Starting a new solo or multi-member firm
Whether you’re going solo or starting a new firm with other lawyers, you may find yourself at a loss when it comes to your professional indemnity insurance. How do you set things up? What are your options? This page is designed to get you up and running in no time.
Important dates to add to your calendar regarding real estate and civil litigation transaction levies, renewing your Policy, and the LAWPRO risk management credit filing deadline.
Addtional reading on insurance coverage and starting a firm:
- Excess insurance is optional and available to lawyers in private practice or on exemption. It provides an additional layer of insurance protection should your defence and indemnity payments exceed the limits of the primary LAWPRO insurance program. Excess insurance is available from LAWPRO and from other insurers in the commercial market.
- Does your firm need cyber coverage? A general liability insurance policy may offer only a limited amount of coverage for cyber-related exposures.
- Putting the insurance puzzle together: LAWPRO’s primary Errors & Omissions (E&O) program is a key piece of the insurance puzzle for any lawyer and law firm. But additional insurance coverage is often required to protect against the full constellation of risk faced by a law firm.
- For more resources on opening a new firm, you may want to visit the Law Society of Ontario Guide to Opening Your Law Practice.