Prior Acts Coverage and the Retroactive Date

Prior Acts Coverage and the Retroactive Date

Every successful accounting practice needs professional liability insurance to protect the assets of the business and the personal assets and careers of those who practice there. Understanding the components of your policy and what to look for will help ensure you are adequately covered. One area that is important to understand is prior acts coverage and the retroactive date.

Is Your Firm Prepared for a Third-Party Cyber Attack?

Is Your Firm Prepared for a Third-Party Cyber Attack?

Cyber risks can be lurking in the most unsuspecting places. Members of a state professional society recently learned that the hard way. The society’s website had been compromised through a social engineering ploy, which allowed hackers to insert a Trojan virus on the site that targeted the victims. When members logged onto the “members only” area on the website, they were unknowingly giving hackers back-door access to their firms’ computer networks.

Do You Have Gaps in Your Accounting Malpractice Insurance?

Do You Have Gaps in Your Accounting Malpractice Insurance?

It’s great to have professional liability insurance that covers your day-to-day work, and if you’re settled at a firm that provides coverage, you may feel like you’re safe and protected.

Do You Have Gaps in Your Legal Malpractice Insurance?

Do You Have Gaps in Your Legal Malpractice Insurance?

It’s great to have professional liability insurance that covers your day-to-day work, and if you’re settled at a firm that provides coverage, you may feel like you’re safe and protected. Nowadays, however, attorneys’ careers are more portable and flexible than ever. Maybe you did a few years of contract work before you joined a firm; maybe you still do some pro bono or other extra work on the side. As your practice changes over time, your coverage needs change, too. Do you know if you’re covered now for all the work you do or have done?

5 Tips for Avoiding Legal Malpractice Claims

5 Tips for Avoiding Legal Malpractice Claims

As a practicing attorney, you understand the importance of ensuring that you’re serving your clients as effectively as possible. Despite your best efforts, the odds are you’ll face a malpractice claim at some point. A substantial percentage of attorneys are subject to professional liability claims each year, and the average attorney faces three such claims throughout a legal career.1 The good news is there are steps you can take to minimize your risk of legal malpractice claims and resulting losses.

Should You Be Shopping Your Malpractice Insurance?

Should You Be Shopping Your Malpractice Insurance?

If you have professional liability insurance for your legal practice, you’re off to a great start. But once it’s in place, should you “set it and forget it?” Or do you need to shop the coverage on every renewal? “The rule of thumb I tell my clients is to get a comparative quote every three to five years,” said Joe Barnard, Director of Professional Liability Programs for ProDefender. “Things can change in the insurance market over that period of time, and you may find better pricing or a better fit for the coverage you need.”

How to Compare Competing Malpractice Insurance Policies

How to Compare Competing Malpractice Insurance Policies

If you’re opening a new practice, just getting around to buying professional liability insurance, or shopping for a better policy, asking the right questions is critical to getting the best protection and value. Before you sign up, be sure to know the answers to these questions.

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