by LAWPRO

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Standard insurance coverage

The base program

Eligibility:

Required of all lawyers¹ providing services in private practice.²

Coverage limit:

$1 million per claim/$2 million in the aggregate (i.e., for all claims made in 2023), applicable to claim expenses and/or indemnity payments (some exceptions apply).3

Standard deductible:

$5,000 per claim, applicable to claim expenses and/or indemnity payments (some exceptions apply).3

Base premium:

$3,250 per insured lawyer (plus PST).

Innocent party sublimit4

$250,000 per claim/in the aggregate, applicable to claim expenses and/or indemnity payments (some exceptions apply).3

Mandatory Real Estate Practice Coverage (for real estate practitioners)

Eligibility:

Required of all lawyers practising real estate law in Ontario in 2023.

Lawyers not eligible for the Real Estate Practice Coverage Option are:

  • those who are in bankruptcy;
  • those who have been convicted or disciplined in connection with real estate fraud; and/or
  • those under investigation, where the Law Society obtains: an interlocutory suspension order or a restriction on the lawyer’s practice prohibiting the lawyer from practising real estate; or an undertaking not to practise real estate.

Coverage sublimit:

$250,000 per claim/$1 million in the aggregate, applicable to claim expenses and/or indemnity payments (some exceptions apply).3

Premium:

$100 per lawyer (plus PST).

Optional insurance coverages

Innocent Party Sublimit Buy-Up5

Eligibility:

Optional for all lawyers and eligible paralegal licensees practising in association or partnership (including MDPs, LLPs, and lawyer/paralegal partnerships), law corporations (with more than one lawyer and/or paralegal shareholder) and sole practitioners practising with employed lawyers.

Sublimit buy-ups & premiums:

Innocent Party Sublimit can be increased as follows:

  • to $500,000 per claim/aggregate for an additional $75 per insured; or
  • to $1 million per claim/aggregate for an additional $125 per insured.

Excess insurance coverage

Eligibility:

Available to law firms (including multi-discipline partnerships and combined licensee firms) and to lawyers with topped-up Run-Off coverage.

Coverage limits:

Up to $9 million per claim/$9 million in the aggregate.