Lawcovernotes March 2018

One Day Claims Prevention Seminar It was both a privilege and a pleasure to open the 11th annual One Day Claims Prevention Seminar this month, which was held at Rydges World Square in Sydney. Over 300 lawyers enjoyed a day discussing current and emerging risks and trends arising in legal practice, with engaging speakers and often entertaining subject matter. The content covered a range of topics including; recent Lawcover claims and outcomes, risks and issues in bankruptcy and insolvency, mental health for lawyers, the emerging menace of cyber risk and dealing with elderly clients and the increasing incidence of elder abuse. Feedback from attendees was overwhelmingly positive and the seminar certainly sits as our flagship event each year. However it is only one of a wide range of risk management and claims prevention activities delivered by Lawcover’s Practice Support Services team. Please visit our Risk Management Education Program and view the activities available to you. We have compelling evidence that this program reduces both frequency and severity of claims and as a consequence regular participation attracts discounts on your annual insurance premium. Your Cyber Insurance Policy The increasing incidence of cyber related issues in legal practice is serious, not only in the impact such an event can have on your law practice and you personally, but also the effect such an event can have on your clients. Lawcover takes this risk seriously and as advised in various communications, we have decided to address it by purchasing a group Cyber Risk insurance policy for all insured law practices. This provides foundational cover of up to $50,000 for urgent assistance to manage your practice in the wake of a cyber event. Full details can be found here Lawcover cyber risk insurance . While you are there, you might like to take the Lawcover Cyber Risk Assessment to assess your cyber risk awareness and preparedness. 2018 Professional Indemnity Insurance Renewal Your law practice’s nominated contact(s) will shortly receive details of how to renew your insurance for 2018/19. The earlier you start the process, the earlier your practising certificates can be issued by the Law Society. Our dedicated insurance services team will be at the ready to make your renewal as effortless and seamless as possible. Sustainability and affordability of your professional indemnity insurance is a key focus for the Lawcover team each year. For the fourth year, the majority of law practices will see stability in their primary insurance premiums. The continued stability in claims frequency and severity, despite an increasing number of lawyers each year, is testament to the skill and attention with which legal services are delivered. Lawcover is committed to working with the profession in providing timely, useful and practical risk management and claims prevention strategies to maintain these positive trends. Michael Halliday Chief Executive Officer Lvl 13, 383 Kent St, Sydney NSW 2000 Australia DX 13013 Sydney Market Street Telephone (02) 9264 8855 | Facsimile (02) 9264 8844 | Lawcover Pty Ltd | ABN 48 003 326 618 Lawcover Insurance Pty Ltd | ABN 15 095 082 509 Welcome to our March 2018 edition of Lawcover notes . March 2018 edition 15 PDF VERSION