Financial Hardship

1. What if I am experiencing financial hardship?

Lawcover can assist in offering our Financial Hardship Policy in providing support for your 2023/24 professional indemnity insurance premium (PII), prior to seeking renewal of annual practising certificates with the Law Society of NSW. Eligible applicants can also seek support in respect of a policy excess that may be owed to Lawcover, or an amount we are seeking to recover from a third party where we have paid a loss under an insurance policy.

If you are impacted, we invite you to contact the Insurance Services Team on 1800 650 748 to discuss your circumstances and receive our 2023/24 Financial Hardship Policy Application. Once completed email it to insuranceservices@lawcover.com.au – immediately after you have completed your annual online PII renewal application if your application relates to premium support.

When completing your online PII renewal application, please provide your best estimate only when declaring your gross fee income (GFI) for 2022/23 and your anticipated earnings for 2023/24. If you are unsure, please state as such and we will contact you to discuss your individual circumstances.

Upon receipt of your completed Financial Hardship Application and online PII renewal application we will contact you to discuss the options available.

2. Premium 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.