Common Questions

Deciding when to purchase an extended reporting period or “tail” can be very tricky! They are often expensive and time sensitive, so it is important to evaluate all of your options. Typically a tail is purchased when a firm closes their doors for good; however, there are many other instances where it might be in your favor to […]... View Post
Yes! Most insurance policies require you to formally add independent contracts to the policy form, just like any other attorney, for coverage to be in place. Your policy form will only provide coverage for work the independent contractor does on behalf of your firm. If you don’t add them to your policy form, the firm will not have […]... View Post
Suing clients for failure to pay the firm their due fees is frowned upon in the insurance industry. The insurance carriers often receive counter suits for malpractice claims due to this and therefore, do not like them. Burns Brokers understand this is a difficult situation and that you deserve payment. We recommend changing your common practices such as […]... View Post
Burns Brokers always recommends good practices for your law firm in order to help prevent claims. Having at least two docket calendaring systems that are cross checked daily by two individuals can help cut down on missed deadlines and appointments. Burns Brokers also recommends that the firm have a clear conflict of interest system that not only captures […]... View Post
Burns Brokers recommends that you look at the case values your firm is handling. The firm has an exposure on the value of the whole case, not just the commission that the firm may receive. Review your insurance values compared to the case values; these should be very similar limits.... View Post
Having a potential claim can be scary and nerve racking. At Burns Brokers, we can help you discuss the claim, check if coverage will apply and figure out what to do next. Many of the insurance carriers we work with have pre-claim hotlines and risk management programs that we can help you get in touch with to move […]... View Post
Making a name change can be super easy to change on your insurance, but making sure it is done correctly is another story. We always recommend listing your prior name as a predecessor firm; this will ensure you have proper coverage for the prior name. Each carrier handles predecessor firms differently, we will ensure the listing is done […]... View Post
Many insurance companies view part-time solo practitioners as an exposure and will simply decline to quote. Their filings are not made to quote a part-time firm and therefore, they are not eligible. Burns Brokers has several markets that like working with part-time, solo firms and also offer rate deductions to help lower premiums.... View Post
Merging or acquiring another law firm is time consuming and difficult. Burns Brokers will help to make it easy for you to make this transition. Since claims made policy forms have prior acts/retroactive dates, it is super important to ensure this coverage change is done correctly. It is very easy to do it wrong! If you merge firms […]... View Post
It is often frustrating when insurance premiums continually go up. However, since they are claims made policy forms, they are often very different than occurrence based policy forms. When your firm first opens its doors, the insurance carrier will assign a prior acts/retroactive date to your policy form. This means the carrier will provide coverage for covered errors […]... View Post
Burns Brokers responds to each request for a quote promptly. We work based off of effective date, as do the carriers. If your renewal date is coming up quickly, it is never too late for us to try to obtain quotes for you. Whenever possible, we successfully secure policy forms for our clients within a 24 hour period!... View Post