Articles
2012 financial results explained
A. Net premiums: $104.7 million Net LAWPRO revenues in 2012 were $104.7 million, $5 million lower than in 2011, even though the base premium remained stable at $3,350 per lawyer. Of that $5 million decrease, $4.8 million was in the mandatory E&O program, and is attributable to the reduction in the Real Estate Practice Option… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Year in ReviewLarge or small: Every recovery counts
We may not be able to control the amount of claims we receive, but here at LAWPRO we do actively pursue recovery of costs owing to us from third parties throughout the year. Regardless of the amount recoverable, where the cost of recovery efforts warrant, we take action to enforce judgments, file writs, and take… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Corporate Law, Wills & Estates, Year in ReviewLAWPRO works with lawyers to correct errors and minimize losses
“Repair” work − steps taken to correct an error or problem to minimize or avoid claims costs − is an important part of LAWPRO’s claims portfolio. Depending on the nature of the error, LAWPRO may take these steps directly, or provide support while the insured conducts a “self-repair”. The most commonly-repaired claims are in the… Read More »
Categories: 2013 May - Year in Review 2012, Admin dismissals/Rule 48, Articles, Casebook, Civil Litigation, Wills & EstatesKnowing when to take a stand: LAWPRO defends its insureds in 2012
LAWPRO pays an indemnity to resolve a claim only in a minority of cases. In the years 2008-2012, LAWPRO made an indemnity payment in just 14.5 per cent of files, on average. However, many claims must be actively defended: over that same period, over 42 per cent of claims required the expenditure of external defence… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Casebook, Civil Litigation, Limitation Periods, Personal injury, Tax, Wills & EstatesTitlePLUS program update: Responding to market chill with service improvements, public relations initiatives
TitlePLUS results reflect market weakness A cautious, sometimes pessimistic mood permeated the Ontario real estate market in 2012. Sales dipped – modestly in some markets, more dramatically in others – and warnings of a more dramatic slide dominated real estate reporting for much of the year. Because title insurance sales are so closely tied to… Read More »
Categories: 2013 May - Year in Review 2012, Articles, TitlePLUSLAWPRO committed to corporate social responsibility
2012 was the first full year of LAWPRO’s Corporate Social Responsibility (CSR) program. To help familiarize our staff, the bar, and other external stakeholders with our CSR commitment, we created a Corporate Social Responsibility brochure. Please get in touch with us to request copies, available both in print and in PDF format. The LAWPRO CSR… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Year in ReviewWhy the LAWPRO base premium is only the start of the story
Why is Ontario lawyers’ professional liability insurance more expensive than other provinces’? It’s a legitimate question, and easy enough to formulate. The answer is either very simple or very complicated and detailed, because it means comparing apples to oranges. The simple answer A simple answer points to the fact that a person asking the question… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Insurance Business, LAWPRO policyWondering when to report that claim or potential claim? Do it now
Do you think you may have a claim to report, but are wondering about timing? There are no good reasons to delay in reporting a claim, and many excellent reasons to do so as early as possible. Under the current mandatory program of insurance for lawyers, the policy that responds is the one in force… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Errors & Omissions, LAWPRO policyBe smart about spam: Use whitelisting so you don’t miss key messages
Spam is a problem that never seems to go away. email service providers are always coming up with new ways to identify suspected spam to try to keep it out of your inbox. this often involves assigning points to certain words or phrases, and enough points will get the email blocked. sometimes simply sending an… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Legal Technology, Tech TipsAvoiding the unintentional expansion of retainers
Here’s the scenario: A lawyer is retained to assist a client with a tort claim and an accident benefits claim. The client, meanwhile, has been informed that the long-term disability (LTD) benefits provided by her employer’s group plan are about to be terminated. In an effort to forestall the termination of benefits, she asks the… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Communications Errors, Practice Tips