E&O Insurance >FAQS>LAWYERS in Private Practice FAQs
LAWYERS in Private Practice FAQs
If you have questions that are not answered below, or if you need further clarification or information, please contact
LAWPRO®'s Customer Service department toll-free at 1-800-410-1013, 416-598-5899 in Toronto
or at [email protected].
If you are planning a temporary leave from practice, you may wish to claim exemption under the program. If you meet the
Rules of Eligibility for exemption (c) (available to
LAWYERS on a temporary leave of absence),
you may complete an Application for Exemption form and
submit to LAWPRO prior to the commencement of your leave of absence. You will be entitled to a return of premium while you are
on a leave of absence, subject to a minimum 30 days premium and limited to the premium relating to the 30-day period
immediately preceding LAWPRO's receipt of your written notice, and any subsequent period thereafter.
Regretfully, for those carrying the real estate practice coverage option, we are not able to backdate for this 30-day period.
As a sole practitioner, innocent party coverage is not mandatory. However LAWYERS practising in association, partnership, or in a law partnership are required to have innocent party coverage. Therefore, as a LAWYER now practising in a partnership, you are now required to carry innocent party coverage. In addition, as you will now be practising in a partnership, all LAWYERS are required to choose and qualify for the same insurance coverage options.
The professional liability insurance policy belongs to the individual LAWYER, and not the firm. This means that if you leave one firm to join another, your coverage follows you. Written instructions are required to make any changes to your policy coverage options or status.
Under the current Law Society program, those appointed to the bench are exempt from purchasing the ongoing insurance coverage under the program, but are provided, free of charge, with $250,000 per CLAIM and aggregate (not reinstated) Run-Off Coverage, subject to a $5,000 per CLAIM deductible. The coverage limits and deductible are applicable to CLAIM expenses, indemnity payments (including pre-judgment interest) as well as costs of repairs.
Run-off Coverage does not provide coverage for CLAIMS arising out of professional services you provide while exempt from paying the insurance premium.
We recommend that judges and exempt LAWYERS consider applying for additional Run-Off limit protection beyond this standard
Run-Off Coverage. Additional Run-Off Coverage limits of $500,000 per CLAIM/$500,000 in the aggregate, and $1 million per
CLAIM/$2 million in the aggregate, are offered under the Law Society's program.
For further details, we would refer to the "Insurance Matters for Retired LAWYERS"
booklet which provides more detail regarding the Run-Off Coverage available under the Law Society's program, as well as some
of the types of questions you may wish to consider in assessing what exposures may arise out of your past practice.
If you wish to be provided with a no-obligation estimate, please complete and submit an Application to Increase Run-Off Coverage
and we would be pleased to provide you with the estimate.