A Short History of a Canadian Lawyers Insurance Program

Size: px
Start display at page:

Download "A Short History of a Canadian Lawyers Insurance Program"

Transcription

1 13 TH Malaysian Law Conference The 1 st Malaysian Professional Indemnity Insurance Workshop A Short History of a Canadian Lawyers Insurance Program Susan I. Forbes, Q.C. Director of Insurance Lawyers Insurance Fund Law Society of British Columbia, Canada November 17 and 18, 2005

2 A Short History of a Canadian Lawyers Insurance Program Introduction In British Columbia, one of the ten provinces and three territories that constitute Canada, the government has charged its Law Society with the paramount duty of upholding and protecting the public interest in the administration of justice. The Society is also responsible for protecting the interests of its lawyer members. In 1969, the Law Society faced a challenge in meeting its duties to the public and the profession, brought about by a crisis in the professional liability insurance market. As a result of an unwillingness to pay the required premiums or an inability to obtain insurance on reasonable terms, too many B.C. lawyers were either under-insured or practising without any insurance whatsoever. When a lawyer suffered a loss for which he was not adequately insured, he was not alone in his misfortune. Often, his client suffered adversely because she was unable to collect her loss from the negligent lawyer. In response to this crisis, the Law Society began to consider implementing a compulsory liability insurance program. During 1969, program proposals from various insurance brokers were evaluated, and in June, 1970, the Law Society appointed its insurance consultant, now known as Jardine Lloyd Thompson Canada Inc ( Jardines ), to implement the program. On January 1, 1971 the first compulsory professional liability insurance program of its kind in North America was introduced. The Law Society arranged for an amendment to its governing legislation to make the program compulsory. Objectives Eight objectives were initially set for the program: 1. all lawyers to be insured All B.C. practising lawyers would be compelled into the program and the insurer obligated to provide insurance, virtually eliminating the possibility of uninsured losses. 2. all lawyers to be insured by the same insurer With a single insurer underwriting the entire program, the Law Society could choose insurers capable of responding to incidents that developed into claims in later years. 3. all lawyers to be insured under the same policy A single policy would allow the Law Society to provide coverage with scope and limits it found acceptable.

3 coverage and cost control The economies of scale inherent in the program would allow the Law Society to offer its members the best possible premium and coverage. 5. introduction of self-insurance The program allowed the introduction of a self-insured retention (S.I.R.), further reducing the premium, as no profit would be required and investment income could be earned on the portion of premiums allocated to pay losses within the S.I.R. 6. professional claims management The Law Society would control a claim service that was efficient and ensured that the public was protected as meritorious claims would be settled on reasonable terms. 7. loss prevention The program would fund and facilitate risk management initiatives to help reduce the likelihood of loss. 8. collection of meaningful statistics With a single insurer, accurate underwriting and claims data for all B.C. lawyers would be available to ensure premiums would be based on accurate data and actuarially justified. Although the program has grown in size and scope since it was established, the long-term objectives initially set for the program have either been met or surpassed in its 34-year history. Structural Changes From 1971 through 1983, the program continued as it was first developed. Underwriting requirements were met by commercial insurers, the Law Society maintained varying levels of S.I.R, and claims management services were outsourced. The policy limits of $100,000 1 per claim and $300,000 in the annual aggregate provided sufficient protection both for lawyers and their clients. 1983, however, marked the beginning of a difficult three-year period. The new commercial insurer underwriting the program suffered significant losses in each of those years. The losses were caused, in part, by a disproportionately high frequency and severity of real estate claims? the unfortunate aftermath of an overly active real estate market that suddenly collapsed, and inordinately high interest rates. The program s ability to attract affordable insurance was in jeopardy. In an effort to stabilize losses, the Law Society took control of the claims management process. In 1986, a claims management company, PLI Claims, was incorporated to provide claims 1 All a mounts in the paper are expressed in Canadian dollars. One Canadian dollar currently equals approximately three Malaysian Ringgits.

4 - 3 - management services in respect of all claims and potential claims (incidents) reported by the Law Society s insured members. PLI Claims was initially incorporated as a subsidiary of Jardines, but in September 1992, the Law Society acquired its shares and brought the claims management operation in-house and integrated it with the Law Society s existing regulatory functions. Today, the Lawyers Insurance Fund continues the operation. With claims management well in hand, the Law Society next turned its attention to determining the best means of ensuring long-term price and program stability. In 1989, after an exhaustive review of various underwriting alternatives, the Law Society decided that a captive insurance company would most effectively meet its needs. Rather than continuing to underwrite with a commercial insurer, a captive could be used to completely control coverage and claims handling, and as a vehicle to access the reinsurance market. On April 4, 1989, the LSBC Captive Insurance Company Ltd was incorporated for these purposes. The other Canadian jurisdictions that now also required their members to carry malpractice insurance achieved similar ends, although through slightly different means: Seven provincial and two territorial law societies in Canada are members of the Canadian Lawyers Insurance Association, or CLIA. Created in 1988, CLIA is a reciprocal insurance exchange that acts as a reinsurer for the mandatory insurance programs of these jurisdictions and also markets voluntary excess insurance to lawyers in other provinces. Ontario, Canada s largest province, created its own insurance company, LawPRO, in 1990 to provide lawyers in Ontario with both insurance and claims management services. LawPRO also provides comprehensive title insurance and legal services coverage for residential purchase and mortgage-only/refinance transactions handled by lawyers. Quebec, Canada s second largest? and primarily French-speaking? province created the Professional Liability Insurance Fund of the Barreau du Québec in The Fund holds an insurer s license and offers both insurance and claims management services to its members. For the next few years, the Law Society continued to use reinsurers to varying degrees to assume a portion of the risk. By 1997, however, the program s strength was such that the Law Society decided not to renew its reinsurance arrangements and to self-fund the full primary limits. Limits of $1 million per error and $2 million in the annual aggregate were set in 1992, and remain unchanged today. Coverage Expansion Over the years, the scope of coverage has expanded. Since 1993, we have implemented: 1. Initiatives to Respond to the Needs of the Profession and the Public To encourage lawyers to give pro bono services to the poor, we provide free insurance coverage to lawyers who are not otherwise insured for mistakes made in providing certain pro bono services. Lawyers who are not otherwise insured include in-house counsel, non-practising and retired lawyers.

