Understanding Your Workers Compensation Policy
Most people are familiar with workers compensation coverage and what it commonly covers: benefits or lost wages resulting from an injury or disease sustained while performing work related duties. This part of your workers compensation insurance policy is generally referred to as “Part One,” “Part A” or “Coverage A” – the part that covers the […]
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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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What Do ‘Earned’ and ‘Unearned’ Premium Mean?
Just like with the practice of law, the insurance industry seemingly has its own language. If you don’t work in insurance, it can be confusing – and even frustrating – to not understand the product you’re purchasing. To alleviate this, we’ve covered phrases like “claims-made policy,” “split limits” and even the name of the product itself. […]
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Do I need a workers compensation policy?
A brief history of workers compensation insurance Before workers compensation insurance statutes were adopted by most states, injured workers could sue their employers to recover medical expenses, lost wages and other damages resulting from work-related injuries. Employees first had to prove the negligence of their employer in a lengthy, costly and ambiguous process. The employer […]
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PHIL’S CORNER: Employment Practices Liability Insurance, Even for Solos & Small Firms
Did you know employment practices liability coverage (EPL) can be added to your lawyers professional liability (LPL) policy? Have you seriously considered it from a cost/benefit standpoint? The answer is obviously yes if your firm has added it, as about 47% of our insured firms have. If not, is it because you are uncertain about […]
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Do I Need an Office Package Policy?
Suppose a delivery person is bringing food to one of your employees, and he slips and falls on ice or the stairs on your property. You have enough money to replace the food, but do you have enough money set aside for liability resulting from broken bones or head injuries? How about a lawsuit or […]
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What is Cyber Liability Insurance & Do I have It?
You know cybersecurity is important. We know you know cyber security is important. It feels like the whole world preaches the importance of cybersecurity because – well – it’s important. But although it’s vital for everyone, it’s even more so for law firms because they handle sensitive client information. We’ve provided articles on how to […]
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PHIL’S CORNER: Completing the Firm’s Insurance Needs
Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month. 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 […]
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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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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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