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LAWPRO policy

Liability insurance for lawyer/directors of charities or non-profits

Serving as a director of a charitable or not-for-profit corporation can be a rewarding but potentially risky experience. A director can be held personally liable for his or her own actions or failures to act, as well as jointly and severally liable with the other members of the board of directors. Directors with specialized knowledge… Read More »

Categories: Articles, Content Type, LAWPRO policy, Topics

2017 Annual Review: Coverage

cover of May 2018 issue

Lowered premium proves successful; maintained for another year For the 2017 professional indemnity insurance renewal, LAWPRO introduced a $2,950 base premium, a $400 reduction from the year prior. Despite the lower premium, the company was able to meet its claims obligations on a roughly “break-even” basis – an approach made possible by the achievement of… Read More »

Categories: 2018 May Year in Review 2017, Articles, Content Type, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy, Year in Review

What new lawyers need to know about LAWPRO’s mandatory professional liability insurance (2018 edition)

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These FAQs answer some of the more common questions we hear from newly-called lawyers. The answers will help you determine if you need insurance coverage (or whether you’re exempt) and the steps you need to take to get your LAWPRO insurance coverage in place. What is professional liability insurance? Professional liability insurance is designed to… Read More »

Categories: 2018 Student Issue 6, Articles, Content Type, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy, Student, Topics

LAWPRO is not like your auto insurer (2018 student edition)

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In my more than 20 years of defending lawyers on malpractice claims, I continue to be amazed at how little some lawyers seem to know about the “LAWPRO policy” and how a claim is handled. I am also frustrated by how often lawyers have not done even the simplest things that could help them avoid… Read More »

Categories: 2018 Student Issue 6, Articles, Content Type, Errors & Omissions, LAWPRO Magazine Article Type, LAWPRO policy, Student, Topics

Thinking of virtual GC work? Understand your coverage needs

Thinking of virtual GC work?

Outsourcing services that fall outside a company’s core expertise (consider for example executive recruiting or IT services) allows the company to access expert work product on an as-needed basis. Outsourcing means not having to pay a full-time salary to an expert who is needed less than full-time, and not having to pay the full cost… Read More »

Categories: 2018 February Top Legal Disruptions, Articles, Content Type, Errors & Omissions, Future of law, LAWPRO policy, Topics

LAWPRO is not like your auto insurer: Dispelling common myths about your insurance coverage

In my more than 20 years of defending lawyers on malpractice claims, I continue to be amazed at how little some lawyers seem to know about the “LAWPRO policy” and how a claim is handled. I am also frustrated by how often lawyers have not done even the simplest things that could help them avoid… Read More »

Categories: 2018 February Top Legal Disruptions, Articles, Content Type, Errors & Omissions, LAWPRO Magazine Article Type, LAWPRO policy, Topics

Why 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, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy, Topics

Does your firm need cybercrime insurance?

In a study titled The Cost of Cybercrime, Accenture surveyed 254 companies in seven countries. Over the course of five years, the study revealed a 62 per cent increase in cybercrime attacks. Data breaches during the same period doubled to 130 per year. Accenture noted that while not every security breach results in a loss,… Read More »

Categories: 2018 February Top Legal Disruptions, Articles, Content Type, Cyber dangers, Disaster Planning, Firm Management, Insurance Business, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy, Legal Technology, Topics

Your 2018 insurance program

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Quick summary: Base premium for 2018: $2,950 Part-time practice billing limit updated Innocent Party/Partner levy reduced No more civil litigation transaction levies for family law matters Civil litigation transaction levy increased to $100   Base premium stable The base premium for 2018 will remain unchanged at $2,950. Claims management and cost containment efforts are expected… Read More »

Categories: 2017 September - Insurance Issue 2018, Articles, Content Type, Errors & Omissions, LAWPRO policy
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