Lawcovernotes August 2017

Renewnow, don’t regret later All Lawcover 2016/17 professional indemnity insurance (PII) policies expired on 30 June 2017 , including those which had a TopUp PII endorsement. Each year a small number of law practices fail to renew before the expiry of their policy. If your law practice is yet to renew its primary PII policy and you are currently practising law, you are doing so without insurance. As a consequence, you may be jeopardising your practising certificate. Sections 211 and 212 of the Legal Profession Uniform Law state that a legal practitioner or incorporated legal practice must not practise law without an approved insurance policy. The cost of practising without insurance is 100 penalty points. As well as jeopardising your practising certificate, you are potentially making your law practice vulnerable to claims if operating without insurance. Once your full premium is paid, even if it is after 30 June, primary PII coverage can continue from 1 July 2017. However, if you purchase Top Up insurance through Lawcover, backdating that cover is not possible. This could leave your practice exposed for awards and damages for claims in excess of $2m. Our Online Services facility makes insurance renewal quick and easy. When you renew online, we email your tax invoice and PII policy documents immediately after we receive payment. Check that your law practice has renewed and, if not, don’t delay! Visit our website at lawcover.com.au and renew today. If you need help logging in or require any further assistance, contact the Insurance Services team on 1800 650 748. Insurance Services Team 9.