Excess insurance
Hot real estate market? Excess coverage protects your practice as property values soar?
Current market conditions mean business is booming for lawyers, but keep in mind that your risk exposure may be growing in lockstep with property values. A hot market changes the way real estate deals unfold. Not only do lawyers see a higher transaction volume, but unconditional offers proliferate, and closing intervals may shrink. All these… Read More »
Categories: 2022 June - After Covid 19, Articles, Excess insuranceHot real estate market? Excess coverage protects your practice as property values soar
Current market conditions mean business is booming for lawyers, but keep in mind that your risk exposure may be growing in lockstep with property values. A hot market changes the way real estate deals unfold. Not only do lawyers see a higher transaction volume, but unconditional offers proliferate, and closing intervals may shrink. All these… Read More »
Categories: Articles, Excess insurance, Real EstateWhy Excess insurance? Celebrating 20 years of the Excess program
In 1996 and 1997 LAWPRO (or “LPIC” as it was then known) began collecting information on whether lawyers had coverage in excess of the $1 million per claim/$2 million in the aggregate limits provided under the mandatory program. The thinking wasn’t that everyone necessarily needs excess. After all, some areas of practice are considered low… Read More »
Categories: 2018 February Top Legal Disruptions, Articles, Content Type, Excess, Excess insurance, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy, TopicsDoes a big claim scare you?
Excess insurance from LawPRO can give you peace of mind 1. What is excess coverage? Excess coverage is insurance that covers (for eligible claims) losses in excess of those covered under Ontario lawyers’ mandatory professional indemnity coverage, up to a limit chosen by the insured. Unlike the primary layer of coverage, under which the lawyer… Read More »
Categories: 2017 February Neuroscience, Excess, Excess insurance, LAWPRO Magazine, LAWPRO Magazine Article TypeDoes your firm need to consider Excess insurance?
Test your exposure by checking each statement that is true for you or your firm: I am unsure of the file practices, procedures, and communications, in-take procedures, documenting retainers, reviewing opinions, docket controls, diary systems, completeness of documentation and file retention of all tenants, associated law practices, co-counsel, back-up or previous counsel I have worked… Read More »
Categories: 2016 September A2J, Articles, Excess, Excess insuranceExcess coverage protects growing real estate practices
Is your real estate practice growing? That’s a good thing. But keep in mind that your risk exposure may be growing along with it. A hot market can mean a higher transaction volume, unconditional offers, and shorter closing times. All of these factors place pressure on lawyers, and can increase the chance of an error… Read More »
Categories: Areas of Law, Articles, Content Type, Excess insurance, Real EstateAre you covered for a big claim? Consider LAWPRO Excess Insurance
With your Law Society insurance renewing January 1, it is a good time to consider your firm’s excess needs. Remember that the limits on LAWPRO’s primary program are $1 million per claim/$2 million in the aggregate. Could any of your matters lead to a malpractice claim of more than $1 million? Don’t forget to include… Read More »
Categories: 2014 October - Insurance Issue 2015, Articles, Excess, Excess insuranceUntangling the myths of Excess insurance
Unfortunately, far too many lawyers do not appreciate their full exposure to claims and how excess insurance could be of benefit to them. Excess liability insurance is intended to provide additional limits over that provided by the underlying (primary) liability policy. For lawyers in Ontario, the underlying insurance which all practising lawyers (not on exemption)… Read More »
Categories: 2014 September Diversity, Articles, Excess, Excess insuranceAre you covered for a big claim? Consider LAWPRO Excess Insurance
With your Law Society insurance renewing January 1, it is a good time to consider your firm’s excess needs. Remember that the limits on LAWPRO’s primary program are $1 million per claim/$2 million in the aggregate. Could any of your matters lead to a malpractice claim of more than $1 million? Don’t forget to include… Read More »
Categories: 2013 October - Insurance Issue 2014, Articles, Excess, Excess insuranceExcess insurance offers peace of mind to lawyers and law firms
Would your exposure on a negligence claim be over the individual lawyer’s $1 million per claim or $2 million in the aggregate limits offered under the LAWPRO policy for the Law Society of Upper Canada program (the “primary policy”)? Excess insurance – insurance that covers you for claims after the limits under the primary policy… Read More »
Categories: 2013 September practicePRO 15th, Articles, Excess, Excess insurance