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The COVID-19 pandemic is creating serious financial challenges for many in the profession and Lawcover is here to help.
We are doing this in a number of ways:

1. Lower premiums if your Gross Fee Income (GFI) is impacted

We understand that your GFI over the next few months is very uncertain and many of you may face cashflow issues right now.
Your premium will reflect your expected level of activity in the coming year. Simply enter your best estimate of anticipated 2019/20 and 2020/21 GFI when completing the application for your 2020/21 professional indemnity insurance (PII) renewal. If your estimate indicates a substantial decline in GFI for 2020/21, your premium will be reduced accordingly.

A reasonable estimate is all that is required and, in this uncertain environment, we would encourage you to be conservative. In twelve months’ time, when you have a much clearer picture of the actual impact of the crisis on your business, we’ll perform a reconciliation as part of your 2021 renewal. Any changes between your estimate and your actual GFI will be addressed at that time, effectively deferring a part of your premium for one year and reducing pressure on your practice.

2. Premium moderation

As part of the legal profession, Lawcover has consistently maintained a strong capital position to ensure we are able to support the profession in times of need. Therefore, a key priority has been to consider how we use our financial strength in a way that supports you, and your business, in the short-term, without compromising our ability to continue that support in the long-term. Due to the economic conditions arising from the pandemic, Lawcover has allocated a substantial portion of capital to keep premiums lower than might otherwise be the case.

3. Payment options

While we continue to offer our normal range of payment options, we urge you to consider using one of the three premium funders available via our online renewal platform, or any other funder of your choice. This will help you manage your cashflow by making premium payments in instalments. Your premium will still be based on the GFI you submit as outlined above.

4. Cyber risk

Lawcover has renewed the cyber cover for all insured law practices at no cost to you. Remote working for business potentially heightens the risk of a cyber intrusion/attack. The Lawcover group cyber policy provides foundational cover up to $50,000 each claim. Details are here.

5. Financial hardship

If you consider that none of these premium options will adequately address genuine financial hardship, please email us at and we will contact you to discuss your particular situation in confidence.

Lawcover is part of the profession, so you can be assured that we will do whatever is possible to support you.