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Steer clear of real estate claims by asking these five questions on every deal
The real estate lawyer’s job is more than just conveying title, and not every matter will be straightforward. Communication errors and inadequate investigation are the biggest causes of real estate claims at LAWPRO, respectively 41 per cent and 26 per cent of claims reported between 2001 and 2011. Busy, high-volume practices often lead to situations… Read More »
Categories: 2013 September practicePRO 15th, Articles, Communications Errors, Inadequate Investigation, Real EstateBook reviews: iPad for Litigators and Google Gmail and Calendar in One Hour for Lawyers
The practicePRO Lending Library continues to grow with the addition of two new books: iPad for Litigators, and Google Gmail and Calendar in One Hour for Lawyers. iPad for Litigators Lawyers have quickly learned that their new iPads are for more than just entertainment. Many have seen how they can be utilized in their law… Read More »
Categories: 2013 September practicePRO 15th, Articles, Book ReviewA desire for deluxe car service at a compact car price: What is LAWPRO to do?
The title of this editorial reflects the reality of my world. Times are tough for many legal practitioners (not to mention many would-be clients of those practitioners) and affluent times are not necessarily around the next corner. The financial reset button has truly been hit, in many ways. LAWPRO is no different from any other… Read More »
Categories: 2013 May - Year in Review 2012, Articles, EditorialsSame base premium…but Ontario lawyers saved $5 million in 2012. How?
Despite claims costs in $100 million territory, LAWPRO kept its base premium stable at $3,350 per lawyer from 2011 to 2012. Not all lawyers, however, pay the base premium. Careful claims analysis allows us to offer discounts to insureds such as newly-called lawyers, lawyers who practice part-time, and lawyers who practice exclusively in the low-claims… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Year in Review2012 financial results explained
A. Net premiums: $104.7 million Net LAWPRO revenues in 2012 were $104.7 million, $5 million lower than in 2011, even though the base premium remained stable at $3,350 per lawyer. Of that $5 million decrease, $4.8 million was in the mandatory E&O program, and is attributable to the reduction in the Real Estate Practice Option… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Year in ReviewLarge or small: Every recovery counts
We may not be able to control the amount of claims we receive, but here at LAWPRO we do actively pursue recovery of costs owing to us from third parties throughout the year. Regardless of the amount recoverable, where the cost of recovery efforts warrant, we take action to enforce judgments, file writs, and take… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Corporate Law, Wills & Estates, Year in ReviewLAWPRO works with lawyers to correct errors and minimize losses
“Repair” work − steps taken to correct an error or problem to minimize or avoid claims costs − is an important part of LAWPRO’s claims portfolio. Depending on the nature of the error, LAWPRO may take these steps directly, or provide support while the insured conducts a “self-repair”. The most commonly-repaired claims are in the… Read More »
Categories: 2013 May - Year in Review 2012, Admin dismissals/Rule 48, Articles, Casebook, Civil Litigation, Wills & EstatesKnowing when to take a stand: LAWPRO defends its insureds in 2012
LAWPRO pays an indemnity to resolve a claim only in a minority of cases. In the years 2008-2012, LAWPRO made an indemnity payment in just 14.5 per cent of files, on average. However, many claims must be actively defended: over that same period, over 42 per cent of claims required the expenditure of external defence… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Casebook, Civil Litigation, Limitation Periods, Personal injury, Tax, Wills & EstatesTitlePLUS program update: Responding to market chill with service improvements, public relations initiatives
TitlePLUS results reflect market weakness A cautious, sometimes pessimistic mood permeated the Ontario real estate market in 2012. Sales dipped – modestly in some markets, more dramatically in others – and warnings of a more dramatic slide dominated real estate reporting for much of the year. Because title insurance sales are so closely tied to… Read More »
Categories: 2013 May - Year in Review 2012, Articles, TitlePLUSLAWPRO committed to corporate social responsibility
2012 was the first full year of LAWPRO’s Corporate Social Responsibility (CSR) program. To help familiarize our staff, the bar, and other external stakeholders with our CSR commitment, we created a Corporate Social Responsibility brochure. Please get in touch with us to request copies, available both in print and in PDF format. The LAWPRO CSR… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Year in Review