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Last update: Sept. 28, 2017

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 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

A.M. Best Affirms Rating of Lawyers' Professional Indemnity Company

OLDWICK, N.J. January 15 (BestWire) - A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Lawyers' Professional Indemnity Company (LAWPRO) (Toronto). LAWPRO is wholly owned by the Law Society of Upper Canada, which is the governing body of Ontario lawyers. The rating outlook is stable.

The rating reflects LAWPRO's strong operating performance, excellent capitalization, and its historically favorable loss reserve development. The company specializes in underwriting lawyers' professional liability coverage on a claims made basis in Ontario, Newfoundland and Labrador, along with title insurance products in numerous jurisdictions across Canada. In addition to its favorable underwriting results, the company maintains a conservative investment portfolio, which provides a consistent source of investment income. This combination of underwriting results and investment income has greatly supported the growth in capitalization over the years.

Partially offsetting these rating factors are LAWPRO's rising costs associated with defending claims. Furthermore, LAWPRO's unique business niche exposes it to changes in the economy and litigation environment.

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:

Public Relations
Jim Peavy
(908) 439-2200, ext. 5644
[email protected]
Analyst
Joseph Barrett
(908) 439-2200, ext. 5412
[email protected]
 
Rachelle Striegel
(908) 439-2200, ext. 5378
[email protected]
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Key DatesMore

January 31, 2018
Real estate and civil litigation transaction levies and forms are due for the quarter ended December 31, 2017.

February 6, 2018
Lump sum payment of 2018 premium by cheque or pre-authorized bank account withdrawal received on or before this date are eligible for a $50 (per lawyer) early payment discount on the 2018 policy premium (see the 2018 Program Guide for details).


 

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