|
About LAWPRO® Claims Management Significant Stats: Almost 8% of LPIC claims are caused by a failure to calendar Although it is one of the easiest errors to prevent, simply failing to keep a proper calendar is one of the most common causes of LPIC claims. In the last 12 years, 2,335 claims – 7.6 per cent of all claims reported – have been attributed to this error. Costs and indemnity payments to deal with these claims will total just over $38 million. As noted above, this error is very easy to prevent. Everyone should have proper tickler systems in place. You should identify time deadlines, follow-ups and reminders. Establish a system for checking the accuracy of information inputs. Keep a backup system as a safety net. Calendar every case, not just litigation matters. For a more detailed review of what you can do to prevent this error, and others like it, visit www.practicepro.ca and download the managing the lawyer/client relationship booklet. It will help you avoid making this mistake, and build a better relationship with your client. Please ensure that your clients sign the Acknowledgments, as recommended by the Joint Committee. If the Acknowledgment generated by the software does not cover any parties who would traditionally have signed the document, please consider alternate ways to evidence the party's consent. E-reg and LPIC's position on claims DEDUCTIBLESThe introduction of electronic registration across Ontario has raised numerous questions from lawyers on how LPIC will deal the payment of DEDUCTIBLES on claims arising out of escrow closings. In various presentations made recently, LPIC has confirmed the following position on lawyers' liability for DEDUCTIBLES on claims arising out of e-reg transactions.
Liability arising from the Document Registration Agreement (DRA)
LPIC 's position
To access the Document Registration Agreement, as approved by the OBA-LSUC Joint Committee on Electronic Registration of Title Documents on the LSUC website, click here.
Liability arising from compliance with law statements
LPIC 's position
LPIC therefore will waive any DEDUCTIBLE and claims history levy surcharge in situations where a negligence claim is brought against a lawyer who innocently relied on the compliance with law statement made by the lawyer representing the other party(ies).
Liability arising from e-reg signatures
LPIC 's position
LPIC believes the following two measures help to "bullet-proof" lawyers on this issue:
Please ensure that your clients sign the Acknowledgments, as recommended by the Joint Committee. If the Acknowledgment generated by the software does not cover any parties who would traditionally have signed the document, please consider alternate ways to evidence the party's consent. LPIC's legal fee payments Each year, LPIC provides an updated list of the legal fee payments made to the defence counsel law firms who billed the most to LPIC in the previous year. The attached chart is a composite that takes as its base, information on the legal fee payments made to the law firms who, in 1995, billed the most to LPIC; the chart tracks legal fee payments made to these firms through to 1998. It also provides additional information on the firms with which LPIC currently contracts to provide most of its legal work. Overall legal fee payments to defence counsel firms have decreased consistently over the last four years, reflecting LPIC's success in managing claim costs more effectively. The chart also indicates a realignment of the firms who do most of LPIC's legal work. As outlined in LPIC's annual report, LPIC insured are quite satisfied with the defence counsel process now in place. In a survey of 300 lawyers who had a claim with LPIC, 88 per cent indicated they are satisfied with the process of selecting defence counsel (all insureds play an active role in selecting the most appropriate counsel for a specific claims file); 93 per cent said their concerns were understood by LPIC examiner staff; and 92 per cent said they were satisfied with LPIC's service.
|
July 31, 2010
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
© 2010 Lawyers' Professional Indemnity Company (LAWPRO). All Rights Reserved. Privacy | Legal | Terms & Conditions | Refunds & Returns | Feedback |