LAWPRO Base Premium Stable for Fourth Consecutive Year
Policy adapts to changes in profession, evolving risks
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/27/13 -- For the fourth consecutive year, LAWPRO will hold the base premium for the mandatory insurance program at $3,350 for 2014.
A withdrawal of $5 million in premium from the Law Society E&O Fund will permit LAWPRO to maintain stability with respect to the base premium for its mandatory insurance program for Ontario lawyers, despite the company's prediction that claims costs for 2014 are unlikely to recede from the $100 million range reached after steady increases over the past decade.
The 2014 LAWPRO insurance program incorporates a number of changes designed to help the program adapt to changing risk patterns and changes in the delivery of legal services:
About LawPRO
Lawyers' Professional Indemnity Company (LawPRO) is owned by the Law Society of Upper Canada and licensed to provide professional liability insurance and title insurance in numerous jurisdictions across Canada. Through its malpractice insurance program, LawPRO insures about 24,000 practising lawyers in Ontario, as well as providing them with risk and practice management programs to assist them in their law practices under the practicePRO banner. LawPRO's TitlePLUS® title insurance program is available to more than 4,500 lawyers across Canada and Quebec notaries to better meet their clients' needs for professional legal advice and superior protection for their real estate transactions.
Connect with us on Twitter: (at)LAWPRO and on LinkedIn: LAWPRO
® Registered trademark of Lawyers' Professional Indemnity Company
Contacts:
LAWPRO
Kathleen A. Waters
President and CEO
416-598-5879
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Datum: 27.09.2013 - 13:23 Uhr
Sprache: Deutsch
News-ID 1267787
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