L Squared Insurance Agency Blog: aig
View the latest blog posts from L Squared Insurance Agency.
Thursday, October 26, 2023 The reality of attorney malpractice insurance policies is paying the deductible when a claim is made against the law firm. For an additional premium Insurers may offer for 1st dollar defense which addresses claims expenses for claims with no indemnity payment made or an aggregate deductible for multiple claims brought in any one policy year. READ MORE >>
Wednesday, August 30, 2023 Attorneys wear many hats. Attorney malpractice insurance provides coverage for most hats but not all. A malpractice insurer’s definition(s) of professional services may cause coverage issues for attorneys that perform certain client services. READ MORE >>
Monday, August 21, 2023 Attorney Fees are almost universally excluded from the definition of damages in attorney malpractice policies. Punitive damages may or may not be excluded from malpractice coverage, but still may not be permitted by your state. Your insurer may pay defense costs and the award for damages in a covered malpractice claim. READ MORE >>
Wednesday, July 12, 2023 Claim time is not the time to find out the attorney has no malpractice coverage for the reported claim. Attorneys that do work for clients where the attorney is involved with client management or ownership may run afoul of attorney malpractice policy exclusions. READ MORE >>
Monday, June 12, 2023 Attorney Malpractice Insurance Policies are claims-made and reported policies. When the coverage ends the ability to report claims for past acts ends at policy termination. Attorneys leaving private practice via retirement, becoming a judge or working in the private or public sector need to protect their past acts. READ MORE >>
Thursday, April 6, 2023 More than a few attorneys forget to take advantage of Disciplinary Coverage until it is too late. Attorney Malpractice Insurance policies that offer this coverage can be ‘Duty to Defend’ or ‘Reimbursement’. READ MORE >>
Tuesday, March 14, 2023 Buried in the policy language for certain insurers are additional coverages that not all admitted attorney malpractice insurers provide. The AIG policy is one of those policies. Found in the Special Benefit Policy Section are additional coverages for Claims Expenses: 1. Claim Expenses. READ MORE >>
Tuesday, March 29, 2016From Client: I am primarily retired now, and planned to take advantage of the tail hook coverage at some point during the next few years. How will this change affect me in that regard? Response: READ MORE >>
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