L Squared Insurance Agency Blog: lawyers
View the latest blog posts from L Squared Insurance Agency.
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 >>
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 >>
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