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Category: LAWPRO Magazine

Quick summary of 2020 policy and key dates

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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, Articles

2020 insurance coverage for lawyers in private practice

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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 Type

2020 insurance coverage for exempt lawyers

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• 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, Articles

2018 Financial results explained

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 Review

E&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 Review

Ensuring good services with good service

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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

Repairs: The best defence is ensuring a defence isn’t needed

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Most potential claims don’t result in litigation or settlement. The timely reporting of practice errors allows our counsel to step in and help lawyers take steps to rectify errors and prevent losses. LAWPRO counsel have substantial knowledge and experience in areas commonly associated with repairable practice errors, such as potentially missed limitation periods, administrative dismissals,… Read More »

Categories: 2019 May - 2018 Year in review, Articles, Casebook, Year in Review
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