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
LAWPRO holds insurance premium increase to three per cent for 2006
PDF file for download (Size: 33KB)
Toronto, ON, September 22, 2005: - The base liability insurance premium paid by most Ontario lawyers under the Law Society's insurance program will be $2,700 per lawyer in 2006, up $75 from $2,625 in 2005.
The three per cent increase in the base premium is in keeping with general increases in the cost of living. Sound management of claims costs and profitable results for the first half of 2005 have enabled LAWPRO to keep premium increases to a minimum.
Premiums for many lawyers in 2006 will be significantly below the base premium of $2,700 with some lawyers paying as little as $1,217, depending on the practice and coverage options selected. Premiums for other insurance coverage, transaction levies and discounts will remain the same as they were in 2005.
Two notable changes will be made to the insurance program in 2006:
- Exemption for Legal Aid Clinic volunteers: LAWPRO has made a number of changes to the insurance program over the past few years to support lawyers wishing to provide pro bono legal services in Ontario. The program will be expanded further to allow lawyers who are otherwise retired to volunteer their time without incurring insurance premiums for work in clinics, societies or corporations funded by Legal Aid Ontario.
- Mortgage brokering exclusion: The Ontario government is proposing new legislation governing mortgage brokering and lending activities. Once the Ontario government passes the proposed new legislation, LAWPRO will modify its insurance coverage in this area to insure lawyers for the specific legal services that fall within the exemption provisions for lawyers in the proposed legislation.
Expanded online transactions
LAWPRO continues to expand its e-business capabilities to better serve lawyers insured under the program. Many of the more than 17,000 lawyers who are expected to file insurance applications online this fall will have instant access to their 2006 policy documentation and invoice. In 2006, LAWPRO will roll out a new Web site that will provide a variety of new self-service, online features, including access to a personalized, detailed summary of the status of a lawyer's insurance account, as well as the ability to change payment instructions.
Lawyers' Professional Indemnity Company (LAWPRO) is a wholly Canadian-owned insurance company providing professional liability insurance and title insurance in numerous jurisdictions across Canada.
Our malpractice insurance program currently insures more than 20,000 practising lawyers, as well as providing them with risk and practice management programs to assist them in their law practices.
Our TitlePLUS program helps lawyers better meet their clients' needs for professional legal advice and superior protection for their real estate investment. TitlePLUS title insurance provides buyers and lenders with the most comprehensive protection available from an insurer in the market today.
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