Cover Pages: A guide to insurance for private practitioners

As a lawyer in private practice, you face risks. And because potential risks can turn into unpleasant realities, effective risk management begins with understanding what’s covered under the compulsory Policy — and what’s not. By appreciating your exposure to uncovered risks, you can either avoid them entirely or buy other insurance that will respond if you do get tripped up. “Cover Pages” gives you the information you need to get started.

Read the full article, or find the specific insurance information you want below.

A few cautions before you begin
The following is intended only as a guide to assist lawyers. The actual wording of any policy, including terms, conditions, exclusions, limits and deductibles, governs and applies to any claim or potential claim. In terms of excess and other commercial insurance, you will want to talk to one or more brokers for more information and to determine what is best for your firm.

Risks and insurance for the private practitioner

Overview chart icon

 

Here's an overview of the risks in practice and the insurance available through the compulsory or commercial policies. For a closer look at any of the insurance policies please see the chart below.

 

 

 

closer view table icon

 

Here's a closer look at the insurance available through the Law Society and on the commercial market.

Part A Professional Liability (for negligence)

Part A summary table icon

 

Here's a summary of Part A's coverage for different claims and activities. If a claim or activity is covered, Part A pays compensatory damages awarded against you, including interest, or funds a settlement or a repair.

For details of the coverage summarized below, go to our web resource, My Insurance Policy: Questions and Answers.

Additional LIF web resources

The Insurance Program and Coverage sections include information about the Policy, coverage and your duties as an insured (see My Insurance Policy: Questions & Answers), optional Business Innocent Insurance Coverage (BIIC) and commercial liability insurance, including a list of excess and other commercial insurance brokers. The Fraud Prevention section includes risk management tips for social engineering and other fraud risks.

 

Last updated: November 2017