Please stop sweeping your Professional Liability Insurance under the rug. At tax time, financial realities jump out from under the rug. Last year’s business decisions discover their long-term financial implications. Time spent looking back makes for better decisions moving forward.
Threats that used to spring up only in fiction and on movie screens are now real-life high-level security breaches happening across the country and within well-known, big-name companies. What cyber threats should you be aware of? What legal requirements and risk management strategies can you implement?
For a long-time practitioner, your retro date usually coincides with the date you first purchased liability insurance probably close to the date you first started practice. For many, your retro date starts the legacy of many years of continuous insurance coverage representing an entire career.
Law firms face daily threats of security breaches that can devastate a firm’s bottom line and reputation. Are you prepared for the inevitable data breach or the day your network is held for ransom? You can be if you have the right Cyber Liability Insurance.
Lawyers must understand that in today’s business environment, professional liability insurance provides a necessary component for any risk management strategy. Even groundless claims can cost thousands of dollars to defend. When looking to purchase professional liability coverage, one decision always comes first. Is it better to work with a Direct Writer or an Independent Insurance Broker?
It is important to know the limitations of a Legal Malpractice or Lawyers’ Professional Liability Insurance (LPL) policy. Most Legal Malpractice Insurance Policies have three components in common. The key to avoiding the unexpected is to have a good understanding of all restrictions, provisions and costs at the time of purchase or renewal.