Get the Best Rate for Malpractice Insurance!

by KB Insurance

Kaestner & Berry works with many different underwriters to obtain the best coverage and pricing for you! Underwriters have different guidelines, however, in the big picture they charge based on the following criteria at your firm:

• The number of attorneys that will be insured at the firm. (A few underwriters also charge for paralegals).

• The hours that the attorneys work for the firm. Most underwriters provide some type of discount for “part time” attorneys. This discount will differ from underwriter to underwriter.

• Area of Practice. The underwriters charge a different rate based on the type of practice that you have. For example, criminal law is statistically a very low risk area of practice. As a result, the more time you identify as practicing in this area of law, the lower your premium will be for. Some other areas of practice, certain underwriters will not even provide a quote. A typical example is that many underwriters will not write a plaintiff firm that does medical malpractice work.

• Claims and disciplinary issues. The underwriters differ greatly on how they handle claims and disciplinary issues. We have worked on many difficult accounts to obtain the best rate for our clients in these situations.

• All underwriters have a different rate based on the state out of which your law firm practices. Some underwriters have different rates for certain “high risk” cities within the state. So if a friend in a different county tells you of a carrier offering a great rate, be alert to the fact that you may not receive a similar great rate.

• Office procedures are important. Procedures such as a dual calendar system, a conflict check system and not suing clients for fees, help keep your premium low.

As an independent agency, we are working for your law firm. Our goal is to match your firm to the carrier that will best suit your needs.

How To Save In These Inflationary Times

by KB Insurance

Practice Tip – Confidentiality

It is human nature to want to talk about work. However, client confidentiality is an ethical obligation, not only for the attorney, but also for staff, outsourced workers, repair people and others who work with a law firm. For this reason, it is a good practice to frequently remind staff of the obligation of confidentiality.

How to Save in These Inflationary Times

A common misconception held myth about an insurance agency is that the use of an independent agent increases your insurance cost. This is a myth that is rarely true. Whether you contact an insurance company directly, as a “direct write”, or use an agent, the premium charged by the insurance company is the same. Of course, if all you do is contact that one insurance company, that company will provide you with only one price, its price. The price may be high or low. You as a consumer have no way of knowing whether it is competitive. In addition, the coverage may be broad or narrow. You as a consumer can spend a lot of time to research the coverage on your own or you can be assisted by an agency that is experienced and focused on offering you quality options.

Kaestner & Berry is an independent agency which has established relationships with a large number of different underwriters. We only assist lawyers in finding insurance products to protect their law firm/clients. We can save you money and time through our knowledge of the market place and our ability to obtain competitive quotes from different companies.

Kaestner & Berry has saved law firms in Missouri, Kansas, Illinois, Tennessee, and Texas millions of dollars. Be confident you are getting the best available coverage, at the best available price, for your law firm’s situation