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 the major differentiations from an occurrence-based policy. What is known […]
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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 something left in which to share with […]
Read More 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 sad to see 2020 sail on by. The […]
Read More PHIL’S CORNER: Thank You
Phil’s Corner is a special monthly column from OAMIC’s President & CEO Phil Fraim. I started to write something regarding a different subject matter, but during this year when it seems like COVID-19 and many things have made it a difficult and trying time, it hit me how grateful I am for many things. With […]
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PHIL’S CORNER: Moving Past Diversity to Inclusion
Co-written by Phil Fraim and Zindaba Tembo From Diversity to a Diverse Team Phil Fraim, President and CEO The topic of diversity and inclusion is an important one. However, it is also one that people have heard so many presentations about and been involved in so many educational or training sessions on that they have […]
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Completing the Firm’s Insurance Needs
No big surprise that professional liability insurance is the biggest need for law firms, since it represents the largest exposure for lawyers, as well as other professions like doctors, accountants and architects. For that reason, we will never take our eye off the goal of being the very best professional liability insurer for the Oklahoma […]
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PHIL’S CORNER: Impact of COVID-19 on LPL Claims – If Any
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. So far in 2020, claims in our office have been improved both in the number of new matters and the average size of those matters. Is this a false sense of security, the calm […]
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Factors in LPL Pricing
A common question from prospective insureds is how much does coverage cost? That is a tough one for which to craft an answer. As you might imagine, some of it depends upon the limit and, to a lesser degree, the deductible. There are also other factors that have an impact, even if in a smaller […]
Read More PHIL’S CORNER: What Do Split Limits Mean?
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. Most professional liability polices provide different limits, or maximum dollar amounts that will be paid, for different areas. This differs from a typical general liability (GL) policy that is normally written on a combined […]
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PHIL’S CORNER: If LPL Is Important, Are Limits Also?
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. Most of the good, conscientious lawyers I know support the idea of the importance of lawyers professional liability insurance (LPL) and would not think of practicing without it. This is not because they think […]
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