Errors & Omissions
Coverage: 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 ReviewDoes my LawPRO insurance cover assumed risks?
There are different types of risks that can lead to claims against lawyers: those that develop from errors or omissions, those that arise through intentional wrongdoing, and those that lawyers willingly accept for themselves. A lawyer’s professional indemnity (E&O) policy is intended to respond to claims arising from a lawyer’s error, omission or negligent act… Read More »
Categories: 2017 February Neuroscience, Errors & Omissions, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy2017 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 a Canadian jurisdiction other than… Read More »
Categories: 2016 October - Insurance Issue 2017, Articles, Errors & Omissions, LAWPRO policyOn parental leave from your private practice? Relax, you’re covered
Lawyers about to become parents sometimes ask about their coverage while on parental leave. The answer is simple: if a lawyer was in private practice before taking the leave and was covered under the Program policy, and then suspends private practice for “family (or illness) reasons” (with intention to return) for up to five years,… Read More »
Categories: 2016 October - Insurance Issue 2017, Articles, Errors & Omissions, LAWPRO policyLawyers: (Safely) make your own dent in the affordability barrier
Removing the barriers that stand between ordinary Ontarians and legal remedies will be a complex, long-term exercise. However, setting aside a few hours to do pro bono work is one way for lawyers to make a meaningful individual contribution to the bigger picture. LawPRO eases the decision to offer uncompensated services by offering lawyers special… Read More »
Categories: 2016 September A2J, Access to Justice, Articles, Errors & Omissions, LAWPRO policy, Pro bonoLAWPRO coverage subject to continual review
Experiencing a little déja vu when renewing your professional indemnity insurance in recent years? You’re not mistaken – LawPRO’s base premium for the Law Society’s mandatory insurance program has not changed since 2011. But the stability of the premium belies a continual effort, on the part of LawPRO underwriters, to stay ahead of developments in… Read More »
Categories: 2016 May - Year in Review 2015, Articles, Errors & Omissions, Year in ReviewService: Streamlined and responsive
LAWPRO’s Customer Service and Underwriting department makes or receives over 40,000 customer phone calls each year. The subject matter of these calls is varied and challenging. Professional indemnity insurance is a complex product, and we offer a wide range of coverage options from which lawyers can choose. To improve our capacity for supporting lawyers in… Read More »
Categories: 2016 May - Year in Review 2015, Articles, Errors & Omissions, Year in ReviewKnow your coverage limits
Knowing your limits may sound like sobering advice, but for lawyers in private practice, knowing the limits of your insurance coverage can help you manage risk. Limits per claim, and limits in the aggregate There are two general types of limits: per claim (the maximum amount payable for any one claim within a policy year)… Read More »
Categories: 2016 May - Year in Review 2015, Articles, Errors & Omissions, LAWPRO policy