Michigan Lawyers Now Have Multiple Ways to Save on Lawyers’ Professional Liability Insurance

Institute of Continuing Legal Education (ICLE) customers and contributors who are CNA Lawyers’ Professional Liability (LPL) policyholders are now eligible for premium cost reductions up to 25%*. ICLE recently contracted with CNA and Paragon Underwriters to provide a number of malpractice risk management premium credits to new and existing customers to reduce the cost for their LPL coverage.

“ICLE has always been committed to helping customers with every aspect of their practice. We know that it’s tough out there, especially for the lawyers who are just starting out. We’re excited that our practice resources can now be of further help,” said David Watson, ICLE Executive Director.

“CNA is the market leader in Lawyers Professional Liability, with more than 60 years’ experience, and our data confirms that the more a lawyer engages in meaningful continuing legal education and risk control support, the better they can serve their clients,” said Michael Furlong, Esq, Vice President, Underwriting, CNA. “We’re excited to be able to reward Michigan lawyers who are pursuing excellence through ICLE.”

Qualified Michigan customers are eligible to receive the following credits against their Lawyers’ Professional Liability insurance policy:

1. Be an ICLE Partner – ICLE Partners save up to 7%. The longer you’re a Partner, the more you save.
2. Complete an ICLE certificate – choose an entire practice area or a specific topic and save up to 7%.
3. Attend an ICLE event – annually attend any of our major Institutes and save up to 2%.
4. Be an ICLE Volunteer Contributor – join hundreds of your colleagues and help us with a seminar, book, or other online resource to save up to 7%.
5. CNA Risk Control participation – ICLE customers who also participate in CNA specific risk management initiatives can save an additional 2%.

Paragon is the exclusive agent for the CNA Lawyers’ Professional Liability Program in Michigan for law firms with less than 35 attorneys. “Paragon Underwriters is thrilled to participate in this new initiative with CNA and ICLE,” said David Lipson, Paragon President and CEO. “We believe all Michigan lawyers will find tremendous value in this new program.”

The collaboration launched September 1, 2018. Full information about opportunities can be found at www.icle.org/cna. Individual lawyers and law firms interested in the offers should contact Paragon Underwriters directly at 248-851-3066 or www.ParagonUnderwriters.com/ICLE

*Credits apply to qualifying firms in the form of premium credits.

If you’ve ever seen someone wearing a t-shirt that says, “Mind the Gap” and wondered what that phrase means, you’re not the only one. It is a well-known saying that is heard in the London Underground warning people who use the subway to be wary of the gap between the train and the platform. It has become synonymous with the London subway system and is found to be both fascinating and funny by international tourists.

That same phrase should be considered by Michigan attorneys. “Mind the Gap” doesn’t only have to refer to the gap in the London subway. It should also serve as a warning to lawyers to be ever-mindful of gaps in their malpractice insurance policy.

For attorneys, one of their biggest costs is their professional liability insurance. As any lawyer knows, a lapse in coverage creates a high-risk situation and a large exposure – a dangerous, unsettling combination. Shockingly, many lawyers don’t seem to fully appreciate the ramifications of allowing a coverage gap to occur. The reason one wants to maintain continuous coverage throughout a legal career is to make certain coverage is in place for all prior acts. That’s why retroactive dates are so extremely important. Any alleged malpractice that occurred prior to the retroactive date would not be a covered claim, even if the claim was made and reported during a current policy period.

The problem with allowing a coverage gap to occur is that the insurance company issuing a new policy post gap can, and often will, move the retroactive coverage date forward to align with this new policy’s inception date. The result is that coverage for all prior acts has now been lost, which is a harsh outcome, particularly for those attorneys who have been in practice for many years. Though recent years have seen insurance products developed that can go back and cover a lapse in insurance, the cost to do so can be astronomical and is best avoided in the first place.

For help covering a past lapse in insurance, call Paragon today. Better yet, to ensure you “mind the gap” and don’t allow any lapse in your malpractice insurance, call the Paragon Underwriters team today at (248) 851-3066. We’re here to help.

Auto executives in and around the Motor City of Detroit, Michigan, are mourning the sudden death of one of the auto industry's most popular and beloved leaders, Sergio Marchionne. The former CEO of Fiat/Chrysler died last week of complications from surgery. Marchionne often talked about his love of fixing things. He talked often about how this love for fixing things helped him in 2004 after taking over the beleaguered Fiat automotive company.

Attorneys would love to fix the system that allows disgruntled clients to file malpractice claims and grievances against them so easily. Unfortunately, there is no fix for this. It is a reality of the legal profession that, at some point in their career, more than one of every three lawyers will have to protect themselves against claims of malpractice or a disciplinary inquiry from the Attorney Grievance Commission (AGC).

For over five decades, Paragon Underwriters has been helping Michigan’s attorneys find the best malpractice coverage available to them. As an insurance agency that specializes in Lawyers’ Professional Liability Insurance, we take great pride in delivering coverage to our clients that meets their individual needs at a highly competitive price point.

Since no lawyer can fix the system that allows unhappy clients from suing them, it’s imperative that your coverage protects you from lawsuits and disciplinary situations. Trust your professional liability insurance to our highly specialized team and be confident that your practice is properly protected.

