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E&O Insurance >Insurance Type >Mandatory Innocent Party Insurance

Innocent Party Insurance

Mandatory Innocent Party Coverage (associations, partnerships and LAW CORPORATIONS with more than one LAWYER)

 

Innocent Party Coverage protects members of the public - and thereby you - against the dishonest, fraudulent, criminal, or malicious acts or omissions of present or former partners, associates, employed LAWYERS and firm EMPLOYEE(S). The increased incidence of fraud-related claims also highlights the benefits of Innocent Party Coverage.

Eligibility

Minimum level Innocent Party coverage is required for all LAWYERS practising in association, partnership (including general, MULTI-DISCIPLINE AND/OR COMBINED LICENSEE PARTNERSHIPS and LLP partnerships) or a LAW CORPORATION (with more than one LAWYER).

Coverage

Coverage sublimit: $250,000 per claim/in the aggregate applicable to claim expenses, indemnity payments and/or costs of repairs. Note that one claim with substantial defence costs would quickly erode the amount of funds available for indemnity.

This $250,000 sublimit coverage is provided within the primary insurance program coverage limits, and not in addition to the $1 million/$2 million coverage in place under the mandatory insurance program.

Premium $250 per insured LAWYER per POLICY PERIOD
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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