5 - 4 - To support lawyers in their real estate ventures, we have extended coverage for errors made by lawyers acting in solicitor property sales, and by adopting a protocol that allows lawyers to accept the risk to lender clients of not obtaining up-to-date building location surveys. To protect both union lawyers and their employee clients, we offer optional insurance coverage to in-house counsel if those lawyers are employed by unions or societies. We also offer optional insurance coverage to public legal service lawyers who are employed by non-profit associations such as Westcoast Environmental Law Group, B.C. Civil Liberties Association and other public interest entities that provide pro bono services to the public. To support interjurisdictional mobility within Canada, we allow B.C. lawyers to practise law in other Canadian jurisdictions without becoming members. Although the policy already provided broad coverage to lawyers practising the law of or in another jurisdiction, the wording was tailored to clearly meet the insurance requirements of the other jurisdictions for mobility. 2. Business Innocent Insured Coverage In 2002, we began offering on an optional basis, a professional liability insurance policy designed to protect innocent partners in firms who may face claims that would otherwise fall within the business exclusion in our primary policy because of the business interests of another lawyer at the firm. The exclusion is triggered when a lawyer is providing services to a company or entity in which she, alone or with family members, holds an interest in the company greater than 10%, or has effective management or control of the company. 3. Defalcation or Misappropriation Insurance The most significant expansion to the policy coverage occurred in May, 2004, when trust protection coverage, or TPC, was added to the policy. In adding TPC, the Law Society changed its process for dealing with defalcation claims from a discretionary fund administered quasi-judicially to a contractually-based insurance fund operated through the claims management process. TPC insures all Law Society members for claims arising from defalcation or the misappropriation of money or property relating to the member s practice of law, and provides a profession-wide annual aggregate of $17.5 million. Whether a member of the public suffers a loss as a result of a lawyer s negligence or theft, the policy responds and the Lawyers Insurance Fund provides the claims handling expertise. The Program Today The policy provides limits of $1 million per error and $2 million in the annual aggregate for a premium of $1,500, unchanged for seven years straight. In 2005, B.C. s premium was the fifth lowest premium out of 14 jurisdictions. The highest premium was $6,000.

6 - 5 - The Lawyers Insurance Fund ( LIF ) manages the program for approximately 7,000 insured lawyers, with a staff of nine claims counsel, a Director of Insurance, Claims Supervisor and Program Administrator. Approximately 1,000 reports of claims and potential claims are received annually. In the past five years, the program has spent annually, on average, $7 million in indemnity payments and $4.5 million in claims expense. The critical components of our program follow. a. Claims Handling Our claims management goal is to: Resolve claims, one file at a time, on a cost-effective basis balancing the interests of the claimant, the insured lawyer and the membership as a whole. LIF is audited regularly by independent third party auditors who report to the Law Society s Board of Directors on LIF s success in meeting that goal. In our most recent external audit, auditors from Crawford Adjusters Canada expressed the opinion that we are highly effective at meeting the claims management goal. Using a three point system where 1 = does not meet expectations, 2 = partially meets expectations and 3 = meets all expectations, the overall audit produced an average of 2.9. The auditors commented that this is an excellent score. In their view, it represents a well-run and efficient claims operation, and staff who are highly qualified and experienced, exhibit judgement indicating a superior knowledge of insurance and the law, and work within a proactive leadership and management structure that supports the skilful and creative and creative resolution of claims. As well, in 2004 an in-depth file audit was performed by an excess insurer. In assessing the effectiveness of LIF s claims management, the auditors concluded that: claims counsel actively manage files and routinely and appropriately check the work of outside defence counsel, ensuring timely reports and appropriate assessments of coverage, liability and quantum issues; policies and procedures put in place are firmly entrenched and uniformly administered; LIF is meeting its objective of reducing the overall cost of claims by the early investigation and assessment of claims to enable damage control and early settlement; and the program is managed and staffed with an enthusiastic and knowledgeable group who work in a co-operative atmosphere, due in part to excellent leadership. Feedback is sought from insured lawyers on the services we provide through a Service Evaluation Form sent out to the insured lawyer on file closing. Lawyers continue to express high satisfaction overall with our services. In 2004, 92% of survey respondents gave a high approval rating (4 or 5 on a scale of 1 to 5) on the outcome of their claims, 95% on the handling of their claims and 96% on the services provided by claims counsel. These high ratings from both external auditors and our insured lawyers are the result of a variety of factors. The most salient are:

7 experienced claims counsel All of our claims counsel are experienced practitioners who work in-house in the dual capacity of legal counsel and claims adjuster. By offering competitive salaries and an excellent working environment, we are able to attract and retain an outstanding team of experienced lawyers who have credibility in the profession. Several of our claims counsel actually worked for us as defence counsel before joining our team, and continue to act as defence counsel on files. We defend approximately 30% of all suits in-house. 2. confidentiality All file information is kept strictly confidential from the regulatory and discipline departments of the Law Society? unless the insured lawyer agrees to the release of information. The confidentiality policy helps ensure that lawye rs report potential claims to us promptly, completely and truthfully, without fear that the information we are collecting to defend them will be used to discipline them. The only exception to this rule is if LIF has evidence of defalcation, fraud or criminal activity. 3. early notice of claims and potential claims Lawyers must give written notice of claims and incidents (or potential claims) as soon as practicable, however unmeritorious they may be. For the past 12 years, the percentage of matters reported as incidents has remained remarkably consistent, within a few percentage points of 65. Early reporting of both claims and incidents allows us to mitigate or avoid a loss, avail ourselves of early, advantageous settlement opportunities, or effectively prepare a defence. We encourage lawyers to contact us first by telephone as soon as they discover a claim or an incident. Early contact allows claims counsel to determine if steps can be taken to repair a problem or affect damage control. 4. proactive resolution The facts and circumstances of active claims are investigated quickly so that realistic reserves can be set and an early determination of strategy made. If a finding of liability is probable and damages can be reasonably assessed, the settlement process begins provided that the claimant s expectations are realistic. 5. preferred defence counsel We retain outside defence counsel from a select group of preferred lawyers, experienced in working with claims counsel in defending lawyers professional liability cases. Our choice of defence counsel for a particular file is based on a number of factors intended to ensure the best match for the file, and we work in close partnership with our counsel in developing and assessing strategy, and discussing and approving steps of any significance in the litigation process. Our philosophy is to encourage counsel to be pro-active and to direct their efforts towards early resolution of claims as soon as enough is known to assess them reasonably. We negotiate our preferred lawyers hourly rates individually, then review and adjust those rates, as appropriate, on an annual basis.

