LawPRO Home
Twitter Icon LinkedIn Icon Facebook Icon       

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:



Click on the icon to download Acrobat reader
Acrobat Reader

For the Visually Impaired
To access online conversion tools for Adobe PDF Documents go to: http://www.adobe.com/accessibility.html.
 

 

Media release
For immediate release

LAWPRO holds line on insurance premiums
Base premium stays at $2,500 per lawyer for 2004

Adobe PDF document PDF file for download (Size: 16KB)

Toronto, ON: September 25, 2003: Lawyers will be paying a base premium of $2,500 per lawyer for their professional liability insurance coverage in 2004, with some lawyers paying as little as $1,113, depending on the coverage options they select, their practice areas and years in practice. This is unchanged from 2003, despite difficult investment and commercial insurance markets.

Since assuming responsibility for the administration of the insurance program in 1995, Lawyers' Professional Indemnity Company (LAWPRO) has consistently reduced rates from a high of $5,600 in 1995 to the current $2,500 base premium.

With interest rates at historic lows, investment returns will not be available to significantly subsidize premiums in 2004. As well, the professional liability marketplace continues to experience reduced capacity: Double and even triple digit premium increases for liability coverage have been reported for some commercial programs.

"It is in tight markets such as these that LAWPRO really comes into its own and provides value to the profession. We can provide a stabilizing influence without compromising a principal goal: to provide lawyers with a cost-effective program in which insurance premiums reflect the risk associated with law practice. Moreover, our strong financial position going into this hard market allows us to retain 100 per cent of the premiums and losses in the core program ourselves," said Michelle Strom, LAWPRO president & CEO.

LAWPRO has also announced a number of modifications to the coverage provided under the insurance policy to address specific exposure issues:

  • Lawyers who provide investment advice or services may find that claims arising out of these services are excluded from coverage under the LAWPRO policy, unless the advice or services were a direct consequence of providing legal services; and
  • Lawyers who become involved in business ventures or investments outside their legal practice may also find claims arising out of these services are excluded from coverage; specifically, the policy has been modified to exclude from coverage claims relating to or arising out of any business ventures or investments which do not directly relate to the lawyer's practice of law.

As well, the $50 per transaction civil litigation transaction levy surcharge has been modified and will no longer apply to divorces and adoption proceedings which are not opposed on any issue.

LAWPRO also confirmed its commitment to expand its Continuing Legal Education (CLE) premium credit program, which entitles lawyers who have participated in LAWPRO-approved CLE programs to a $50 per program credit which is applied to their insurance premium (to a maximum credit of $100 per lawyer). An analysis of lawyers' loss experience indicates that those who participated in approved CLE programs have fewer claims on average than those who do not. "It appears that focused CLE can favourably influence claims frequency, and we intend to work closely with all segments of the Bar to expand the roster of programs approved for this credit," Ms. Strom said.

Lawyers' Professional Indemnity Company (LAWPRO) is a wholly Canadian-owned insurer providing a diverse range of insurance-related programs, services, and resources, including title insurance, to support the legal community in numerous jurisdictions across Canada.

-30-

For information contact:
Michelle Strom
President
[email protected]
416-598-5802
Dagmar Kanzler
Director of Communications
[email protected]
416-598-5844
top of the page
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.


 

© 2017 Lawyers' Professional Indemnity Company (LAWPRO). All Rights Reserved.

Privacy  |  Legal  |  Terms & Conditions  |  Refunds & Returns  |  Feedback  |  Accessibility  |  Anti-Spam