Risk Management Credit
Would you like to hone your legal skills, learn new strategies and techniques, reduce your exposure to claims, and lower your insurance premiums? LAWPRO’s Risk Management Credit program makes all this possible.
Incorporating risk management strategies into your practice will help reduce claims.
To encourage participation in CPD programs that include risk management content, LAWPRO offers a $50 premium credit (to a maximum of $100) for each qualifying program completed by mid-September. The maximum $100 credit will be applied to next year’s insurance premium. The Risk Management Credit is applicable to standard coverage, and cannot be applied to Run-off or Excess policy premiums. It can only be claimed by lawyer insureds.
Promotional literature for qualifying programs will often carry the LAWPRO “seal of approval”. See the full list of programs that qualify for the credit.
Applying the credit to your premium
To obtain the Risk Management Credit, you must complete one or two qualifying programs, and complete an online Declaration by midnight on September 15. Any credit obtained for programs completed prior to this deadline will be applied to the next year’s insurance premium (it will automatically appear on your invoice).
You can claim the credit for participating in an approved CPD program via a live or archived webcast provided you watch the entire program and have a copy of the program materials.
Completing one Homewood Health e-Learning course through the Member Assistance Plan (www.myassistplan.com) also qualifies for one $50 premium credit. Insureds must complete a new e-Learning course each year they claim the credit.
You are also eligible for the Risk Management Credit if you chair or speak at a qualifying program provided you attend the entire program.
Requirements for designation as a qualifying program
To be designated as qualifying for the LAWPRO Risk Management Credit, CPD programs must be offered by not-for-profit providers and:
- provide a minimum of 60 minutes of education/instruction;
- have a significant intellectual or practical component, with the primary objective being to increase the participant’s professional competence as a lawyer and their ability to deliver quality legal services;
- address areas of law where there are claims and include content that specifically focuses on risk management and claims prevention;
- include detailed written materials;
- Include information that will help lawyers:
- appreciate the nature, cause and frequency of malpractice claims;
- understand and assess what can go wrong (i.e. what the risks are);
- determine which risks demand the most attention; and
- implement strategies to deal with and eliminate those risks.
Email your proposed agenda to [email protected] and we will review it and respond. Programs will be approved at LAWPRO’s discretion.