8 quality control The claims management process involves a number of checks and balances, including: b. Coverage All claims counsel perform peer file reviews? written file audits or reviews on files of their colleagues. The review provides claims counsel with feedback on whether they are handling files in accordance with established policies and procedures, and offers an opportunity to learn about effective handling styles or procedures and the other kinds of claims of their colleagues. The process also allows the Director of Insurance to detect systemic problems that may need to be addressed. In order to proceed to trial, claims counsel must obtain approval from the Trial Approval Officer (the Claims Supervisor or a senior claims counsel), at least two months before trial. The purpose of the trial approval process is to ensure that the risk of trial is fully evaluated in every case, and that proceeding to trial is the most appropriate method of resolving the claim. The progress and strategy of claims with large potential losses are monitored regularly and carefully by the Director of Insurance and Claims Supervisor with a view to achieving the most advantageous result for the program. As a self-financing compulsory insurance program for lawyers, we recognize the importance of ensuring impartiality, fairness and consistency in making coverage decisions. Coverage issues are investigated thoroughly at an early stage, with the assistance of outside counsel where necessary. If it appears that coverage should be denied, the claim is referred to the Coverage Committee for decision. The voting members of the Coverage Committee are a representative from Jardines, a practising B.C. lawyer experienced with insurance coverage issues, and the Director of Insurance. In making coverage decisions, the Coverage Committee takes into account the fact that the purpose of the compulsory program is to protect lawyers and the public they serve. The Committee also considers the interests of the Captive, the lawyer involved and any reinsurers and excess insurers who may be affected. Denials have dropped in recent years to less than 2% of all matters reported, as lawyers have become more familiar with the requirements of the policy and organized their activities accordingly. The denials that are made rarely lead to subsequent suits against the insurer for coverage, as the use of the Coverage Committee? rather than the insurer? to deny coverage avoids any perception of bias, a perception cemented by our approach of fairness and consistency. We also provide advance rulings to lawyers on whether the policy will provide coverage for a particular activity or in a particular set of circumstances. In the event of a claim, the advance ruling given is binding on the insurer. Answers to some of the more common coverage inquiries are also available on the Law Society s website ( c. Statistics Accurate statistics are critical to projecting future losses, particularly for a self-insured program. The traditional lag time in developing claims payment statistics has been approximately four to six years. We have tried to reduce this lag time by pressing claims to resolution, and we

9 - 8 - maintain realistic reserves on claims that remain open. Moreover, we keep a current record of payments and reserves in a computerized format so that trends can be identified at an early stage. This is important in setting annual premiums. We also maintain current statistics in a computerized format on the source of claims according to area of practice, type of claim, cause of error, level of experience of the lawyer involved and other criteria, and track specific issues such as immigrant investor schemes, environmental claims, and out-of-province litigation, to name just a few. This information? and our easy access to it? assists in early identification of problem areas that warrant attention for loss prevention. d. Risk Management One of our goals is to reduce the risk of loss. As this goal is based on the theory that risk management ultimately leads to lower claim payments, LIF funds all of the Law Society s risk management activities. There are two separate approaches to our risk management activities: 1. focused risk management Our most effective risk management efforts are those targeted specifically at recent developments in the law or practice traps that could give rise to claims against the unaware or uninformed. We work to manage that risk either by warning the profession, or by attacking the risk directly. An example of the latter is through the orchestration of legislative change. To alert the profession to critical issues that present immediate risks to lawyers, we distribute in paper form or by an ALERT! bulletin or a Notice to the Profession to all lawyers and students in the province. For issues that present a less severe or immediate risk, the regular publication of the Law Society s Practice Advisor s Practice Watch provides an appropriate forum. We are also in a unique position to reduce or eliminate certain risks by creating favourable legal precedents. We regularly identify and discuss cases to take to trial with a view to creating a solid bank of precedents beneficial to the profession in specific situations, or at large. Having direct control over the defence of most of the lawsuits against the members of a professional body, as well as indirect control in litigation involving repairs, affords us the opportunity to create favourable law in appropriate cases (and avoid unfavourable precedents). 2. general risk management We also provide risk management support by gathering information that may be relevant to the cause of the loss or the claim, advising on areas of exposure and practice tips, and offering risk management advice through various publications and presentations. As earlier noted, we maintain statistics in a computerized format on the source of losses and claims according to various criteria. These statistics also allow us to identify the underlying causes of claims using a new coding system introduced in The new coding system allows us to drill down into the root causes of claims and track more meaningful data than is generally kept by insurers for loss prevention purposes. A section

10 - 9 - of the Service Evaluation Form allows us to obtain the insured lawyer s view on what caused the claim or potential claim and how other lawyers might avoid being caught in a similar situation. The statistical reports, in conjunction with the anecdotal information received from the Form, are used in our risk management activities. We offer advice on activities and areas of practice that present potential risks to lawyers through various means. We are consulted regularly on issues affecting the profession that may have risk management components, and given an opportunity for input to help manage those risks. We publish Insurance Issues: Risk Management, a bulletin with risk management tips circulated to all lawyers. Our claims counsel regularly address the profession through continuing legal education forums and presentations to individual firms on risk management issues. Conclusion This paper offers a condensed version of our program s first 34 years. Anyone interested in more information, or copies of our Forms or precedents, is invited to visit the Lawyers Insurance Fund section of the Law Society of British Columbia s website at or contact the author directly at sforbes@lsbc.org. e:\insuranc\sf\misc\malaysian paper.doc

The Law Society's insurance program is managed by the Lawyers Insurance Fund.

The Law Society's insurance program is managed by the Lawyers Insurance Fund. Information Compulsory Professional Liability Insurance 845 Cambie Street, Vancouver, BC, Canada V6B 4Z9 t 604.669.2533 BC toll-free 1.800.903.5300 Membership 604.605.5311 f 604.687.0135 TTY 604.443.5700

More information

Information, Statistics and Tips from the Lawyers Insurance Fund

Information, Statistics and Tips from the Lawyers Insurance Fund FAMILY LAW BASICS 2014 UPDATE PAPER 10.1 Information, Statistics and Tips from the Lawyers Insurance Fund These materials were prepared by Edna M. Ritchie of the Lawyers Insurance Fund, Law Society of

More information

B.C. LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 00-01-01

B.C. LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 00-01-01 B.C. LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 00-01-01 INSURER: THE LSBC CAPTIVE INSURANCE COMPANY LTD. (the Company ) Administrative Offices, 6th Floor, 845 Cambie Street

More information

BC LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 12-01-01 DECLARATIONS

BC LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 12-01-01 DECLARATIONS BC LAWYERS COMPULSORY PROFESSIONAL LIABILITY INSURANCE POLICY NUMBER: LPL 12-01-01 INSURER: THE LSBC CAPTIVE INSURANCE COMPANY LTD. (the Company ) Administrative Offices, 5th Floor, 845 Cambie Street Vancouver,

More information

Resources for BC lawyers An at-a-glance guide to the Law Society of BC

Resources for BC lawyers An at-a-glance guide to the Law Society of BC Resources for BC lawyers An at-a-glance guide to the Law Society of BC Practice resources The Law Society offers a wealth of practice resources on its website to help members in the following areas: client

More information

COAG National Legal Profession Reform Discussion Paper: Professional Indemnity Insurance

COAG National Legal Profession Reform Discussion Paper: Professional Indemnity Insurance COAG National Legal Profession Reform Discussion Paper: Professional Indemnity Insurance Introduction Professional indemnity insurance is insurance that:... indemnifies professional people accountants,

