LAWPRO base premium decreased to $2,950
PLUS strategies to promote access to justice
Toronto, ON, September 22, 2016 –LAWPRO is pleased to announce that Convocation of the Law Society of Upper Canada approved its 2017 insurance program for the Ontario Bar.
After careful analysis of claims history, capital accumulation, and the need to continue to operate the company in a commercially reasonable manner, the 2017 base premium was reduced from $3,350 to $2,950.
“LAWPRO offers an affordable and effective insurance program that is sensitive to the needs of a changing bar. Our commitment is to refine the insurance policy and terms to take into account developments in the profession we serve and the needs of lawyers’ clients,” said LAWPRO CEO, Kathleen Waters.
The 2017 LAWPRO insurance program also includes the following updates:
- To promote access to justice and to address the lower demonstrated risk of certain government employed lawyers, there is a new 75% premium adjustment available for those employed by specific Designated Agencies. These Designated Agencies will typically assist those who would otherwise have challenges in accessing legal advice, and thus advance access to justice. Civil litigation transaction levy payments are not needed for the services provided in the course of the lawyer’s employment with a Designated Agency.
- The 2017 primary insurance policy has also been amended to better address coverage for seconded lawyers and to extend the $250,000 defence-only coverage to the benefit of the seconded lawyer if the “employer exclusion” of the Policy applies.
For details on the LAWPRO 2017 insurance program, see LAWPRO Magazine Insurance Issue.
LAWPRO is owned by the Law Society of Upper Canada and is licensed to provide professional liability insurance in Ontario and title insurance in numerous jurisdictions across Canada. Through its malpractice insurance program, LAWPRO insures over 25,500 practising lawyers in Ontario, as well as providing them with risk and practice management information under the practicePRO® banner. LAWPRO’s TitlePLUS® title insurance program is available to Canadian lawyers and Quebec notaries to better meet their clients’ needs for professional legal advice and superior protection for their real estate transactions.
Naomi Dummett, Director of Communications
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