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L Squared Insurance Agency Blog

View the latest blog posts from L Squared Insurance Agency.

Unlike 10 to 20 years ago attorney malpractice claims are now a part of life.  Today it is a cost of doing business.   Being a defendant in a legal malpractice claim is no fun.  In addition to the potential cost of an adverse judgement, there is the stress and expense of being away from practicing law to defend yourself. READ MORE >>

Confusion with when a claim is covered by a claims-made policy can be costly.  One of the leading causes of claims being denied is just letting the coverage lapse assuming that there will continue to be coverage for past acts. Attorneys continue to be confused with claims-made coverage as to if a claim is covered. READ MORE >>

Some law and accounting firms still spend thousands of dollars on closed file storage.  These firms have tens of thousands of bankers-boxes of closed client files in warehouses, basements, storage buildings, office space and garages.  A question still asked is how long do we have to keep the closed files? READ MORE >>

On September 7, 2018, Eric Conn (also known as Mr. Social Security) received an additional 15 years for his fleeing to Honduras after pleading guilty to defrauding the government out of over $500 Million of social security benefits.  He now is sentenced to 27 years in prison and should serve a minimum of 22 years. READ MORE >>

Attorney Malpractice insurers find that the use of non-engagement /disengagement letters reduce legal malpractice insurance claims.  Insurers have defended and paid on claims where the client alleges that the law firm was still representing them when the law firm thought they were no longer ... READ MORE >>

Engagement letters confirm the representation’s scope setting forth the parties’ responsibilities, billing rates/contingency agreements and expense costs.  Engagement letters discuss the scope and limits of the firm’s representation. The engagement letter memorializes the bounds of the firm’s actual representation. READ MORE >>

Eric Hess - Wednesday, September 12th at 10 am EDT (1 CPE) Any firm that has avoided attacks due to social engineering, distributed denial of service, ransomware, evasive malware and e-mail interception can count themselves lucky...but this is the year that may be changing. READ MORE >>

Travelers Insurance has developed a ‘Pressure Test’ for your Cyber Risk.  Once completed the site provides many helpful hints for managing the Cyber Risk.  To take the test click on:   Cyber Security Pressure Test   If you want help with your Cyber Insurance needs, please contact L Squared Insurance Agency. READ MORE >>

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