog posts from L Squared Insurance Agency.
Wednesday, October 5, 2016All law firms should carry a business owners and commercial auto policies to protect your assets from the business side perils of your law firm, ie property damage, general liability, business interruption insurance, personal injury protection. These commercial insurance policies exclude the practice side of your law firm. READ MORE >>
Friday, September 30, 2016We are frequently asked why with an Attorney Malpractice policy they cannot purchase a Commercial Umbrella Insurance policy or already have an Commercial Umbrella Policy that they purchased from their Business Owners Insurance carrier or a separate standalone Commercial Umbrella Insurance Policy ... READ MORE >>
Thursday, September 29, 2016There appears to be many mistaken beliefs about what is and is not covered when a firm has an of counsel attorney working for them. And believing something is covered versus being covered are two different things. Of Counsel doing no work for the law firm 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 >>
Monday, September 26, 2016All attorney malpractice policies sold in the United States are claims made policies. Conceptually the carrier that is on the risk is the carrier and policy form that will defend the insured should a claim be made during the policy period. This is providing that the act occurs after the prior acts date. READ MORE >>
Friday, September 23, 2016Career Coverage is offered by some Attorney Malpractice Insurance carriers. This is usually done by a endorsement to the current firm’s policy or a separate standalone policy. The purpose of Career Coverage is to offer prior acts coverage for work done by an individual attorney prior to their association with the current law firm. READ MORE >>
Thursday, September 22, 2016As with many terms with Professional Liability Insurance, there is not common meaning to the term. “Full Prior Acts” is a term that is often misunderstood. Many insureds assume that “Full Prior Acts”, actually means that the insured attorney is covered from the inception of their practice. 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 >>
Monday, September 19, 2016Ohio recently passed a medical marijuana law. Many attorneys were submitting inquiries about the ethics of attorneys being able to provide legal services to medical cultivators, processors and dispensaries or clients that wanted to do business with these entities. 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 >>
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