More information

Alberta Lawyers Insurance Association. 2013 Business Plan and Budget

Alberta Lawyers Insurance Association. 2013 Business Plan and Budget Alberta Lawyers Insurance Association 2013 Business Plan and Budget Table of Contents INTRODUCTION... 3 CORPORATE BACKGROUNDER... 3 BUDGET ASSUMPTIONS... 5 BUSINESS PLAN... 6 BUDGET... 8 APPENDIX 1 HISTORICAL

More information

NEW FIRM PRACTICE COURSE PROPOSAL (approved by the Benchers / November 10 2005)

NEW FIRM PRACTICE COURSE PROPOSAL (approved by the Benchers / November 10 2005) 1. Introduction NEW FIRM PRACTICE COURSE PROPOSAL (approved by the Benchers / November 10 2005) In its November 4, 2004 report to the Benchers, the Lawyer Education Task Force outlined several policy objectives

More information

Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004

Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004 LC Paper No. CB(2)2582/03-04(01) Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004 Review of Professional Indemnity Scheme of

More information

Our specialist insurance services for Professionals risks

Our specialist insurance services for Professionals risks Our specialist insurance services for Professionals risks Price Forbes & Partners is an independent Lloyd s broker based in the heart of London s insurance sector. We trade with all of the major international

More information

GUIDE TO PROFESSIONAL LIABILITY INSURANCE HRPA OFFICE OF THE REGISTRAR

GUIDE TO PROFESSIONAL LIABILITY INSURANCE HRPA OFFICE OF THE REGISTRAR GUIDE TO PROFESSIONAL LIABILITY INSURANCE HRPA OFFICE OF THE REGISTRAR Guide to Professional Liability Insurance TABLE OF CONTENTS Page What is professional liability insurance? 2 What is the professional

More information

Sedgwick Risk Management Solutions

Sedgwick Risk Management Solutions There is a lot of uncertainty in the medical malpractice world today. While overall claims volume has decreased in recent years, risk managers are reporting an upswing in both the frequency and severity

More information

Limitation of Liability

Limitation of Liability Limitation of Liability Submission to the Attorney-General (Western Australia) July 2000 The Institution of Engineers, Australia Institution of Engineers, Australia 11 National Circuit, Barton, ACT, 2604

More information

How to Assess Legal Risk Management Practices

How to Assess Legal Risk Management Practices How to Assess s Strategy Areas for Assessment: A number of strategic areas that you may wish to start with are included in the matrix below. We invite comments on additional areas to include. Law Department

More information

Insurance Operations Claim Procedures and the Claim Adjustment Process

Insurance Operations Claim Procedures and the Claim Adjustment Process Insurance Operations Claim Procedures and the Claim Adjustment Process Claims adjusting is the process of determining coverage, legal liability, and settling a claim. The claim function exists to fulfill

More information

A Guide to Legal Malpractice Insurance

A Guide to Legal Malpractice Insurance A Guide to Legal Malpractice Insurance Legal Malpractice Insurance Terms Admitted Carrier A carrier that is licensed and authorized to write insurance in a particular state using rates, rules and forms

More information

Auditor General s Office INSURANCE AND RISK MANAGEMENT REVIEW. February 22, 2010 APPENDIX 1

Auditor General s Office INSURANCE AND RISK MANAGEMENT REVIEW. February 22, 2010 APPENDIX 1 APPENDIX 1 INSURANCE AND RISK MANAGEMENT REVIEW February 22, 2010 Auditor General s Office Jeffrey Griffiths, C.A., C.F.E. Auditor General City of Toronto TABLE OF CONTENTS EXECUTIVE SUMMARY...1 BACKGROUND...3

More information

Guide to Professional Liability Insurance HRPA OFFICE OF THE REGISTRAR

Guide to Professional Liability Insurance HRPA OFFICE OF THE REGISTRAR 2012 Guide to Professional Liability Insurance HRPA OFFICE OF THE REGISTRAR Guide to Professional Liability Insurance TABLE OF CONTENTS Page What is professional liability insurance? 2 What is the professional

More information

What are the main liability policies you should consider for your commercial business?

What are the main liability policies you should consider for your commercial business? A PUBLICATION BY: GODFREY MORROW GODFREY INSURANCE MORROW AND INSURANCE FINANCIAL AND SERVICES FINANCIAL LTD. SERVICES LTD. 2012 What are the main liability policies you should consider for your commercial

More information

All insured's must be owners and likewise all owners must be insured's. Under the LRRA, the membership of the RRG must be relatively homogeneous

All insured's must be owners and likewise all owners must be insured's. Under the LRRA, the membership of the RRG must be relatively homogeneous What is a Risk Retention Group? A risk retention group (RRG) is a policy issuing liability insurance company that is owned by its member insured's and formed under the Liability Risk Retention Act of 1981,

More information

AMO s 2011 Municipal Insurance Survey Results

AMO s 2011 Municipal Insurance Survey Results AMO s Municipal Insurance Survey Results Managing the Cost of Risk August 23, Association of Municipalities of Ontario 200 University Avenue, Suite 801 Canada Tel: 416-971-9856 Fax: 416-971-6191 email:

More information

Alberta Lawyers Insurance Association. 2014 Business Plan and Budget

Alberta Lawyers Insurance Association. 2014 Business Plan and Budget Alberta Lawyers Insurance Association 2014 Business Plan and Budget Table of Contents INTRODUCTION... 3 CORPORATE BACKGROUNDER... 4 BUSINESS PLAN... 5 BUDGET... 6 APPENDIX 1 HISTORICAL LEVY COMPARISON...

More information

Audits of Financial Statements that Contain Amounts that Have Been Determined Using Actuarial Calculations

Audits of Financial Statements that Contain Amounts that Have Been Determined Using Actuarial Calculations Audits of Financial Statements that Contain Amounts that Have Been Determined Using Actuarial Calculations January 2011 Canadian Institute of Chartered Accountants Canadian Institute of Actuaries Audits

More information

Taking care of what s important to you

Taking care of what s important to you A v i v a C a n a d a I n c. P r i v a c y P o l i c y Taking care of what s important to you Table of Contents Introduction Privacy in Canada Definition of Personal Information Privacy Policy: the ten

More information

A Guide to Legal Malpractice Insurance

A Guide to Legal Malpractice Insurance A Guide to Legal Malpractice Insurance Legal Malpractice Insurance Terms Admitted Carrier A carrier licensed and authorized to write insurance in a particular state using rates, rules and forms that have

More information

List the names of all Prior Practices to which this Practice is a successor Practice. Name of Practice Date established Date of succession

List the names of all Prior Practices to which this Practice is a successor Practice. Name of Practice Date established Date of succession UIB GROUP UK PROFESSIONAL INDEMNITY 1. NAME AND ADDRESS DETAILS Practice Name Date Established S.R.A. Registration. Main Office Address Postcode Telephone Number Contact Name Contact E-mail Address Practice

More information

CLAIMS AGAINST TELEPHONE ANSWERING SERVICES: THE TRILOGY OF PREVENTION, HANDLING AND RESOLUTION PART TWO: WHAT TO DO WHEN A CLAIM HAPPENS

