Recent amendments to the Legal Profession Act have changed the ‘insurance program’ into an ‘indemnification program’ and clarified that where the Law Society or a non-captive subsidiary operates the program, they are not subject to the Financial Institutions Act or Insurance Act and their employees are not required to be licensed as adjusters. On January 1, 2020, Lawyers Insurance Fund became Lawyers Indemnity Fund, and we made hundreds of changes to nomenclature in the policy, documents and forms, on the website, and in the Rules and BC Code. Rest assured that LIF will continue to handle claims, take calls, deal with firms and covered lawyers, and reply to advance rulings and email inquiries, just as it always has.
 

The Lawyers Indemnity Fund manages the Law Society’s indemnification program for BC lawyers.

We are 13 lawyers, a paralegal and 6 administrative assistants, dedicated to maintaining the program’s exemplary standards and achieving exceptional results for our indemnified lawyers. The majority of our work involves claims-handling in relation to the negligence claims and potential claims lawyers report under the compulsory professional liability indemnification policy. Ten of our lawyers act as Claims Counsel, investigating and managing claims, in relation to the 1,000 or so reports we receive each year. 

Coverage and underwriting

We evaluate the risk of paying claims under the policy on behalf of the lawyers we indemnify. Through accurate and comprehensive claim file statistics and payment information, we monitor trends and specific risks. We keep a close eye on legal and other developments that may create new liability exposure for lawyers. We give lots of information about the scope and limits of our indemnification coverage, so lawyers understand how coverage operates and when they may need to buy additional coverage on the private market.

Risk management and negligence claims

Coverage for negligence is provided under Part A of the compulsory professional liability indemnification policy. We help lawyers protect themselves from the risk of a negligence claim.  With our unique position as the sole primary indemnitor for all lawyers in the province, we have detailed information relating to every matter reported since 1986.  That data, as well as our ongoing monitoring and analysis of specific risks, allows us to publish and speak to lawyers on how to practice safely.

Indemnification for lawyer theft

Coverage for lawyer dishonest appropriation is provided under Part B of the compulsory professional liability indemnification policy. As the Law Society uses its own captive insurance company to underwrite the risk and pay claims, the Lawyers Indemnity Fund has full control over claims and coverage. This ensures that we are able to implement initiatives designed to respond to the needs of BC lawyers, as directed by the Benchers.

Fraud prevention

Limited coverage for fraud is provided under Part C of the compulsory professional liability indemnification policy. Fraud prevention services help lawyers to protect themselves from becoming the tool or victim of a fraudster. We know risks to lawyers include: a real estate or promoter fraudster enagaging a lawyer to facilitate their scheme, or lawyers' trust accounts being targeted by fraudsters using a 'bad cheque' scam or social engineering fraud. We alert the profession to new frauds we discover, and offer a wealth of tips to help lawyers manage the risk.

Mission Statement

The Lawyers Indemnity Fund protects the profession and the public from the risks associated with the practice of law by providing high quality liability indemnity coverage for lawyers.

We draw on our extensive legal and coverage knowledge, skill, and experience in providing claims management, risk management, and underwriting services.

Our professional services have been recognized as a best practice model for lawyers liability insurance and indemnity programs worldwide.