Optimal keywords are in bold

In his HBO comedy special, comedian Chris Rock memorably joked about insurance coverage. It might have been one of Rock's funniest bits from the earlier part of his career. On stage, the comic said, "You need some coverage... Coverage will save your life." Of course, he was talking about life insurance and health insurance, but he very well could have been talking about malpractice insurance for lawyers.

When we hear that scary "M Word" (malpractice), we often think about doctors. However, there are many cases every day in which attorneys find themselves having to deal with lawsuits brought by clients. And most of the time these attorneys never saw it coming. Even if malpractice insurance for attorneys won't save your life in the way that health insurance might, it can save your practice from a catastrophic lawsuit or career-threatening grievance. Thus, it is essential for every lawyer in your law firm to be covered – be they partners, associates, employees, of counsels, independent contractors, full-time, part-time or nearly retired.

Paragon Underwriters has five decades of experience educating lawyers about the best professional liability insurance that will protect them in unfortunate situations. No matter the size of your firm (from a private practice with one solo attorney to a large law office with 1000 lawyers), legal malpractice insurance is a must.

Whether you're an attorney, a paralegal or a law office manager tasked with obtaining the best and most cost-effective professional liability insurance, Paragon Underwriters is here to help you. We don't simply sell malpractice insurance. We first spend time gaining an understanding of your firm's unique needs. We then educate you about the various coverage options, risk factors, best practices and risk management discounts available.

David Lipson, President of Paragon, is a third-generation insurance advisor in Michigan. David and The Paragon Team always take the time to get to know your firm and walk you through the application process and your coverage choices. Reach out today to set up a free consultation about malpractice insurance for attorneys. Call (248) 851-3066 today to ensure you'll be protected properly from a lawsuit against you and your firm. You'll quickly understand why thousands of Michigan's lawyers and law firms trust Paragon Underwriters to protect their people, their property and their practice.

What Happens If I'm Sued By An Employee?

Without EPLI coverage, your business is exposed to huge lawsuits. I know, I know, I've heard it a million times from business owners: "We're like a family here", "that wouldn't happen in our office", "we've been working together for years". But that way of thinking, that complacency, is exactly why employment-related claims are at an all time high. and why the need to insure one's business for that situation has become a necessity in today's highly litigious work environment. Almost 75% of all litigation against corporations today involves employment disputes.

What Is EPLI Coverage?

An Employment Practices Liability Insurance ("EPLI") policy, sometimes called a Management Liability policy, will protect your firm from claims arising out of actual or alleged wrongful practices relative to hiring/firing, promoting/demoting, sexual harassment, discrimination, wrongful termination, failure to make partner, and a multitude of other workplace related forms of first and third-party claims. Many employers are not aware that their general liability, professional liability or workers’ compensation policies DO NOT protect them in these situations when being sued by employee.

CURRENT EPLI CLAIM TRENDS:

Recent statistics show businesses are far more likely to face an employment-related claim than a property or general liability claim. STOP AND THINK ABOUT THAT FOR A SECOND: you are far more likely to face a lawsuit from an employee than you are of having a fire or a theft or a slip and fall YET almost everyone buys coverage for the fires and for the injuries while much fewer buy coverage protecting against employment-related claims. I expect the trend will continue and soon all types of businesses will have (or may be required to have) an EPLI policy to protect them if sued by an employee. When these workplace issues turn into lawsuits, they become a constant strain and drain on time and resources.

Claims involving lawsuits by employees comprise a significant amount of today’s civil litigation. No organization is immune from employment practices liability litigation, least of all law firms. Not only are the number of employment-related claims increasing, but so is the potential financial risk to your business. The Equal Employment Opportunity Commission reports that employee complaints have escalated to nearly 100,000 new charges per year.

Defending a sexual harassment or discrimination claim, whether you are innocent or guilty, or even if the claim is groundless or fraudulent, can be massively expensive. You can be sued by an employee even if you've done nothing wrong, you'll still need to hire an attorney to get you out of it --- this can cost thousands and thousands of dollars.

What Is Third-Party EPLI Coverage?

Many EPLI policies also include what is known as "Third Party Liability" which covers liability claims brought by non-employees against employees of the insured company. The third-party in these lawsuits can be a customer, a client, a vendor, the mailman or anyone who interacts with your employees. Your organization's third-party liability exposure is driven largely by the degree to which you and your employees interact with the general public.

What Should You Do Next?

Call Paragon at 248-851-3066  OR  request a quote below and we'll reach out to you ASAP!

Please call Paragon at 248-851-3066 with any questions or concerns, we're here to help!

I'm pretty confident that if you asked anyone who has ever owned a rental property you would get an overwhelming response that it's not as lucrative or easy as they thought it would be. In fact, owning a rental property can be a major pain, and end up costing you a ton of money!

I certainly don't mean to be a "Debbie Downer", and I know that if it's done right it can be lucrative, but from an insurance agent's perspective, I don't see a lot of people doing it right.

So you're probably thinking, "Well Chris, you are an insurance agent. What do you know about real estate or rental properties? Why should I take advice from you?"

I'm not a real estate agent, and I don't own a rental property. However, several of my friends/family/clients/co-workers own rentals, and because I insure a bunch of their properties, I've had a first hand account of the process, and I've learned what to do, and what not to do.