CLAIMS AGAINST TELEPHONE ANSWERING SERVICES: THE TRILOGY OF PREVENTION, HANDLING AND RESOLUTION PART TWO: WHAT TO DO WHEN A CLAIM HAPPENS CLAIMS AGAINST TELEPHONE ANSWERING SERVICES: THE TRILOGY OF PREVENTION, HANDLING AND RESOLUTION PART TWO: WHAT TO DO WHEN A CLAIM HAPPENS Martin M. Ween, Esq. Partner Wilson, Elser, Moskowitz, Edelman

More information

How To Manage Claims At The Trust

How To Manage Claims At The Trust GWASANAETHAU AMBIWLANS CYMRU YMDDIRIEDOLAETH GIG WELSH AMBULANCE SERVICES NHS TRUST CLAIMS MANAGEMENT POLICY Clinical Negligence, Personal Injury, Losses and Compensation Claims Approved by Date Review

More information

Professional Indemnity Insurance Guide for FCA Regulated Firms (2015)

Professional Indemnity Insurance Guide for FCA Regulated Firms (2015) Professional Indemnity Insurance Guide for FCA Regulated Firms (2015) Nathan Sewell, CEO of Protean Risk, answers the Top 50 questions we are regularly asked as a specialist provider of Professional Indemnity

More information

Alberta Lawyers Insurance Association. 2015 Business Plan and Budget

Alberta Lawyers Insurance Association. 2015 Business Plan and Budget Alberta Lawyers Insurance Association 2015 Business Plan and Budget Table of Contents INTRODUCTION... 3 LEVY AND BUDGET IMPLICATIONS... 4 BUSINESS PLAN... 6 BUDGET... 7 APPENDIX 1 PROFESSIONAL LIABILITY

More information

C11 Principles and Practice of Insurance

C11 Principles and Practice of Insurance Sample Exam C11 Principles and Practice of Insurance IMPORTANT The time allowed for this exam is 3 hours. Total marks: 200 You must hand in this paper and any paper used for rough work to the supervisor

More information

Written Submission to the Canadian Council of Insurance Regulators Credit Scoring Working Group

Written Submission to the Canadian Council of Insurance Regulators Credit Scoring Working Group Written Submission to the Canadian Council of Insurance Regulators Credit Scoring Working Group Monday, August 8, 2011 The Co-operators is pleased to provide comments to CCIR s issues paper Use of Credit

More information

Guideline on professional indemnity insurance for psychologists

Guideline on professional indemnity insurance for psychologists Guideline on professional indemnity insurance 8304 Contents Summary 1 Background 1 Scope 1 Voluntary work 1 Overseas practitioners 1 Run-off and retroactive cover 2 Group cover 2 Employer cover 2 Educational

More information

LIBERTY INTERNATIONAL UNDERWRITERS CANADA (a division of Liberty Mutual Insurance Company hereinafter called the Company)

LIBERTY INTERNATIONAL UNDERWRITERS CANADA (a division of Liberty Mutual Insurance Company hereinafter called the Company) LIBERTY INTERNATIONAL UNDERWRITERS CANADA (a division of Liberty Mutual Insurance Company hereinafter called the Company) INSURANCE AGENTS AND BROKERS PROFESSIONAL LIABILITY APPLICATION FOR INSURANCE THIS

More information

CITY OF MONTEREY RISK MANAGEMENT POLICY STATEMENT

CITY OF MONTEREY RISK MANAGEMENT POLICY STATEMENT THE RISK MANAGEMENT FUNCTION CITY OF MONTEREY RISK MANAGEMENT POLICY STATEMENT Risk management is an administrative process that applies modern professional methods of loss identification, loss control,

More information

FREQUENTLY ASKED QUESTIONS MOBILITY

FREQUENTLY ASKED QUESTIONS MOBILITY FREQUENTLY ASKED QUESTIONS MOBILITY These FAQs are intended to provide you with an overview to the provisions respecting mobility. The questions and answers are intended as a guide, only. Lawyers seeking

More information

STATUTORY AUDIT SERVICES MARKET INVESTIGATION. Liability, insurance and settlements

STATUTORY AUDIT SERVICES MARKET INVESTIGATION. Liability, insurance and settlements STATUTORY AUDIT SERVICES MARKET INVESTIGATION Liability, insurance and settlements Introduction 1. This paper is part of our assessment of barriers to entry or expansion in the market for statutory audits

More information

UIB UK PROFESSIONAL INDEMNITY

UIB UK PROFESSIONAL INDEMNITY 1. NAME AND ADDRESS DETAILS Practice Name Date Established S.R.A. Registration No. Main Office Address Telephone No. Contact Name Contact E-mail Address Practice Website Postcode Fax No. Do you have any

More information

Samantha Ip Clark Wilson LLP tel. 604.643.3172 ssi@cwilson.com D/RJR/682791.1

Samantha Ip Clark Wilson LLP tel. 604.643.3172 ssi@cwilson.com D/RJR/682791.1 by Samantha Ip Clark Wilson LLP tel. 604.643.3172 ssi@cwilson.com D/RJR/682791.1 TABLE OF CONTENTS A. INTRODUCTION...1 B. GENERAL INFORMATION ON THE TYPES OF LIABILITY INSURANCE...1 1. GENERAL LIABILITY

More information

Assessing and purchasing the appropriate level of cover: a guide to top-up or excess layer insurance:

Assessing and purchasing the appropriate level of cover: a guide to top-up or excess layer insurance: Assessing and purchasing the appropriate level of cover: a guide to top-up or excess layer insurance: July 2015 2015 The Law Society. All rights reserved. Contents Introduction... 3 Status of this guide...

More information

State of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, RI 02920

State of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, RI 02920 Table of Contents State of Rhode Island and Providence Plantations DEPARTMENT OF BUSINESS REGULATION Division of Insurance 1511 Pontiac Avenue Cranston, RI 02920 INSURANCE REGULATION 21 MEDICAL MALPRACTICE

More information

FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS FREQUENTLY ASKED QUESTIONS Administration What is the insurance program? Can I apply for non-active status so I don t have to make an insurance payment or take the mandatory continuing education courses?

More information

Managing General Agents (MGAs) Guideline

Managing General Agents (MGAs) Guideline Managing General Agents (MGAs) Guideline JUNE 2013 DRAFT FOR COMMENT BC AUTHORIZED LIFE INSURERS www.fic.gov.bc.ca PURPOSE This draft guideline outlines best practices that the Financial Institutions Commission

More information

LEADING THE RISK MANAGEMENT CHARGE IN LAW FIRMS

LEADING THE RISK MANAGEMENT CHARGE IN LAW FIRMS LEADING THE RISK MANAGEMENT CHARGE IN LAW FIRMS KAREN K.H. BELL TORONTO, ON LEADING THE CANADIAN LAW FIRM IN THE 21ST CENTURY : MANAGING THE FUTURE NOVEMBER 5 7, 2006 HALIFAX, NS 2 Leading the Risk Management

More information

IN THE SUPREME COURT OF BRITISH COLUMBIA DOROTHY YOUNG SHELL CANADA LIMITED. Brought under the Class Proceedings Act, R.S.B.C. 1996, c.

