All legal practitioners practising as principals of a law practice (unsupervised) in New South Wales are required to hold or be covered by Professional Indemnity Insurance (PII) pursuant to section 45 of the Legal Profession Uniform Law (NSW). Insurable solicitors in the Australian Capital Territory are required to hold an approved professional indemnity policy under section 311 of the Legal Profession Act 2006 (ACT). Law practices in the Northern Territory are required to hold an approved professional indemnity policy under s376 of the Legal Profession Act (NT) 2006.
Lawcover provides approved professional indemnity insurance policies to law practices in NSW, the ACT and NT. For 2020/21, the Lawcover PII policy provides law practices with cover up to $2 million each claim, including claimant’s costs & defence costs. Lawcover also provides Top Up insurance, over and above the required primary $2 million limit, to many law practices in NSW and nationally.