Last update: March 20, 2018
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 approves LAWPRO's 2018 insurance program for the Ontario Bar.
Data analysis leads to refinements in risk-rating.
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
Director of Communications
For immediate release
New LAWPRO® booklet helps lawyers better manage practice finances
PDF file for download (Size: 25K)
March 31, 2003, Toronto, ON: Lawyers seeking help in planning, managing and organizing their practice finances can now turn to the new managing the finances of your practice booklet published by Lawyers' Professional Indemnity Company (LAWPRO).
The booklet provides a comprehensive review of the various steps lawyers can take to better manage the finances of their practices. It covers issues that must be dealt with for new and established practices, and highlights some longer-term financial planning issues related to practice wind-up.
Some of the topics covered include:
The booklet is available on the practicePRO Web site at www.practicepro.ca/financesbooklet.
As a supplement to this booklet, practicePRO has created a business plan outline, sample budget, associate agreement, and sample retainer agreements.
- implementing internal controls for handling and documenting of all types of financial transactions, including the use of trust accounts;
- retainers, fee agreements, retainer replenishment, time docketing, and billing;
- preparing business plans, budgets, and cash flow planning/statements; and
- pre and post-retirement professional liability insurance coverage issues.
Managing the finances of your practice is the sixth in a series of booklets published by practicePRO, LAWPRO's risk and change management program. These booklets provide tips and practical advice to help lawyers minimize the risk of a malpractice claim and build more successful law practices.
Complementing the booklet is the March 2003 issue of LAWPRO Magazine (www.lawpro.ca/magazine) which features comments from lawyers at various sized firms on how they manage the finances of their practices.
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
19,400 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.
For information contact:
Director of practicePRO
Director of Communications