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LAWPRO Magazine: 2014 June – Year in Review 2013

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More from the 2014 June – Year in Review 2013 Issue

How do you prepare for the unknown? 1

As an insurance company, LAWPRO addresses that question every day. We have claims professionals, financial analysts and actuaries to help us and our insureds understand and prepare for what might happen – from the malpractice errors we see year after year (e.g. lawyer/client communications) to new technology dangers that put information and trust accounts at… Read More »

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2013 financial results explained 2

Net premiums: $106.5 million Net LAWPRO revenues in 2013 were $106.5 million. Premiums from the mandatory insurance program were $2.1 million higher than in 2012, largely due to a greater-than expected growth in the number of lawyers joining the mandatory program. Net claims: $96.7 million Net claims and adjustment expenses for 2013 decreased by $9.4… Read More »

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Premium stability is the result of nimble adjustments 3

Coverage LAWPRO’s base premium has held steady at $3,350 since 2011; but like a sailboat that tacks carefully first in one direction then the other to manage the wind, stability is the result not of a lack of change, but of continual adjustments to manage change. For 2013, for example, the minimum premium period (for… Read More »

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Recoveries and repairs: 2013 review 4

LAWPRO staff actively pursue recovery costs throughout the year. In some cases, a party other than the insured is found liable for all or part of a loss that is the subject of a claim. We take all reasonable steps to obtain reimbursement from these parties, no matter the amount, because the recovery of these… Read More »

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TitlePLUS® program update 5

The mission continues The TitlePLUS initiative started in 1997 after consultations with the real estate bar. There was more than title insurance on the agenda. The mission was to combine the best of title insurance with the skills and knowledge of the real estate bar. The goal: maintain the important role of the real estate… Read More »

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Making corporate social responsibility part of every work day 6

While the formal expression of LAWPRO’s Corporate Social Responsibility (CSR) commitments is relatively new, many of the activities in which staff participate under the program have been part of LAWPRO working life for many years. Below are a few highlights from 2013. Fostering the legal community and access to justice Celebrated the awarding of the… Read More »

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Feeling the pressure? 8

Each of us faces challenges in life. Sometimes we welcome those challenges, like marriage, the birth of a child, a promotion or a new job. And sometimes we don’t, like divorce, job loss, a serious illness or the death of a loved one. It is no secret that a legal career brings with it many… Read More »

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