Last update: Sept. 28, 2017
LAWPRO receives “A” rating from A.M. Best Co. (Nov. 22, 2017)
A.M. Best Co. awarded Lawyers’ Professional Indemnity Company a financial strength rating of “A” and an issuer credit rating of “a” for the seventeenth consecutive time.
2018 Insurance Program (Sept. 28, 2017)
Convocation of the Law Society of Upper Canada approves LAWPRO's 2018 insurance program for the Ontario Bar.
Data analysis leads to refinements in risk-rating.
2017 Insurance Program (Sept. 22, 2016)
Convocation of the Law Society of Upper Canada approves LAWPRO's 2017 insurance program for the Ontario Bar.
Base premium decreased to $2,950 plus strategies to promote access to justice.
LAWPRO receives “A” rating from A.M. Best Co. (Aug. 16, 2016)
A.M. Best Co. awarded Lawyers’ Professional Indemnity Company a financial strength rating of “A” and an issuer credit rating of “a” for the sixteenth consecutive time.
Kathleen A. Waters to receive OBA Award of Excellence in Real Estate (May 24, 2016)
On June 22nd, the Ontario Bar Association will present LAWPRO President and CEO Kathleen A. Waters with the Award of Excellence in Real Estate.
LAWPRO base premium stable for fifth consecutive year (Sept. 24, 2014)
Strong financial results and a moderating claims count have allowed LAWPRO to hold the base premium for the mandatory insurance program at $3,350 for the fifth consecutive year. 2015 marks 20 years of LAWPRO operating primary insurance program.
For more details of the 2015 insurance program, see our Report to Convocation.
LAWPRO receives "A" rating from A.M. Best Co. (June 2, 2014)
A.M. Best Co. has awarded Lawyers’ Professional Indemnity Company (LAWPRO) a financial strength rating of A (Excellent) and an issuer credit rating of "a" for the fourteenth consecutive time. In addition, A.M. Best Co. gave LAWPRO a "stable" outlook for the third year in a row.
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TitlePLUS® expands into Atlantic Canada
Toronto, ON: TitlePLUS today announced the first phase of a planned national rollout of its title insurance products: Lawyers in all four provinces of Atlantic Canada - New Brunswick, Nova Scotia, Prince Edward Island (PEI), and Newfoundland and Labrador - can now secure TitlePLUS coverage for consumers who buy or refinance/mortgage property.
TitlePLUS, which is widely used to insure thousands of purchase and refinance/mortgage-only properties in Ontario, is now licensed to sell title insurance in Ontario, Atlantic Canada, Manitoba and Alberta.
Like their Ontario counterparts, lawyers in Atlantic Canada will be able to easily access TitlePLUS coverage for their transactions in one of two ways:
By contacting the TitlePLUS hotline at 1-800-410-1013 to request a TitlePLUS policy; OR
By completing and faxing to TitlePLUS an application form which they can access from the TitlePLUS website
(www.titleplus.ca) or from TitlePLUS directly.
TitlePLUS completes all of the necessary paperwork and provides the lawyer with a draft TitlePLUS policy and other materials to review with their client.
TitlePLUS offers comprehensive title PLUS legal services protection
TitlePLUS offers consumers and lenders alike some of the most comprehensive title-related protection available on the market today. Its policy automatically insures both buyers and lenders for title-related problems that could affect the ownership or marketability of the property in the future, as well as for the legal services provided by the lawyer closing the transaction.
Moreover, TitlePLUS insures against many of the risks that normally would be beyond the scope of the lawyer's opinion - issues such as fraud, forgery, survey errors, the absence of an up-to-date survey and errors made by governments.
If a problem with title surfaces after the deal has closed, or if it is discovered that the lawyer made an error or omission, TitlePLUS either pays to rectify the problem (for example, moving a garage off a neighbour's property line) or compensates the appropriate parties up to the full value of the title insurance policy. The insurer also will pay the legal costs of defending the title.
TitlePLUS eliminates delays and facilitates complicated closings
TitlePLUS will often provide survey coverage without an up-to-date survey, thus saving the purchaser money and time. It will also provide insurance against known minor issues (such as a minor setback deficiency), which often hold up closings because lenders are wary of advancing funds until these issues have been resolved. With TitlePLUS, the closing can proceed on time, and TitlePLUS assumes the risk associated with rectifying the issue in the future, if necessary.
Coverage for all types of transactions
TitlePLUS is available for new and used homes, condominiums, cottages, rural properties and residential rental properties of up to four units, and covers both purchase and mortgage-only/refinance transactions.
Since it was launched in Ontario in 1997, TitlePLUS has become an integral part of the conveyancing services offered by real estate lawyers in that province. The Atlantic Canada expansion is part of a national rollout of TitlePLUS commencing in 2002 that will ensure lawyers in all jurisdictions have access to TitlePLUS products.
TitlePLUS was developed by Lawyers' Professional Indemnity Company (LAWPRO), a wholly Canadian-owned insurance company providing title insurance in the Canadian market. LAWPRO currently underwrites the professional liability insurance program for all members of the Ontario and Newfoundland bars, in addition to providing TitlePLUS in Ontario and Atlantic Canada.
January 8, 2002
® Registered trademark of Lawyers' Professional Indemnity Company (LAWPRO).