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E&O Insurance >Insurance Type >Mandatory Innocent Party Insurance

Innocent Party Insurance

Mandatory Innocent Party Coverage (associations, partnerships and LAW CORPORATIONS with more than one LAWYER)

 

Innocent Party Coverage protects members of the public - and thereby you - against the dishonest, fraudulent, criminal, or malicious acts or omissions of present or former partners, associates, employed LAWYERS and firm EMPLOYEE(S). The increased incidence of fraud-related claims also highlights the benefits of Innocent Party Coverage.

Eligibility

Minimum level Innocent Party coverage is required for all LAWYERS practising in association, partnership (including general, MULTI-DISCIPLINE AND/OR COMBINED LICENSEE PARTNERSHIPS and LLP partnerships) or a LAW CORPORATION (with more than one LAWYER).

Coverage

Coverage sublimit: $250,000 per claim/in the aggregate applicable to claim expenses, indemnity payments and/or costs of repairs. Note that one claim with substantial defence costs would quickly erode the amount of funds available for indemnity.

This $250,000 sublimit coverage is provided within the primary insurance program coverage limits, and not in addition to the $1 million/$2 million coverage in place under the mandatory insurance program.

Premium $250 per insured LAWYER per POLICY PERIOD
Key DatesMore

October 31, 2017
Real estate and civil litigation transaction levies and forms are due for the quarter ended September 30, 2017.

November 7, 2017
E-filing deadline: Renewal applications filed online on or before November 7 qualify for a $25 per lawyer e-filing discount applied to the 2018 insurance premium.

November 14, 2017
Renewal Application filing deadline: 2018 LAWPRO renewal applications filed after this date will be subject to a surcharge equal to 30 per cent of the base premium.


 

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