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LAWPRO Magazine: 2018 May Year in Review 2017
In This Issue of LAWPRO Magazine
Editorial: Retiring President & CEO
This is my last editorial for LawPRO Magazine. After 10 years as CEO it is time for me to retire from LAWPRO. The title of CEO comes with a certain reputation. One knows that opportunities for growth and development will be offered but also great expectations will need to be met. I faced both to… Read More »
Editorial: Incoming President & CEO
As a young litigator in Niagara more than two decades ago, I had to report my first claim to LPIC (as it was then known). I remember my feelings like it was yesterday. It was a simple and preventable error – missing a notice period on a slip and fall. I felt embarrassed. I felt… Read More »
2017 Annual Review: Financial Results Explained
A. Net premiums: $108.5 million LAWPRO net earned premiums in 2017 w ere $108.5 million. As expected, premiums from the mandatory insurance program were considerably lower than in 2016 ($115.8 million) following a reduction in the annual base premium from $3,350 to $2,950. Nevertheless, they were still higher than the amount budgeted for the year… Read More »
2017 Annual Review: Coverage
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 »
Repairs: Putting Things Right For Our Insureds in 2017
The ideal way to handle errors is to repair them before they can cause any harm. Claim repairs have the potential not only to limit costs to the insurance program, but also to restore clients’ faith in the legal profession and to protect lawyers’ reputations. LAWPRO counsel repair claims in all areas of law, using… Read More »
In Defence of Our Insureds in 2017
LAWPRO defends actions against lawyers and licensed paralegals practising in every area of the law. In our February issue, we highlighted 2017 civil litigation claims. Family law A plaintiff hired a lawyer to handle certain financial matters, including the drafting of a prenuptial agreement, in preparation for her upcoming marriage. It eventually came to light… Read More »
practicePRO Program: 2017 Year at a Glance
January What do homeowners really know about title insurance? We stopped commuters in downtown Toronto to ask. The results were amusing and illuminating, and the video is available on LAWPRO’s YouTube channel as part of our public awareness campaign to educate the public on the role of lawyers. February We released two issues of LAWPRO… Read More »
Everything old is new again: Will the return of a broader rent control regime haunt the Ontario real estate bar?
For decades the existence of rent control has posed a risk to Ontario real estate lawyers acting on the purchase and mortgaging of residential rental property. The range of affected properties is immense: From a basement apartment to a rented single family house to the largest multi-residential complexes in the province, many real estate files… Read More »
2017 Annual Review: TitlePLUS Program
Pre-underwritten title insurance for new builds New Home Program and New Condo Select were developed with you in mind. With the TitlePLUS department underwriting specific new home and residential condo developments in Ontario, it’s quick and easy for you to obtain title insurance policies for your purchaser and lender clients – while saving on disbursement… Read More »
2017 Annual Review: Corporate Social Responsibility Comes Into Its Own
LAWPRO’s corporate social responsibility (CSR) experience has grown with our business. Our wellness, outreach, and charitable programs are evolving organically, driven by employee interest and engagement. Simply put, our CSR program is a natural and self-sustaining part of our corporate culture and identity. The following article highlights our activities in 2017. Fostering the legal profession… Read More »