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Last update: March 20, 2018


2018 Releases


2017 Releases

  • 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.


2016 Releases



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 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.

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For information contact:
Michelle Strom
President
[email protected]
416-598-5802
Dagmar Kanzler
Director of Communications
[email protected]
416-598-5844
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Key DatesMore

April 30, 2018
Real estate and civil litigation transaction levies and forms are due for the quarter ended March 31, 2018.

April 30, 2018
Exemption forms from lawyers not practising civil litigation or real estate and wanting to exempt themselves from quarterly filings are due.

July 31, 2018
Real estate and civil litigation transaction levies and forms are due for the quarter ended June 30, 2018.


 

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