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Advocating for lawyers while controlling claims costs
LAWPRO has managed, in each year of the last decade, to close over 40 per cent of claims without payment of defence or indemnity costs. Traditionally, another 40 per cent or so of claims generate defence costs only. This means that an indemnity is paid, on average, in just one out of every six claims (16 per cent, in 2014).
One of the keys to our success is the effort our internal and external counsel invest in claims “repair”: taking steps to reverse errors before they lead to losses. Chances of a successful repair are highest in those cases in which the insured complies with the Rules of Professional Conduct and the terms of the LAwPRO insurance policy and reports an error as soon as he or she becomes aware of an exposure.
Consistent approval ratings
In 2014, 97 per cent of insureds who completed a satisfaction survey reported that they were satisfied with our efforts in resolving the claims. LAwPRO defense counsel received high approval ratings, with 88 per cent of insureds stating that they would have the same counsel represent them again. LAwPRO’s claim resolution process involves courteous and close collaboration between the insured, internal counsel and staff assigned to the file, and in cases where they are retained, external counsel. Our insureds regularly report being treated with respect and professionalism. we often hear that reporting a potential claim and knowing the matter is in experienced hands allows the lawyer to get back to the demands of practice with a sense of relief and renewed focus.
When a case merits going to court on a lawyer’s behalf, we get results.
LAwPRO counsel also participate in seeking resolution of many claims via negotiation, mediation and arbitration; and take all reasonable steps to recover costs, through the enforcement of judgments and costs orders, and by pursuing reimbursement from third parties.