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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 awarded A (Excellent) financial strength rating by leading rating agency

PDF file for download (Size: 17K)

Toronto, ON, January 31, 2003 - For the third consecutive year, A.M. Best Co., a leading rating agency, has awarded Lawyers' Professional Indemnity Company (LAWPRO) an "A (Excellent)" financial strength rating.

A.M.Best cited the company's profitable operating performance, strong capital position, effective management team, favorable loss reserve development and overall financial strength as key indicators that earned LAWPRO the "A" rating.

"The company's risk-based underwriting model has resulted in consistent profitable underwriting results, which combined with investment income, have contributed to the sustained internal growth of LAWPRO's capital and financial strength," A.M. Best Co. commented.

The rating agency also commented on LAWPRO's decision to forgo quota-share reinsurance coverage for its Ontario program in 2003: "The company's disciplined management, strengthened capital position and stop-loss arrangement ensure it is able to assume 100 per cent of the Ontario program without compromising its financial strength," according to the A.M. Best Co. media release.

LAWPRO's ability to earn this rating despite a difficult business climate for the insurance industry over the past 18 months reflects well on measures the company has taken to secure its long-term financial strength, according to LAWPRO President Michelle Strom. "We are fortunate that we are able to reap the benefits from our disciplined approach in recent years. Our robust financial position - as confirmed by A.M.Best Co. - enables us to insulate ourselves during these volatile market conditions, while maintaining an innovative insurance program that can respond to the needs of the legal profession."

LAWPRO is a Toronto-based company licensed to provide lawyers' liability insurance, including excess liability insurance. It currently provides comprehensive liability insurance programs to Ontario's 18,500 practising lawyers and the 450 members of the Newfoundland bar. TitlePLUS, LAWPRO's title insurance product, is now available in Atlantic Canada, Ontario, Manitoba and Alberta.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.

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Contact:   Michelle Strom
President, LAWPRO
[email protected]
(416) 598-5802
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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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