IN THE SUPREME COURT OF BRITISH COLUMBIA DOROTHY YOUNG SHELL CANADA LIMITED. Brought under the Class Proceedings Act, R.S.B.C. 1996, c. IN THE SUPREME COURT OF BRITISH COLUMBIA No. L021060 Vancouver Registry Between: And: DOROTHY YOUNG SHELL CANADA LIMITED Brought under the Class Proceedings Act, R.S.B.C. 1996, c. 50 Plaintiff Defendant

More information

TITLE INSURANCE REPORT

TITLE INSURANCE REPORT TITLE INSURANCE REPORT Financial Services Commission of Ontario Market Conduct Branch November 2008 TABLE OF CONTENTS INTRODUCTION... 3 SCOPE OF REVIEW... 3 BACKGROUND... 3 MARKET PRACTICES... 4 (I) INSURERS...

More information

Policy and Procedure for Claims Management

Policy and Procedure for Claims Management Policy and Procedure for Claims Management RESPONSIBLE DIRECTOR: COMMUNICATIONS, PUBLIC ENGAGEMENT AND HUMAN RESOURCES EFFECTIVE FROM: 08/07/10 REVIEW DATE: 01/04/11 To be read in conjunction with: Complaints

More information

Q&A. Questions and Answers on Insurance for Housing Co-operatives. What insurance does our housing co-operative need?

Q&A. Questions and Answers on Insurance for Housing Co-operatives. What insurance does our housing co-operative need? Q&A Questions and Answers on Insurance for Housing Co-operatives What insurance does our housing co-operative need? You need at least five kinds of insurance perhaps more, depending on your circumstances.

More information

Coverage is subject to a Deductible

Coverage is subject to a Deductible Frank Cowan Company Limited 75 Main Street North, Princeton, ON N0J 1V0 Phone: 519-458-4331 Fax: 519-458-4366 Toll Free: 1-800-265-4000 www.frankcowan.com CYBER RISK INSURANCE DETAILED APPLICATION Notes:

More information

Solicitors Professional Liability Proposal 2013-14

Solicitors Professional Liability Proposal 2013-14 Solicitors Professional Liability Proposal 2013-14 Proposer Details Practice Title(s) (including service companies) Principal Address line one Principal Address line two City and postcode Telephone number

More information

USING LAWYERS IN HONG KONG

USING LAWYERS IN HONG KONG USING LAWYERS IN HONG KONG This Guide deals in general terms with using lawyers in Hong Kong. It aims to help a seafarer understand the legal profession in Hong Kong, and how to select, engage and if need

More information

Professional Indemnity

Professional Indemnity Allianz Global Corporate & Specialty Professional Indemnity Capability Statement Protecting your clients with a range of professional indemnity products. Professional Indemnity at a glance In an increasingly

More information

205 Richmond St. West, Suite 502 Toronto, ON M5V 1V3 P: 416-599-0770 F: 416-599-3982

205 Richmond St. West, Suite 502 Toronto, ON M5V 1V3 P: 416-599-0770 F: 416-599-3982 205 Richmond St. West, Suite 502 Toronto, ON M5V 1V3 P: 416-599-0770 F: 416-599-3982 February 11, 2014 Dear Member, As an RPN registered in Ontario, you have probably received information from the College

More information

ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance

ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance Contents If using online, click on the headings below to go to the related sections. 1. Introduction 2.

More information

REGISTERING A CAPTIVE INSURANCE COMPANY IN BRITISH COLUMBIA. The purpose of this bulletin is to provide captive insurance applicants with:

REGISTERING A CAPTIVE INSURANCE COMPANY IN BRITISH COLUMBIA. The purpose of this bulletin is to provide captive insurance applicants with: INFORMATION BULLETIN BULLETIN NUMBER: TITLE: LEGISLATION: INS-06-002 REGISTERING A CAPTIVE INSURANCE COMPANY IN BRITISH COLUMBIA INSURANCE (CAPTIVE COMPANY) ACT, INSURANCE (CAPTIVE COMPANY) ACT REGULATION,

More information

CHBA Briefing Note on Liability in the Residential Building Industry

CHBA Briefing Note on Liability in the Residential Building Industry CHBA Briefing Note on Liability in the Residential Building Industry Introduction Objectives The objective of this report is to present some recent developments in Canada on the topic of liability in the

More information

insurance matters professional liability insurance for in-house corporate counsel

insurance matters professional liability insurance for in-house corporate counsel insurance matters professional liability insurance for in-house corporate counsel LAWPRO logo and name are registered trademarks of Lawyers Professional Indemnity Company. contents Your exposure to claims:

More information

Avant welcomes the opportunity to provide input into the Productivity Commission s draft report on Access to Justice Arrangements.

Avant welcomes the opportunity to provide input into the Productivity Commission s draft report on Access to Justice Arrangements. 21 May 2014 Access to Justice Productivity Commission GPO Box 1428 Canberra City ACT 2601 Access to Justice Arrangements Draft Report Avant welcomes the opportunity to provide input into the Productivity

More information

COMPARISON OF THE NHS LITIGATION AUTHORITY AND THE COMMERCIAL INSURANCE MARKET: BRIEFING PAPER

COMPARISON OF THE NHS LITIGATION AUTHORITY AND THE COMMERCIAL INSURANCE MARKET: BRIEFING PAPER COMPARISON OF THE NHS LITIGATION AUTHORITY AND THE COMMERCIAL INSURANCE MARKET: BRIEFING PAPER ff Introduction... 3 ff Key differences between CNST and commercial insurance... 5 ff Factors for consideration...

