Author: Seth L. Laver

The Ponzi scheme expired with the arrest of Bernie Madoff, right? Absolutely not. Ponzi schemes are alive and well.  Many of these scams are reported but presumably many go unnoticed as criminals target the unsuspecting of millions.  Apparently, Madoff’s 2008 arrest did little to dissuade others from engaging in similar crimes, although on a lesser scale. According to the SEC, which compiles Ponzi scheme data, these crimes continue at a disheartening rate. 

A Ponzi scheme is an investment fraud that involves the payment of …

A recent decision provides insight on the application of the attorney-client privilege to communications between an insurance professional, who was also an attorney, and the insured. Generally, all claims are assigned to an insurance professional to monitor and, if applicable, to strategize with insurance-appointed counsel.  It is widely accepted that communications between defense counsel, the insurer, and the insured are protected by the attorney-client privilege pursuant to the so-called tripartite relationship.  However, there is no privilege that applies to communications only between insurer and insured. …

A law firm’s failure to disclose a potential claim on its insurance application may act as a waiver of coverage.  Lloyd’s of London recently argued that coverage did not apply to a California based law firm in a multi-million dollar legal malpractice action.  According to Lloyd’s, the professional liability insurance policy contained an exclusion for claims the firm knew or reasonably should have known about prior to the effective date of the policy.  At the time the law firm procured the policy, an attorney from …