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LAWPRO Magazine: 2026 October Insurance 2027
In This Issue of LAWPRO Magazine
Your 2027 program: New cyber enhancements
Quick Summary: Introduction of first-party cyber coverage Risk-rated increase to transaction levies Base premium increase from $3,250 to $3,550 Decrease in the Part-Time Practice Discount New cyber coverage An enhancement to the 2027 program is the introduction of first-party cyber coverage. This coverage is intended to provide lawyers with access to financial protection following cyber… Read More »
What’s new for 2027
Base premium increase In developing the 2027 program, LAWPRO considered sustained increases in claims frequency and costs, the evolving cyber risk environment, and the need to maintain long-term financial sustainability, while also preserving affordability for the profession. The chart below shows the consistent growth in claims over the long term. Program changes, including the premium… Read More »
New Cybersecurity Awareness Training resources for lawyers and law firms
The prevalence of cyber risks is underscored by multiple successful cyberattacks on Ontario law firms over the last several months that resulted in unauthorized withdrawals of several million dollars. Many of these frauds could have been easily prevented. Active frauds can be stopped if lawyers and law firm staff recognize the red flags of a… Read More »
Lawyers in private practice, sole practitioners and lawyers in association or partnership in 2027
Insurance coverage provided The base program Eligibility: Required of all lawyers¹ providing services in private practice. Standard insurance coverage limit: $1 million per claim/$2 million in the aggregate (i.e., for all claims made in one year), applicable to claim expenses and/ or indemnity payments (some exceptions apply). Standard deductible: $5,000 per claim, applicable to claim… Read More »
2027 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 a Canadian jurisdiction other than… Read More »