More information

Steve Mason, Legal Services and Governance Lead. Ratified and Approved CCG Governing Body on 10 October 2013 by:

Steve Mason, Legal Services and Governance Lead. Ratified and Approved CCG Governing Body on 10 October 2013 by: Title: Claims Management Policy Reference No: Owner: Author: Steve Mason, Legal Services and Governance Lead First Issued On: Latest Issue Date: Operational Date: Review Date: Consultation Date: Policy

More information

in the Northern Territory

in the Northern Territory 23 JUNE 2011 WORKERS COMPENSATION BEST PRACTICE GUIDELINES for APPROVED INSURERS and SELF INSURERS in the Northern Territory Workers Compensation NT WorkSafe is the administrative arm of the Work Health

More information

VERY IMPORTANT PLEASE READ LEGAL PROTECTION FOR PARAMEDICS

VERY IMPORTANT PLEASE READ LEGAL PROTECTION FOR PARAMEDICS VERY IMPORTANT PLEASE READ LEGAL PROTECTION FOR PARAMEDICS Dear Member: Beginning in March 2014, the Professional Paramedic Association of Ottawa will begin providing Legal Protection to all of our paramedic

More information

Professional Indemnity Select

Professional Indemnity Select Allianz Insurance plc Professional Indemnity Select Cover Overview Professional Indemnity Select Cover Overview Contents Thank you for choosing Allianz Insurance plc. We are one of the largest general

More information

Professional Indemnity Select

Professional Indemnity Select Allianz Insurance plc Professional Indemnity Select Policy Overview Policy Overview Professional Indemnity Select Contents Thank you for choosing Allianz Insurance plc. We are one of the largest general

More information

IN THE SUPREME COURT OF BRITISH COLUMBIA THE LSBC CAPTIVE INSURANCE COMPANY PLAINTIFF NOTICE OF CIVIL CLAIM

IN THE SUPREME COURT OF BRITISH COLUMBIA THE LSBC CAPTIVE INSURANCE COMPANY PLAINTIFF NOTICE OF CIVIL CLAIM Form 1 (Rule 3-1(1)) No. Vancouver Registry IN THE SUPREME COURT OF BRITISH COLUMBIA BETWEEN AND THE LSBC CAPTIVE INSURANCE COMPANY PLAINTIFF DEFENDANT NOTICE OF CIVIL CLAIM This action has been started

More information

Managing Cyber Security as a Business Risk: Cyber Insurance in the Digital Age

Managing Cyber Security as a Business Risk: Cyber Insurance in the Digital Age Managing Cyber Security as a Business Risk: Cyber Insurance in the Digital Age Sponsored by Experian Data Breach Resolution Independently conducted by Ponemon Institute LLC Publication Date: August 2013

More information

Specialty Risk Protector

Specialty Risk Protector Specialty Professional Liability and Data and Network Security Insurance is a single policy that makes it easy for companies to secure the multi-faceted E&O protection our networked world requires. A simplified,

More information

Excess Directors and Officers Liability. Policy document

Excess Directors and Officers Liability. Policy document Excess Directors and Officers Liability Policy document Contents A warm welcome to Zurich 3 Your Excess Directors and Officers Liability policy 4 Section 1 Agreement with underlying policies 7 Section

More information

Complete Professional Indemnity

Complete Professional Indemnity Allianz Insurance plc plc Complete Professional Indemnity Policy Details (including Policy Summary pages 1 4) Insurance Brokers Policy Summary This is a Policy Summary only and does not contain full terms

More information

Architects Insuring Architects. The Ontario Architects Professional Liability Insurance Program

Architects Insuring Architects. The Ontario Architects Professional Liability Insurance Program Architects Insuring Architects The Ontario Architects Professional Liability Insurance Program Contents Background...1 Mandatory Professional Liability Insurance...2 Professional Liability Insurance: General

More information

Guidance Note: Corporate Governance - Board of Directors. March 2015. Ce document est aussi disponible en français.

Guidance Note: Corporate Governance - Board of Directors. March 2015. Ce document est aussi disponible en français. Guidance Note: Corporate Governance - Board of Directors March 2015 Ce document est aussi disponible en français. Applicability The Guidance Note: Corporate Governance - Board of Directors (the Guidance

More information

Frequently asked questions about mandatory professional liability insurance. Q1: Why are all CPAs required to have professional liability insurance?

Frequently asked questions about mandatory professional liability insurance. Q1: Why are all CPAs required to have professional liability insurance? Notice These frequently asked questions were prepared for information purposes only and were up to date on January 21, 2013. However, their content is subject to change until the plan is implemented on

More information

Insurance For Engineers - Recent Events

Insurance For Engineers - Recent Events Insurance and Liability for the Engineering Profession The Institution of Engineers, Australia Submission to the Senate Economics References Committee Inquiry into Public Liability and Professional Indemnity

More information

Protecting Your Credit Union

Protecting Your Credit Union Protecting Your Credit Union A More Strategic Approach 2013 As a credit union, you are strategic in everything you do. Shouldn t your approach to risk/insurance be the same? Why do you buy directors and

More information

Real Estate Council of Alberta. An introduction 1

Real Estate Council of Alberta. An introduction 1 Real Estate Council of Alberta An introduction 1 2 Real Estate Council of Alberta - An introduction Welcome At the heart of Alberta s real estate industry is an organization where people work cooperatively

More information

APPLICATION FOR EMPLOYED LAWYERS PROFESSIONAL LIABILITY INSURANCE

APPLICATION FOR EMPLOYED LAWYERS PROFESSIONAL LIABILITY INSURANCE Executive Risk Management Associates 82 Hopmeadow Street Simsbury, Connecticut 06070-7683 APPLICATION FOR EMPLOYED LAWYERS PROFESSIONAL LIABILITY INSURANCE THIS APPLICATION IS FOR CLAIMS MADE AND REPORTED

More information

WORKERS COMPENSATION CLAIMS ADMINISTRATION GUIDELINES (ADDENDUM A) AND WORKERS COMPENSATION CLAIMS AUDIT PHILOSOPHY AND EXPECTATIONS

WORKERS COMPENSATION CLAIMS ADMINISTRATION GUIDELINES (ADDENDUM A) AND WORKERS COMPENSATION CLAIMS AUDIT PHILOSOPHY AND EXPECTATIONS Adopted: August 22, 2013 WORKERS COMPENSATION CLAIMS ADMINISTRATION GUIDELINES (ADDENDUM A) AND WORKERS COMPENSATION CLAIMS AUDIT PHILOSOPHY AND EXPECTATIONS Purpose WORKERS COMPENSATION CLAIMS ADMINISTRATION

More information

SASKATOON CRIMINAL DEFENCE LAWYERS ASSOCIATION. 2011 PROVINCIAL COURT COMMISSION for SASKATCHEWAN

SASKATOON CRIMINAL DEFENCE LAWYERS ASSOCIATION. 2011 PROVINCIAL COURT COMMISSION for SASKATCHEWAN SUBMISSION of the SASKATOON CRIMINAL DEFENCE LAWYERS ASSOCIATION TO THE 2011 PROVINCIAL COURT COMMISSION for SASKATCHEWAN November 15, 2011 Contact Information: Andrew Mason, Co-ordinator Saskatoon Criminal

More information

Introduction to Medical Malpractice Insurance

Introduction to Medical Malpractice Insurance William Gallagher Associates Introduction to Medical Malpractice Insurance What is Medical Malpractice Insurance? Insurance, in general, is the practice of sharing your risk with a large number of individuals

More information

NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) Submission to WorkCover Western Australia. Legislative Review 2013

NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) Submission to WorkCover Western Australia. Legislative Review 2013 NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) ABOUT NIBA Submission to WorkCover Western Australia Legislative Review 2013 February 2014 NIBA is the peak body of the insurance broking profession

More information

Zurich Public Sector Solution

Zurich Public Sector Solution Zurich Public Sector Solution Solutions for an Evolving Public Sector Managing risk for a Public Sector entity has taken on an unprecedented level of complexity. Consider for a moment the evolving risks

More information

Management Alta s team of professionals set us apart. Our associates are CPAs, attorneys, business, and insurance professionals with the most

Management Alta s team of professionals set us apart. Our associates are CPAs, attorneys, business, and insurance professionals with the most Management Alta s team of professionals set us apart. Our associates are CPAs, attorneys, business, and insurance professionals with the most extensive, sophisticated experience in the Captive industry.

