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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

New LAWPRO® booklet helps lawyers better manage practice finances

Adobe PDF document 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:

  • 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.
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.

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.

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For information contact:
Daniel Pinnington
Director of practicePRO
[email protected]
416-598-5863
 
Dagmar Kanzler
Director of Communications
[email protected]
416-598-5844
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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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