L Squared Insurance Agency Blog: professional liability
View the latest blog posts from L Squared Insurance Agency.
Friday, June 24, 2016Approximately twenty-five percent of legal malpractice claims result from calendaring issues, such as failure to know a deadline, failure to timely file, failure to record in a calendar or failure to respond to a calendar reminder. READ MORE >>
Thursday, June 23, 2016This is an excellent article came from the Surplus Lines Association of Illinois describing Surplus Lines insurance carriers: In order to understand what surplus line insurance is, it is helpful first to understand a few things about the insurance marketplace and to understand what surplus line insurance is not. READ MORE >>
Wednesday, June 22, 2016Most attorneys understand that if they have an actual claim made against them or a lawsuit filed that they need to notify the insurance carrier immediately. It is also important for the attorney to know when they should put their professional liability insurance carrier on notice for a potential claim. READ MORE >>
Tuesday, June 21, 2016CEOL stands for Claims Expenses Outside the Limits. The purpose of CEOL is to provide additional coverage for claims expenses to help preserve the primary limit of liability. The other option is Claims Expenses Inside the limits (CEIL). With CEIL, every dollar used for claims expenses reduces the liability limit by a dollar. READ MORE >>
Tuesday, June 21, 2016The Wisconsin State Bar Board of Governors approved a succession planning registry after death or disability. http://www.abajournal.com/news/article/who_will_take_over_your_law_practice_wisconsin_lawyers_can_name_a_successor 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 >>
Wednesday, June 15, 2016While it is one of the more boring things to do, properly completing the Lawyers Professional Liability Insurance application is very important. While this process takes away from billable hours, if done incorrectly it can lead to having claims denied, the law firm being non-renewed, or if the error is material enough coverage rescinded. READ MORE >>
Tuesday, June 14, 2016Before a solo attorney starts to practice law in his or her new law firm, the attorney needs to address the business of a law firm. Attorneys need to realize that a law firm is a small business. And as with any small business it needs to have a written business plan. Why put the plan in writing. READ MORE >>
Monday, June 13, 2016Attorney Malpractice Insurance and Accountant Malpractice Insurance are written on a claims-made basis. One of the issues is when should a claim be reported and to which insurance carrier on a claims-made policy. The liability portion of your Business Owners and Workers Compensation policies are written on an occurrence policy form. READ MORE >>
Friday, June 10, 2016The best attorney in the world can still end up with an attorney malpractice claim by taking the wrong client or case. Every firm needs to have a client intake procedure that they use for every new client and case. It is best to have a written plan that everyone in the firm follows. READ MORE >>
|
Blog Archive
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2013
2011
 |
|