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LAWPRO policy

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

Don’t let claims follow you into retirement

Lawyers often approach retirement feeling good about their legacy. Whether you devoted your efforts to crafting airtight contracts, supported clients as they worked toward mediated settlements, or stood up for the rights of those who needed you, you’re entitled to feel proud of your accomplishments. Looking back, however, may heighten your awareness of just how… Read More »

Categories: 2017 August Managing Change, Articles, Content Type, Errors & Omissions, LAWPRO Magazine, LAWPRO policy, Legal Careers

Are individuals acting as general counsel to their law firms required to have LAWPRO insurance?

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While general counsel have been commonplace in corporate settings for years, it is now becoming more common for law firms to have someone working in a “general counsel” capacity. There is a wide variety in the types of work done by law firm general counsel. Among other things, it can involve advice on human resources… Read More »

Categories: 2017 May - 2016 Annual Review, Articles, FAQs, LAWPRO policy

Does my LawPRO insurance cover assumed risks?

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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 policy

Understand how changing your practice status affects your insurance needs

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A few of our most common questions about changes to practice status I may be taking a leave of absence from my practice. Do I have to continue to purchase insurance coverage? If you are planning a temporary leave from practice, you may become exempt from the requirement to buy insurance. If you meet the… Read More »

Categories: 2017 February Neuroscience, FAQs, LAWPRO Magazine, LAWPRO Magazine Article Type, LAWPRO policy

What new lawyers need to know about LawPRO’s mandatory professional liability insurance

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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: 2017 Student Issue No 5, Articles, LAWPRO policy, New Lawyers
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