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Excess insurance exposure test

Test your exposure by checking each statement that is true for you or your firm:

I am unsure of the file practices, procedures and communication steps (e.g., in-take procedures, documentation of retainers, review of opinion letters, use of docket controls and diary systems, completeness and retention of file documentation, etc.) of others for whom I may be responsible (like other firm lawyers, co-tenants, associated law practices, co-counsel, back-up or predecessor counsel, that I have worked with).

I am unsure that the letterhead, office signage, reception and telephone, website, blog, advertisement and promotional materials, as well as retainers and billing arrangements of my practice and others affiliated with me, consistently and clearly communicate the nature of the relationship of my practice to others.

I regularly or sometimes practice litigation, real estate, corporate, commercial, tax, securities or patents and trademarks law.

My past and/or present partners, associates, employees or others for whom I may be held responsible, practice in these areas.

When I or members of my firm have become involved in claims-prone areas of practice, the work has been focused in the hands of a few with the right expertise, or with others under the appropriate supervision or guidance.

Our firm maintains large trust accounts or trust accounts with a lot of activity.

Our firm regularly or sometimes handles major financial transactions or represents clients where the stakes are high, such as class action suits, pensions, securities, tax or patents and trademarks.

We have clients whose wealth has grown substantially since we did work for them.

My colleagues and I rely on the same research or legal opinions (general or specific in nature), when we provide opinions to different clients.

I do not know what excess insurance my former firm(s) carries or is covered under, or whether I continue to be insured under it, and have no assurance that excess insurance will be maintained or if the firm will advise me if it is not.


Understanding your score

7-10 points: Your exposure to claims that may exceed your primary coverage is very likely significant.

1-6 points: You have potential exposure to large or frequent claims. A careful assessment of your and your firm’s practice is appropriate. Call 1-800-410-1013 to get a more detailed assessment by one of our staff.

0 points: You are at a lower risk of having claims that will go beyond your primary limits. However, claims often arise from the least-expected quarters and Excess Insurance could provide you with that peace of mind that comes with knowing you have sufficient liability insurance coverage in place. It is good practice to revisit these questions regularly

Land Acknowledgement

The offices of LAWPRO are located on the traditional territory of many nations including the Mississaugas of the Credit, Anishnabeg, Chippewa, Haudenosaunee and Wendat peoples. Toronto is covered by Treaty 13 with the Mississaugas of the Credit. LAWPRO respects and acknowledges the histories, languages, knowledge systems, and cultures of First Nations, Metis, and Inuit nations.

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