Content Type
E&O Program: Claims report
Administrative dismissal of actions: Was 2016 the calm before the storm? Claims trends in 2016 seemed to follow now-familiar patterns – certain types of claims increased, others abated, and overall claims costs continue to hover around the $100 million mark. However, in the final months of the year, LawPRO claims personnel saw an increase in… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Year in ReviewCoverage: Premium remains stable in 2016
The year 2016 marked the sixth year in which most insured lawyers paid a base premium of $3,350 for their professional indemnity insurance. As rents and property values continue to climb, and as technology becomes obsolete at an ever-increasing rate, we were proud to be among the few practice expenses NOT growing in 2016. LawPRO… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Errors & Omissions, Year in ReviewAnswering your complex coverage questions
LawPRO’s Underwriting & Customer Service (UCS) Department handles applications and renewals for the primary professional indemnity insurance program, which provided coverage to over 26,000 lawyers in 2016. New accounts are established as lawyers are first licensed, existing accounts are amended as lawyers change practice setting or type, and all accounts are renewed each fall. For… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Errors & OmissionsRepairing errors to head off claims
Timely efforts by LawPRO to “repair” errors committed by lawyers save the Ontario bar millions of dollars every year. To preserve these repair opportunities, lawyers should contact us as soon as it becomes clear that a mistake may have been made on a file. LawPRO successfully argues for rectification of a will provision A multi-million… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Civil Litigation, Errors & Omissions, Wills & Estates, Year in ReviewStanding up for lawyers
The great majority of claims reported to LawPRO are either abandoned, settled, or resolved through mediation or arbitration. But if we hope to preserve reasonable and fair limits on the scope of lawyers’ responsibilities, we must occasionally go to court. Our litigation track record is proof of our sound judgment about when to go to… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Year in ReviewAre individuals acting as general counsel to their law firms required to have LAWPRO insurance?
While general counsel have been commonplace in corporate settings for years, it is now becoming more common for law firms to have someone working in a “general counsel” capacity. There is a wide variety in the types of work done by law firm general counsel. Among other things, it can involve advice on human resources… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, FAQs, LAWPRO policyLet’s celebrate! The TitlePLUS program’s 20th anniversary
As the TitlePLUS program celebrates its 20th Anniversary, we pause to reflect on the past while looking forward to a strong and exciting future. From its inception, the TitlePLUS program has always been about more than just title insurance – it addresses the changing realities facing real estate lawyers and consumers and seeks to find… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, TitlePLUSIt’s more than just business – Corporate social responsibility
LawPRO’s continued commitment to its Corporate Social Responsibility (CSR) program was reflected in contributions to the profession, to wellness, and to the community. Fostering the legal profession and access to justice In May of 2016, LawPRO personnel attended the Pro Bono Ontario awards gala to honour the contributions of lawyers, law firms, legal departments, law… Read More »
Categories: 2017 May - 2016 Annual Review, Articles, Insurance BusinessClarification on implementation of non-resident speculation tax changes
With the new Non-Resident Speculation Tax (NRST) statements being required as of April 21, an issue arose as previously signed documents would have lost their approval if someone added the new statements. Late Friday afternoon the Ministry of Finance posted an update that clarifies how previously signed documents can be handled. The Ministry has confirmed… Read More »
Categories: AlertsClarifications on implementation of provincial land transfer tax changes
This afternoon the Ministry of Finance posted an update that clarifies how previously signed documents will be handled. The Ministry’s update makes it clear that previously signed documents will remain signed and can be registered “as is” through the transition period. The new LTT statements section will appear on all documents (including previously signed documents)… Read More »
Categories: Alerts