More information

Choosing Your Malpractice Provider

Choosing Your Malpractice Provider Choosing Your Malpractice Provider R ISK MANAGEMENT HANDOUTS OF L AWYERS MUTUAL LAWYERS MUTUAL LIABILITY INSURANCE COMPANY OF NORTH CAROLINA 5020 Weston Parkway, Suite 200, Cary, North Carolina 27513 Post

More information

GUIDE TO COMPENSATION PLAN FOR PROPERTY AND CASUALTY INSURERS

GUIDE TO COMPENSATION PLAN FOR PROPERTY AND CASUALTY INSURERS GUIDE TO COMPENSATION PLAN FOR PROPERTY AND CASUALTY INSURERS May 2010 The compensation plan for property and casualty insurers (the "Plan") funded by property and casualty insurance companies resulted

More information

A guide to top-up or excess layer insurance:

A guide to top-up or excess layer insurance: A guide to top-up or excess layer insurance: March 2013 2013 The Law Society. All rights reserved. Contents Introduction... 3 Status of this guide... 3 Factors to consider in choosing an appropriate level

More information

Third Party Relationships

Third Party Relationships 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 A B D INTRODUCTION AND PURPOSE Background Yes/No Comments 1. Does the credit union maintain a list of the third party

More information

Risk Financing - Considerations Before Purchasing

Risk Financing - Considerations Before Purchasing Appendix B Risk Financing Considerations and Alternatives Appendix B Risk Financing Considerations and Alternatives A crucial part of managing a public entity s risks is deciding how to finance those

More information

Job Description. Pay band 6

Job Description. Pay band 6 Job Description Job title Pay band 6 Reports to eam leader Location Holborn, London WC1 or Harrogate Job summary Promoting the highest possible standards of patient care, and employee and public safety,

More information

Protecting Your Credit Union

Protecting Your Credit Union Protecting Your Credit Union A More Strategic Approach Fall 2011 As a credit union, you are strategic in everything you do. Shouldn t your approach to risk/insurance be the same? Why do you buy directors

More information

261 Gerrard St. East Toronto, ON M5A 2G1 P: 416-599-0770 F: 416-599-3982. Professional Liability Insurance for Personal Support Workers!

261 Gerrard St. East Toronto, ON M5A 2G1 P: 416-599-0770 F: 416-599-3982. Professional Liability Insurance for Personal Support Workers! 261 Gerrard St. East Toronto, ON M5A 2G1 P: 416-599-0770 F: 416-599-3982 September 17, 2015 Professional Liability Insurance for Personal Support Workers! Dear Sister/Brother, This year we have partnered

More information

In an ever changing business and social environment it has become increasingly

In an ever changing business and social environment it has become increasingly DIRECTORS AND OFFICERS INSURANCE ISSUES By: National Business Institute June 20, 2008 Howard L. Lieber FISHER KANARIS, P.C. 200 South Wacker Drive 22nd Floor Chicago, Illinois 60606 312/474-1400 In an

More information

Office of the Children s Lawyer

Office of the Children s Lawyer Chapter 4 Section 4.10 Ministry of the Attorney General Office of the Children s Lawyer Follow-up to VFM Section 3.10, 2011 Annual Report Background The Office of the Children s Lawyer (Office), which

More information

JOHN HOLLANDER & HAROLD GELLER

JOHN HOLLANDER & HAROLD GELLER JOHN HOLLANDER & HAROLD GELLER Doucet McBride LLP 100-85 Plymouth Street Ottawa, ON K1S 3E2 (613)233-4474 A better way to resolve investment disputes All agree that investors with complaints against their

More information

T R U S T E E S L I A B I L I T Y

T R U S T E E S L I A B I L I T Y TRUSTEES LIABILITY PROTECT YOUR ASSETS AND YOUR HOME TRUSTEES' EXPOSURE There are many types of non-charitable trust heritage, family, trading, Maori, rest homes, hospitals, education services and the

More information

A GUIDE TO PURCHASING LAWYER S PROFESSIONAL LIABILITY INSURANCE IN VIRGINIA

A GUIDE TO PURCHASING LAWYER S PROFESSIONAL LIABILITY INSURANCE IN VIRGINIA A GUIDE TO PURCHASING LAWYER S PROFESSIONAL LIABILITY INSURANCE IN VIRGINIA Presented By The Virginia State Bar's Special Committee on Lawyer Malpractice Insurance May 2008 The Need For Professional Liability

More information

Lion One Metals Ltd. Insider Trading Policy

Lion One Metals Ltd. Insider Trading Policy Lion One Metals Ltd. Insider Trading Policy 1.0 Introduction The Board of Directors of Lion One Metals Ltd. ( Lion One ) 1 has determined that Lion One should formalize its policy on securities trading

More information

ASSOCIATION OF PERSONAL INJURY LAWYERS SCOTLAND Standard of competence for Litigators

ASSOCIATION OF PERSONAL INJURY LAWYERS SCOTLAND Standard of competence for Litigators ASSOCIATION OF PERSONAL INJURY LAWYERS SCOTLAND Standard of competence for Litigators INTRODUCTION Standards of occupational competence Standards of occupational competence are widely used in many fields

More information

Management liability - Employment practices liability Policy wording

Management liability - Employment practices liability Policy wording Special definitions for this section Benefits Claim Defence costs The General terms and conditions and the following terms and conditions all apply to this section. Any compensation awarded to an employee

More information

When does an Insurer or Reinsurer Need to be Licensed in Canada?

When does an Insurer or Reinsurer Need to be Licensed in Canada? Association of Insurance Compliance Professionals Doing Business Internationally 2013 Conference October 6-9, 2013 Robert McDowell When does an Insurer or Reinsurer Need to be Licensed in Canada? Foreign

More information

IMF (Australia) Ltd. Combined Financial Services Guide and Product Disclosure Statement

IMF (Australia) Ltd. Combined Financial Services Guide and Product Disclosure Statement IMF (Australia) Ltd Combined Financial Services Guide and Product Disclosure Statement Dated the 18th day of January 2010 FINANCIAL SERVICES GUIDE & PRODUCT DISCLOSURE STATEMENT PAGE 2 1. Introduction

More information