LiabilityPro Insurance Advisors

Learn how to manage your professional liability insurance and cyber insurance policies, keeping premiums low and value high.

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Legal Malpractice Insurance Deductibles: How to Save Serious Money

Deciding on where to purchase your legal malpractice insurance (E & O or Professional Liability Insurance) can be difficult, especially when looking at all the associated costs that come with. I think it's a safe assumption that premiums dictate what coverage you get and where you get it.

When is a Professional Liability Insurance Broker a Good Idea?

Sometimes, you get what you pay for. Had you worked with a broker before buying your policy, things may have been different. A broker owes a duty to keep your interests first and foremost.

When to Report a potential claim in Professional Liability Insurance Policies

Do you know what to do if you are faced with the likelihood that you made a mistake that could result in a professional liability claim being made against you or the possibility of one? Most professional liability insurance policies have very specific requirements for the reporting of claims and potential claims.

Cyber Liability Insurance is a Must Have in Your Cyber Security Arsenal

Has your email address ever been hijacked by a spoofing scam? Are you prepared for the inevitable data breach or the day your network is held for ransom? Network security alone cannot entirely protect your business’ data.

Professional Liability Insurance for RIAs

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.

Cyber Security Tools for Business Leaders

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?

How Much Does Legal Malpractice Insurance Cost?

Your professional liability insurance premium is most often based upon the number of full time lawyers in your firm. As the size of the firm increases however, the cost per lawyer actually decreases.

How to Preserve Your Professional Liability Insurance Policy Badge of Honor

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.

Broker vs Direct Writer: What Does This Mean for Professional 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?

Are there limitations in your Malpractice Insurance coverage?

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.

What Companies Require Cybersecurity?: Intro to Regulations and Protection (2017)

Cybersecurity requirements are continually increasing, as are the questions regarding what to do about them. If you’re wanting to keep you and your company off cybersecurity enforcers' radars and stay ahead of the game if or when cybersecurity becomes law for your industry, this article is for you.

Lawyer Ethics and Cybersecurity Obligations to Clients (2016 Review)

It’s now rooted in lawyer ethics that real steps toward protecting and securing client confidences need to be taken in the realm of cybersecurity.

Protect Your Law Firm's Confidential Data: Summary of the ABA's 2016 Seminar

Short on time? I've compiled the following key slides, takeaways, and extra notes I took from the ABA's Cybersecurity: Ethically Protecting Your Confidential Data in a Breach-A-Day World seminar.

Cybersecurity: 10 Tips to Help Prevent Ransomware Attacks

What's the best thing you can do to fight off ransomware attacks? Prevention.

Cybersecurity Information Fiduciary: What the Heck Is It?

Lawyers, accountants, and doctors all fall under the term “information fiduciary” because they collect personal information and have a responsibility to protect that information. They are liable if that information were to fall into someone’s hands that could pose a threat to the individuals they collected it from.

10 Ways to Help Prevent a Legal Malpractice Lawsuit

Despite best efforts, dissatisfied clients sometimes file legal malpractice suits. Although there are no guaranteed methods preventing suits from being filed, there are tried and true ways that often reduce the risk of being sued, or minimize exposure once suits are filed.

What Makes a Legal Malpractice Insurance Underwriter Second-Guess You?

Certain underwriting conditions can impact your insurability for legal malpractice insurance as well as the money in your wallet. Listed here are a few of the top ones.

2016 Cyber Attack Stats and Defense Options

Certain underwriting conditions can impact your insurability for legal malpractice insurance as well as the money in your wallet. Listed here are a few of the top ones.

Take Advantage of Legal Malpractice Insurance Tail Coverage When You Part Ways

To avoid a potential uninsured career, lawyers practicing in a group setting, need to be prepared to buy Tail coverage should the “group” split up and there is no successor to continue to insure the former firm, and its lawyers’ prior acts.

Professional Liability Insurance Applications Ruined By Too Many Cooks

To be sure that you’re getting the best out of your professional liability insurance policy in terms of cost and coverage, it’s best to shop your coverage once every three years. You can do it yourself, or save a considerable amount of time and effort by having an independent professional liability insurance broker do it for you.

Professional Liability Insurance Renewal: 6 Tips to Save You Money This Time

Remember these tips the next time your professional liability insurance policy is due to renew.

3 Legal Malpractice Insurance Fallacies That Could Change Your Thinking

Ask any busy professional for their most hated business process, 9 out of 10 will say filling out those darn malpractice insurance applications. I have to agree, they're inconsistent, unclear, repetitive, too long and oh-so-tedious.

Iowa Polk County’s networks were attacked on Friday the 13th

Iowa-Polk County computers fell victim to a malicious code by a CryptoLocker (trojan virus) Friday the 13th, May 2016, infecting 20% of the county’s servers ultimately forcing the remaining servers to be shut down by IT staff to stop the virus from spreading.

Get Professional Liability Insurance: 7 Actionable Tips

Professional Liability Insurance is a specialty insurance that is not typically available from your neighborhood insurance agent. In fact, it’s an entirely separate insurance “genre” requiring specialized knowledge, relationships and familiarity with non-standardized policy forms.

This Isn’t Your Granddaddy’s Legal Malpractice Insurance

As in life, change in the insurance business is inevitable. That is certainly true looking back over the development of Lawyers’ Professional Liability Insurance in America.