Lawyers’ Insurance 101

/Lawyers' Insurance 101

Malpractice Insurance Basics: Part 1

Malpractice Insurance Claims made vs. Occurrence-based Coverage Before digging into the basics of legal malpractice insurance, I’m going to share a little insurance history in order to set the stage.  Prior to the 1970’s, legal malpractice policies were occurrence-based, which meant that if a malpractice policy was in force during the time the alleged malpractice [...]

Back To The Basics: To Report Or Not To Report? When in Doubt — Call ALPS

If you are an ALPS-insured firm and are unsure if you should report a situation, but it is on your mind, just call us and we can talk with you about your concerns and the issues involved in your specific fact pattern. Ultimately, it is your decision whether to report a potential claim but failing [...]

Cyber Security Month Round Up

October is National Cyber Security Awareness Month.  To get you on the right track, we've pulled together our favorite cyber-related podcasts from the past year. First, a conversation with Libby Benet, U.S. Lead for Beazley Product Solutions (this was also our very first podcast episode, btw). Libby talks with Mark about the latest trends in cybercrime, [...]

Timely Reporting Of Potential Legal Malpractice Claims Is So Important

Your ALPS policy is a “Claims Made and Reported” insurance policy. What does that mean? It means that as a condition precedent to ALPS’ obligation to defend or indemnify you, you must immediately report any claim, or something that could reasonably be expected to be the basis of a claim, to ALPS during your current [...]

So What is Prior Acts Coverage?

Under a claims made and reported policy, an insured would have coverage for any covered malpractice misstep that occurs and is reported during a policy period. The problem, however, is malpractice claims often don’t arise in the same year the actual misstep occurred. Prior acts coverage is what solves the problem.. In order to help [...]

ALPS In Brief Podcast – Episode 21: Are Women Attorneys a Better Risk?

 In this episode of the ALPS In Brief podcast, ALPS Risk Manager Mark Bassingthwaighte sits down with ALPS Underwriting Manager Leah Gooley to dig a little deeper into ALPS 30+ years of claims experience and what our data is telling us about women attorneys and their lower propensity toward malpractice claims. ALPS In Brief, [...]

Utah State Bar Endorses ALPS as the Legal Malpractice Insurance Carrier of Choice for Members.

Effective July, 1, the Utah State Bar announced its exclusive endorsement of ALPS to meet the malpractice insurance needs of its members.  The Bar was impressed by ALPS’ proven track record, financial stability, excellent policy coverage and proactive risk management practices. “Given its understanding and commitment to lawyers and the legal profession, we felt ALPS [...]

Why You Want to Avoid a Malpractice Insurance Coverage Gap

Legal malpractice insurance policies are claims-made and reported policies. This means coverage is afforded if a malpractice claim is made and reported during the policy period contingent upon the wrongful act giving rise to the claim having occurred on or after the policy’s retroactive coverage date. And a policy’s retroactive coverage date is usually the [...]

More Bang for your Buck! Supplementary Payments Under ALPS Premier LPL Policy

ALPS PREMIER Lawyers Professional Liability Policy provides four supplemental payments for an insured for specific situations.  Many insureds do not realize these benefits exist.  Do you know what benefits your policy provides? ALPS Premier Policy provides supplemental payment for Loss of Earnings, Disciplinary Proceedings, Subpoena Assistance and Public Relations Event. Put your policy to work [...]

ALPS In Brief Podcast – Episode 15: 2017 ALPS Year in Review

 ALPS recently released our 2017 Annual Report online. Mark Bassingthwaighte was able to sit down with ALPS CFO Sara Smith as she elaborated on a year that was marked by growth and excitement for the company. ALPS In Brief, The ALPS Risk Management Podcast, is hosted by ALPS Risk Manager, Mark Bassingthwaighte. Transcript: MARK: [...]