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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

LAWPRO awarded sixth annual A (Excellent) financial strength rating

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Toronto, ON, January 12, 2006 - Lawyers' Professional Indemnity Company (LAWPRO) has been awarded an "A (Excellent)" financial strength rating for the sixth year in a row from A.M. Best Co., a leading rating agency.

A.M. Best attributes LAWPRO's ability to consistently earn this rating and a stable outlook to the company's underwriting and operating strength, excellent capitalization and a skilled management team.

"Historically strong operating results are supported by the company's use of a risk-based underwriting model, which provides greater control over matching risk factors to the cost of insurance. Further supporting underwriting experience is conservative yet consistent investment income. Operating experience has supported the growth in capital and current capital strength," A.M. Best Co. said in its news release.

A.M. Best also commented on LAWPRO's ability to manage risks on its insurance program: A combination of stop-loss reinsurance and self-insurance arrangements have mitigated potential exposure resulting from LAWPRO's decision to forgo quota share reinsurance coverage for the insurance program since 2002; LAWPRO has maintained strong reserves that address the incidence of fraud-related claims; underwriting losses reported in some of the recent years are primarily due to a return of premiums, rather than an indication of deteriorating underwriting experience.

"Overall, A.M. Best believes that the company's disciplined management, strong results and excellent capital position will ensure its ability to assume the liability program without compromising its financial strength."

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 through its TitlePLUS program, to support the legal community in numerous jurisdictions across Canada.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.

Contact:

Michelle Strom
President & CEO, LAWPRO
[email protected]
416-598-5802
Dagmar Kanzler
Director of Communications
[email protected]
416-598-5844
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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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