Articles
Quick summary of 2020 policy and key dates
Base premium unchanged for 2020: $2,950 No change to transaction levies Clarification of circumstances in which notice must be provided Clarifications to definitions of “spouse” and “dishonesty” under the policy How to renew your insurance You need to renew your insurance for the 2020 year. It will not happen automatically. Visit my.lawpro.ca to e-file your… Read More »
Categories: 2019 September - Insurance Issue, ArticlesYour 2020 program: Simple, clear, stable
Base premium unchanged LAWPRO is once again pleased to report that the base premium will remain unchanged at $2,950 for 2020. When LAWPRO was handed responsibility for providing E&O insurance in 1994, the premium was $5,600. In fact, if inflation were removed, today’s premium of $2,950 would be the equivalent to about $1,835 in 1995… Read More »
Categories: 2019 September - Insurance Issue, ArticlesFrequently asked questions regarding renewing your coverage (2020)
Q. How do I renew my insurance coverage? A. Filing your renewal application online is quick and easy: 1) Go to lawpro.ca and click on the yellow “LOGIN” box on the right hand side of the page 2) Log in with your Law Society number and confidential online password. If you cannot remember that password… Read More »
Categories: 2019 September - Insurance Issue, Articles2020 insurance coverage for lawyers in private practice
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 2020), applicable to claim expenses, indemnity payments and/or costs of repairs together. Standard deductible: $5,000 per claim, applicable to claim expenses, indemnity payments… Read More »
Categories: 2019 September - Insurance Issue, Articles, Content Type2020 insurance coverage for exempt lawyers
• in-house corporate counsel • government lawyers, educators and others not in active private practice • retired lawyers, estate trustees, emeritus lawyers, judges and others no longer practising law • legal aid clinic lawyers (not directly employed by Legal Aid Ontario) • lawyers who engage in only occasional practice in Ontario and are resident in… Read More »
Categories: 2019 September - Insurance Issue, ArticlesLandmines for Lawyers When Drafting Wills
When it comes to mistakes and claims, the Achilles heel for lawyers in the wills and estates area is drafting wills: Making will-drafting errors – either because of poor communication, inadequate discovery or errors in law – is the single most common issue in claims reported in this area of law. In many cases, the… Read More »
Categories: Articles, Communications Errors, Failure to Know The Law, Inadequate Investigation, Wills & EstatesEditorial: A careful balance
By Dan Pinnington, President & CEO of LAWPRO. My first year as CEO has flown by. It seems like just yesterday that I was writing remarks as the incoming President & CEO for the 2017 Year in Review issue of LAWPRO Magazine. I believe it was a successful year of transition, for both me and… Read More »
Categories: 2019 May - 2018 Year in review, Articles, Editorials2018 Financial results explained
Net premiums: $107.5 million We kept our base premium unchanged this year, and that consistency is reflected in 2018’s net earned premiums of $107.5 million being only slightly below last year’s result. Since the number of practising lawyer full-time-equivalents (FTEs) is a solid 27,323, which is slightly higher than expected, the small reduction in net… Read More »
Categories: 2019 May - 2018 Year in review, Articles, Year in ReviewE&O program review: Risk in the balance
When it comes to long-term trends in the quantity and causes of malpractice claims, slow and steady are positive descriptors. While many things in the legal profession could stand to move at a faster pace, predictable changes to potential risks allow LAWPRO to adequately plan for future costs and outlays by balancing them against premiums,… Read More »
Categories: 2019 May - 2018 Year in review, Articles, Errors & Omissions, Year in ReviewEnsuring good services with good service
LAWPRO’s Underwriting & Customer Service department supports the primary program at LAWPRO, just like a sales department and customer help-line in a typical insurance company. A new record is established soon after a lawyer is called to the Ontario bar, and existing records are adjusted as lawyers move their practice, or move out of private… Read More »
Categories: 2019 May - 2018 Year in review, Articles, Year in Review