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Last update: Sept. 28, 2017

2017 Releases

  • 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.


2016 Releases

  • 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.



2015 Releases



2014 Releases

  • 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.



Media Release archive


Media contacts:
Naomi Dummett
Director of Communications
Tel: 416-596-4652
Toll-free: 1-800-410-1013
E-mail:



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MEDIA RELEASE
For immediate release

LAWPRO program to help lawyers comply with anti-money laundering legislation

Toronto, ON-May 15, 2001: Lawyers' Professional Indemnity Company (LAWPRO) announced today a comprehensive four-part program to help lawyers comply with the federal government's new Proceeds of Crime (Money Laundering) Act.

The program, launched under LAWPRO's practicePRO banner, consists of:

  • an eight-page bulletin which provides lawyers with an overview of the key obligations they face under the Act, as well as some tips on how they can prepare their practices to ensure they are in compliance with the Act;
  • a detailed Web-based Guide that reviews obligations under this legislation. The Guide, available on the practicePRO website by late May 2001, will be updated regularly to reflect changes in the Act, Regulations and Guidelines over the next 12-18 months;
  • a Draft Compliance Manual, being jointly produced by LAWPRO and the Law Society of British Columbia, which assists lawyers in meeting one of their principal obligations and which each law firm can adapt for its own use. This manual should be available for download later this summer;
  • an e-mail news list, to which lawyers can subscribe to receive notification of updates to the Web-based Guide or other news relevant to the proceeds of crime legislation. Subscribe at: www.practicepro.ca/mlnotice.asp.
"This legislation raises significant practice management issues that lawyers must be aware of and which will require significant lead time to implement," said Michelle Strom, President of LAWPRO.

Daniel Pinnington, Director of practicePRO, added, "Our goal was to distill the voluminous amount of information contained in the legislation and associated regulations and guidelines, into a practical form that provides lawyers with an overview of the issues at hand, access to the information they need, and tools that make it easier for them to comply."

practicePRO is LAWPRO's risk and change management program. Through print and web-based tools and resources, practicePRO endeavours to help lawyers adapt to change and adopt technology. Other practice resources in print and online versions include: a series of booklets on Managing the Practice of Investing in Clients; Managing the Lawyer/Client Relationship; and Managing Conflict of Interest Situations; a series of technology tips; and the online COACHING CENTRE, a self-coaching tool, that allows lawyers to address issues such as stress management, communications, procrastination, business development, among many others.

LAWPRO is a wholly Canadian owned insurance company that currently provides professional liability insurance to approximately 18,000 Ontario lawyers, as well as title insurance through its TitlePLUS program in numerous jurisdictions across Canada.

-30-

Editorial note: Fact sheet (see below)
To access the bulletin online, go to www.practicepro.ca/practice/mlguide.asp

Fact Sheet

LAWPRO program for lawyers re: "Proceeds of Crime Money Laundering Act"

The Issue

  • By summer lawyers and law firms will be expected to comply with the extensive new obligations set out in the Proceeds of Crime Money Laundering Act.

Lawyer and law firm responsibilities

  • Appoint compliance officer.
  • Report extensive information on "suspicious" and " large cash transactions" to a new government agency.
  • Keep detailed written records containing identity and other personal and financial data for some client transactions.
  • Have in place a formal compliance regime including a compliance manual.
  • Keep abreast of the legislation and regulations as they are implemented.
Penalties
  • Failure to comply with the Act could subject lawyers/or their employees and law firms to stiff fines of up to $2 million, as well as possible jail terms
LAWPRO's role
LAWPRO has launched a four-part awareness information campaign to help lawyers prepare to comply with their obligations under the Act. The three components of the program, launched under the practicePRO banner, are:
  1. an eight-page bulletin which provides lawyers with an overview of the key obligations they face under the Act as well as some tips on how they can prepare their practices to ensure they are in compliance with the Act;
  2. a detailed Web-based Guide that reviews obligations under this legislation. The Guide, available on the practicePRO website by late May 2001 will be updated regularly to reflect changes in the Act, Regulations and Guidelines over the next 12-18 months.
  3. a Draft Compliance Manual, being jointly produced by LAWPRO and the Law Society of British Columbia, which assists lawyers in meeting one of their principal obligations and which each law firm can adapt for their own use. This manual should be available for download later this summer.
  4. an e-mail news list, to which lawyers can subscribe to receive notification of updates to the Web-based Guide or other news relevant to the proceeds of crime legislation. Subscribe at: www.practicepro.ca/mlnotice.asp.

For more information, please contact:

Dagmar Kanzler
Director of Communications
Tel: 416-598-5844 1-800-410-1013
Fax: 416- 599-8341
e-mail: [email protected]
Daniel Pinnington
Director of practicePRO
Tel: 416-598-5863 1-800-410-1013
Fax: 416-599-8341
e-mail: [email protected]
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Key DatesMore

On or about October 2, 2017
LAWPRO online filing of Professional Liability Insurance renewal applications for 2018 is expected to begin. If you wish to file a paper application instead of filing online, please note that paper renewal applications will not be automatically mailed out, but it is expected that you will be able to download a 2018 pre-populated paper renewal application from our website starting on or about October 2, 2017.

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


 

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