Page 19 - Feb2019_BarJournal

INSuRANCE LAW

Some small firms buy $100K/300K limits rushed or semi completed, missing important advocate helping design a policy with your best
because they think they are very smart, supplemental information will hold up the whole interest in mind. Getting quotes and pricing
intelligent lawyers who will never get sued. underwriting process and in the end missed from multiple companies offers is certainly
It saves hundreds of dollars on my annual opportunities to getting a best offer. There’s many possible so allow your trusted insurance
premium. TIP: Ask yourself is $100,000 per factors that get final approval and the end result advisor to do their due diligence to shop
claim really enough in a litigious climate? A so give them time. Taking time and completing around for you and present the coverages
difficult sticky situation the defense alone can thoroughly giving the relevant information and prices accordingly. While you concentrate
easily go over $100,000 with investigative fees and any supporting documentation is key to on the law trust your insurance agent to be
document fees. Check your policy. Does the a success marketing campaign. It’s advised to your advocate about the insurance. The LPL
policy include defense cost within the 100K research early 60 day prior to the deadline of policies can be very complex with variations
limits or is your policy include your defense the policy renewal date because it helps leverage of supplemental coverage. My tip is give yourself
outside the limits? Ask your agent because they pricing flexibility finding the best rates, most time to know what’s included and compare the
will know where to help you find the answer. coverage and allows your agent to work with language within the policy because certainly
The rule of thumb is have options and ask for their underwrites on what’s important. Every it can be a myth that certain things are
variables. Consider increasing the limits of underwriter has guidelines and is interested in covered under the policy where there can be
liability and taking a higher deductible. A rule risk evaluation to get the proper pricing on the limitations or caps that should be considered
of thumb is ask for considering increasing your table for the risk. Good programs are successful during a review.
limits of liability and take a higher deductible to because rates are set to industry standard If you
see if the cost could be affordable. ever get a price that is way lower ask your agent
to double check it to see what coverages might be Gayle Haase is a Freelancing
Do yourself a favor and get your application missing. Giving you and your agent extra time to Professional Liability Agent and
forms in early. TIP: It is common to procrastinate go over the details with you. Just like anything a Trusted Insurance Advisor for
or rush through the lawyers professional liability communication is key so schedule a conference over 15 years. She has been a
insurance applications however in reality it call making a game plan blueprint about what is CMBA Member since 2018. She
could be hurting you more than helping. Waiting included or not included because every policy can be reached at (216) 299-2739 or
until the last minute to submit the forms that are is slightly different. Your agent is your trusted gaylehaase@gmail.com.

meadenmooore.co
Investigative Accounting &
m
Litigation Support Services

 Forensic accounting
Contact our team at 216.241.3272  Economic damages
 Expert witness testimony
 Business valuation
Andrew T. Clark, CPA, CFE, CFF  Bankruptcy services
 eDiscovery
Thomas J. Campbell, CPA, CFF
 Insurance loss measurement and defense
Lloyd W. W. Bell, III, CBA, CM&AA  Alternative dispute resolution
 Mediation of damages
William J. Smith, CPA/ABV  Subrogation
 Fraud investigation

Akron l Beachwood l Boston l Charlotte l Chicago l Cleveland l Columbus l London l Los Angeles l New York l Miami l Orlando l Pittsburgh l Wooster

february 2019 Cleveland Metropolitan Bar Journal | 19