OAMIC Resources

Cyber Coverage

Cyber Coverage: Higher Limits in High Demand

I know from many phone conversations that many of our insureds are becoming more aware of cyber coverage. We also certainly see more interest in increasing the limits from the $100,000 aggregate we include by endorsement to all our lawyers professional liability (LPL) policies. It is correct to ask, and to examine the cost involved. […]

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Policyholder Dividends

PHIL’S CORNER: 2021 Policy Dividend – a Loyalty Reward

The OAMIC Board of Directors recently declared a policy dividend of approximately 5% of the earned premium for annual policy limits up to $1 million. This equates to about $448,000 to be paid to policyholders who have a current policy as of the Dec. 31, 2021, record date. View Post I like to think of […]

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Phil-Fraim

PHIL’S CORNER: With A Little Help From Our Friends

PHIL’S CORNER: With A Little Help From Our Friends I know, now you will be singing that song – or at least that line – the rest of the day! With all the uncertainties the past couple of years, we are even more thankful for our insureds (friends) than ever before. That is appropriate for […]

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Notebook with pen

PHIL’S CORNER: Managing Your Clients’ Expectations

PHIL’S CORNER: Managing Your Clients’ Expectations A couple of things make it increasingly difficult to achieve client satisfaction in the provision of legal services. Starting out with a disgruntled client who is never happy and has already been to four other lawyers creates a mountain that is very difficult to climb. But, the other very […]

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Abacus

How the Number of Attorneys Affects Premiums

How the Number of Attorneys Affects Premiums I get questions from time to time along the lines of “Why is my insurance twice as much just because I now have two lawyers at the firm instead of one?” I promise this won’t be a primer on insurance, but to really answer that question, we have […]

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Marijuana

Considerations for Attorneys With Clients in Cannabis-Related Businesses

Considerations for Attorneys With Clients in Cannabis-Related Businesses We were probably the first lawyers professional liability insurer to openly declare the willingness to write coverage for law firms providing legal services to cannabis business clients. Many insurers declined to underwrite firms with these types of clients, while others crafted specific exclusions for claims arising from […]

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Phil-Fraim

PHIL’S CORNER: Prior Acts – the 2nd Trigger of Coverage

PHIL’S CORNER: Prior Acts – the 2nd Trigger of Coverage Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim. We have made an effort to make sure policyholders have an understanding of a claims-made policy, on which professional liability is written. The easiest means to do so is to focus on […]

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Policyholder Dividends bar graph

PHIL’S CORNER: Dividends – Sharing Our Efforts

PHIL’S CORNER: Dividends – Sharing Our Efforts Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim. I am sure the favorite envelope you receive from us has to be the one containing the policy dividend check. In all honesty, it is our favorite one to send because it means we had […]

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Phil-Fraim

PHIL’S CORNER: Unexpected Reasons I’m Thankful for 2020

PHIL’S CORNER: Unexpected Reasons I’m Thankful for 2020 Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim. You know, I started to say, “Thank you for 2020,” but man did I have to quickly rephrase that one! No doubt we are strengthened by adversity, but I have serious doubts anyone was […]

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