Ritman Insurance Insights
Posted
Jun 12 2017

The following notary law changes for the State of Indiana will be effective 7/1/2018:
Notaries must have a $25,000 surety bond. All Notaries renewed with a date prior to 7/1/2018 are grandfathered at the $5,000 bond amount until their commission expires.
The Indiana Notary Bond form is not changing; however, a copy of the bond will have to be uploaded upon registering with the Indiana Secretary of State. Also, the applicant will have to pass an expanded online exam duri...
Posted
May 9 2017

As a boutique insurance agency, RITMAN specializes in all things property and casualty with an emphasis on professional liability insurance for lawyers. We provide insurance solutions for professionals, businesses, and individuals. You take pride in what you do. So do we.
Why do you need Professional Liability Insurance?
Ensure your ability to make a living
Protecting your business and personal assets
To make your client whole should you or a staff member make a ...
Posted
May 14 2014

How does Worker's Compensation Coverage differ between Corporations, Partnerships, LLCs, LLPs, Sole Proprietorships and Professional Corporations?
Partnership / LLP
Equity Partners are not automatically included.
Equity Partners may elect to be included.
If the Equity Partners choose to remain excluded from coverage, respond in the following manner on your audit: provide compensation figures for Partners but note "Partners - Not Applicable" on the audit form.
...
Posted
Feb 20 2014

Data records compromised over time:
2008
60,000,000
Hackers figured out ways around security
2009
144,000,000
Drop due to added security
2010
4,000,000
Further added security
2011
174,000,000
Hackers figured out ways around security
2012
44,000,000
IT catching more hackers before breach but only matter of time before hackers will have figured ...
Posted
Feb 9 2014

1. Missing deadlines
Utilize dual calendars
Proper date calculations
Cross-check
2. Conflicts of interest and matter
Representation of both parties
Personal involvement with a client's business
Proper ID at engagement
3. Poor client relations
Have clear and timely communication
Clear engagement/declination letters
Clear expectations up-front
4. Ineffective client screening
Thorough intake process
Conflict check with other firm mem...
Posted
Feb 3 2014
The file destruction issue is a mix of malpractice and ethics issues. In short, there is no "one time period fits all files" answer. Each file must be reviewed by a lawyer with these matters in mind.
Malpractice considerations - Maintain file for minimum time period for running of statute of limitations (SOL) on a legal malpractice claim, generally two years. Note that SOL may not begin to run until the malpractice is discovered. In some circumstances files may have to be mainta...
Posted
Feb 1 2014
Clients frequently ask us: "Can we sue for fees?" While we don't encourage suing for fees, we know that lawyers should not be ‘shut out' of availing themselves of the courts to be paid on contractual obligations.
Before you sue for fees, follow these guidelines:
First, review the file for any potential legal malpractice in the representation (or actions that could be in good faith claimed to be malpractice) that could defeat the fee claim. Have another lawyer in ...
Posted
Jan 14 2014
Standard Business Owner Policies (BOP) and Commercial Package Policies (CPP) do NOT have Commercially Owned Auto coverage.
In Indiana, BOP and Commercial Package Policies generally do not have Uninsured / Under Insured (UM/UIM) coverage.
Hired - Non Owned coverage does NOT apply to Partners / Executive Officers driving their own vehicles on business.
Hired - Non Owned coverage DOES apply to the law firm if the entity is named as a Defendant
Partner slams into another car: Part...