LAWPRO policy
What new lawyers need to know about LAWPRO’s mandatory professional liability insurance
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: 2015 Student Issue 3, Articles, Errors & Omissions, Law students/new lawyers, LAWPRO policy, StudentFrom crisis to innovation: 20 years of LAWPRO professional liability insurance
Twenty years ago, an investigative task force appointed by the Law Society of Upper Canada made a sobering discovery: the fund established to pay for professional indemnity claims against Ontario lawyers was underfunded by over $200 million dollars. The resulting crisis presented the bar in Ontario with one of the most serious challenges in its history…. Read More »
Categories: 2015 February - LAWPRO 20th, Articles, Errors & Omissions, Features, LAWPRO policyExemption eligibility for “employed” lawyers
A common fallacy is that all lawyers who work in a corporate, government, education or municipal setting will be entitled to an exemption from the requirement to pay LAWPRO premiums for the Law Society’s mandatory insurance program. Depending on the employment relationship and the nature of the work, this may not be true. To qualify… Read More »
Categories: 2014 October - Insurance Issue 2015, Articles, Errors & Omissions, LAWPRO policyIs there a deductible for claims under my Run-Off coverage?
You may be one of the many lawyers that were in private practice at one point – but have now retired, opted to work for the government, as in-house counsel, or in another career entirely. Wouldn’t it be great if your exposure to claims ended as soon as you took down your private practice shingle?… Read More »
Categories: 2014 June - Year in Review 2013, Articles, Errors & Omissions, LAWPRO policyWhat new lawyers need to know about LAWPRO’s mandatory professional liability insurance
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: 2014 Student Issue 2, Articles, Errors & Omissions, Law students/new lawyers, LAWPRO policy, New LawyersThe LAWPRO $250,000 cybercrime coverage: What it covers and why
As of the 2014 policy year, the LAWPRO mandatory insurance program will include express coverage in the amount of $250,000 for losses related to cybercrime, as defined in the policy. This sublimit (or cap) of coverage provides a modest “safety net” for lawyers in the area of cybercrime exposure. We say modest because like the… Read More »
Categories: 2013 December Cybercrime, Articles, Cyber dangers, Errors & Omissions, LAWPRO policyCyber risk insurance options: Do you have the coverage you need?
The prevalence of cyber-related crime has been steadily increasing for a number of years. Many businesses invest heavily in the necessary IT infrastructure to protect their data, but despite best efforts and intentions, the frequent news stories in the press should serve as confirmation that breaches do occur. The cost implications of having personal or… Read More »
Categories: 2013 December Cybercrime, Articles, Cyber dangers, Disaster Planning, Errors & Omissions, Firm Management, LAWPRO policyWhat does your malpractice policy cover? Individual lawyers or the law firm?
Have you ever wondered why LAWPRO’s policy for the Law Society of Upper Canada insurance program (the “primary policy”) insures lawyers on an individual basis while excess insurance is issued on a firm-wide basis? Most Ontario lawyers have probably never considered this question. And while it may seem to be a rather subtle distinction, the… Read More »
Categories: 2013 September practicePRO 15th, Articles, Errors & Omissions, Insurance Business, LAWPRO policyWhy the LAWPRO base premium is only the start of the story
Why is Ontario lawyers’ professional liability insurance more expensive than other provinces’? It’s a legitimate question, and easy enough to formulate. The answer is either very simple or very complicated and detailed, because it means comparing apples to oranges. The simple answer A simple answer points to the fact that a person asking the question… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Insurance Business, LAWPRO policyWondering when to report that claim or potential claim? Do it now
Do you think you may have a claim to report, but are wondering about timing? There are no good reasons to delay in reporting a claim, and many excellent reasons to do so as early as possible. Under the current mandatory program of insurance for lawyers, the policy that responds is the one in force… Read More »
Categories: 2013 May - Year in Review 2012, Articles, Errors & Omissions, LAWPRO policy