PHIL’S CORNER: Business Interruption Coverage – The Battle Royale
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. When “sheltering-in” first began, I wondered how long it would take for questions to arise about whether COVID-19 triggered Business Interruption (B.I.) coverage within property policies. It didn’t take too long before lawsuits were filed and some […]
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PHIL’S CORNER: Explaining Gaps in Coverage & Prior Acts
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. Hopefully all of you are more aware of coverage nuances within the claims-made policy forms from past articles and video information in the Resources section of our website. As mentioned before, there are no […]
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COVID-19 Pandemic Brings Questions About Business Interruption and Loss of Income Coverage
In the last couple of days, you have likely thought more about business interruption (BI)/loss of income coverage than ever before. It is often viewed as one of those “it can’t happen to me” coverages. Thankfully, compared to many other businesses and professions, lawyers can work from most anywhere. But, if the clients won’t come […]
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PHIL’S CORNER: The History and Benefits of Mutual Insurance Companies & 2019 Dividend Info
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. Did you know the formation of mutual insurance companies dates back to the actual roots of modern-day insurance? This is something I couldn’t help but recall when reflecting on the fact that this is […]
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PHIL’S CORNER: Cycles in the Insurance Industry – Here’s How It Affects You (And Us, Too)
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. For nearly 40 years, OAMIC has been the only local provider of legal malpractice insurance that is based in the state of Oklahoma. We take great pride in our local roots and do our […]
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PHIL’S CORNER: What Differentiates Successful Law Firms
Have you ever thought about attempting to map out a strategy to achieve guaranteed year-over-year revenue growth for the firm? Maybe you’ve actually considered ways to attract additional clients to the firm. We read about the increasing need for people and companies who struggle to solve their legal problems. At the same time, a good […]
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PHIL’S CORNER: How Much Legal Malpractice Coverage is Enough?
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. The number one question I get asked by our insureds is, “What limits do I need?” It’s a tough question to answer, because no magical formula exists. I often facetiously tell people that if […]
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PHIL’S CORNER: When to Report a Claim
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. Has it ever crossed your mind whether you should report a matter that could potentially be the basis of a claim? You may question the timing and whether there is even a need to […]
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How the Legalization of Medical Marijuana Affects Oklahoma Attorneys
When Oklahoma voters passed State Question 788 on June 26, 2018, medical marijuana became legal in the state. Questions started flooding in immediately about how the law would actually operate and be enforced, and how soon medical marijuana would be available to consumers. But the law affects more than just those who choose to partake […]
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8 Ways to Avoid Legal Malpractice Claims
While legal malpractice claims may not be commonplace for lawyers, according to the American Bar Association attorneys in private practice have a 4-17% chance of being sued for malpractice each year. There is no iron-clad solution for preventing malpractice claims; however, there are several steps you can take to help prevent suits which can result […]
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