Articles
Run-Off coverage: The coverage you have after you leave practice
When lawyers retire, get appointed to the bench, go in-house or otherwise claim exemption from maintaining LAWPRO insurance, they commonly ask LAWPRO two questions: 1. Do they still need to pay for insurance? 2. What sort of services are they still allowed to perform? When you leave private practice you are not “off the hook”… Read More »
Categories: 2020 January - Finding Your Way, Articles, Errors & Omissions, LAWPRO policyDid you know that some title insurers include exceptions to fraud coverage for private lender transactions where the mortgage funds are not paid to acceptable parties?
In light of the commonly held view that real estate is a safe investment, many individuals use mortgage investments to supplement income or as a means of saving for retirement. Unfortunately, a reality of the current real estate landscape is that private lenders are often the target of identity frauds. A title insurance policy generally… Read More »
Categories: 2020 January - Finding Your Way, Articles, Practice Tips, Real Estate, Title insurancePaying attention to the fraud behind the curtain
We have previously written about the dangers associated with email spoofing and phishing schemes, where fraudsters will send fabricated emails purporting to be from a trusted colleague or third party in an effort to trick a lawyer or staff member into clicking on a dangerous link or downloading a dangerous attachment. These fraudulent schemes continue… Read More »
Categories: 2020 January - Finding Your Way, Articles, Cyber dangers, Tech TipsBook review: A Lawyer’s Guide to Healing
“If I had to pick the most common malady affecting lawyers, it would be alcoholism.” This is according to Don Carroll, former director of the North Carolina Lawyer’s Assistance Program and author of A Lawyer’s Guide to Healing: Solutions for Addiction and Depression. In the book, he examines how addiction and depression manifest in the… Read More »
Categories: 2020 January - Finding Your Way, Articles, Book Review, Content Type, WellnessQuick summary of 2020 policy and key dates
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, ArticlesYour 2020 program: Simple, clear, stable
Base premium unchanged LAWPRO is once again pleased to report that the base premium will remain unchanged at $2,950 for 2020. When LAWPRO was handed responsibility for providing E&O insurance in 1994, the premium was $5,600. In fact, if inflation were removed, today’s premium of $2,950 would be the equivalent to about $1,835 in 1995… Read More »
Categories: 2019 September - Insurance Issue, ArticlesFrequently asked questions regarding renewing your coverage (2020)
Q. How do I renew my insurance coverage? A. Filing your renewal application online is quick and easy: 1) Go to lawpro.ca and click on the yellow “LOGIN” box on the right hand side of the page 2) Log in with your Law Society number and confidential online password. If you cannot remember that password… Read More »
Categories: 2019 September - Insurance Issue, Articles2020 insurance coverage for lawyers in private practice
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 Type2020 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… Read More »
Categories: 2019 September - Insurance Issue, ArticlesLandmines for Lawyers When Drafting Wills
When it comes to mistakes and claims, the Achilles heel for lawyers in the wills and estates area is drafting wills: Making will-drafting errors – either because of poor communication, inadequate discovery or errors in law – is the single most common issue in claims reported in this area of law. In many cases, the… Read More »
Categories: Articles, Communications Errors, Failure to Know The Law, Inadequate Investigation, Wills & Estates