by LAWPRO

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Insurance coverage provided

The base program

Eligibility:
Required of all lawyers¹ providing services in private practice.

Standard insurance coverage limit:
$1 million per claim/$2 million in the aggregate (i.e., for all claims made in one year), applicable to claim expenses and/ or indemnity payments (some exceptions apply).

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

Base premium:
$3,550 per insured lawyer (plus PST).

Innocent party sublimit:
$250,000 per claim/in the aggregate, applicable to claim expenses and/or indemnity payments (some exceptionsapply).

Optional innocent party sublimit buy-up
For additional coverage, the Innocent Party Sublimit can beincreased to $500,000 or $1 million per claim/aggregate.

Cyber coverage sublimit:
Shared sublimit for first- and third-party claims of $250,000. Social engineering limit can increase from $250,000 to $1,000,000 where specified risk controls are met.

Mandatory real estate practice coverage (for real estate practitioners)

Eligibility:
Required of all lawyers practising real estate law in Ontario.

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)

Premium:
$100 per lawyer (plus PST).

Intellectual property business coverage

Eligibility:
Available to lawyers practising intellectual property law and required by the College of Patent and Trademark Agents (CPATA) to hold expanded insurance coverage including coverage for service provided outside Canada or subject to foreign law.

Coverage limits:
$1,000,000 per claim/$2 million in the aggregate including coverage for services with respect to another country and subject to laws that are not the law of Canada, its provinces, or territories.

Premium:
$2,000 per lawyer (plus PST)