L Squared Insurance Agency Blog: professional liability
View the latest blog posts from L Squared Insurance Agency.
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 >>
Wednesday, September 7, 2016Colorado Attorney agreed to aid in negotiating a judgement obtained against his in-laws. The in-laws live in Minnesota where a judgement was obtained against them for $2368.13 in favor of a condominium association. READ MORE >>
Saturday, September 3, 2016Every month or so we have a Law Firm that we insure that has hired a Suspended Attorney, one that was recently suspended or had other disciplinary actions. While it is the firm’s prerogative to hire anyone they want, they should know about the disciplinary actions prior to making an offer. READ MORE >>
Wednesday, August 31, 2016In the case of Westport Insurance v Mylonas, the attorney finds out true cost of not buying high enough Attorney Malpractice Liability Insurance Limits. First the Pennsylvania State court stated that coverage was limited to $500,000 in 2015. Now the US District Court of Pennsylvania has affirmed that decision on summary judgement. 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, August 26, 2016We work with many distressed firms to place Lawyers Professional Liability Insurance Coverage. Most of the time the firm is in the distressed or surplus lines market because of claims. Distressed firms depending how much work they are willing to put into the disclosing claims informat... READ MORE >>
Wednesday, August 24, 2016An important part of managing your attorney malpractice exposure is getting the proper Legal Management Software. The proper system software coupled with the procedures and standards being integrated into the software can go a long way in preventing a professional liability insurance claim. READ MORE >>
Friday, August 19, 2016With non E&O commercial insurance it is normal practice for Insurance carriers to require loss runs to provide a quotation. Insurance carrier loss runs are a report produced by an insurance carrier that provides information on all claims that have been reported to an insurance carrier during the time that the insurance carrier provided insurance coverage. READ MORE >>
Thursday, August 18, 2016Choosing lawyers professional liability insurance is one of the most important decisions you can make for your firm. The following are some helpful tips: 1. Evaluate the whole program Keep in mind the carrier is a very important piece, but not the only piece. You need to evaluate the entire program. READ MORE >>
Wednesday, August 17, 2016Many Law Firms and other small organizations are concerned about outside threats of theft. The outside thefts are well publicized by the media. But there is a dirty little secret that small entities ignore. People are surprised to learn the number one cause of theft for most small organizations is their own employees. READ MORE >>
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