Lawcovernotes March 2020

COVID-19 Pandemic The COVID-19 pandemic is creating uncertainty and challenge for many in the profession. In response to the rapidly changing pandemic situation, we have transitioned to remote working for all of our staff to ensure their health and safety, and implemented infrastructure to limit any impact on our service delivery. On page 2 of this edition you will find a ‘risk alert’ which provides some practical guidance on ways to avoid the risk of claims if your work practices have changed in response to the pandemic. On page 3 we outline how we will ensure lower premiums if a law practice’s forecast gross fee income is expected to be impacted by the pandemic. Lawcover is part of the profession and we are considering how we can use our financial position in a way that ameliorates the cost of insurance in the short-term, while ensuring our ability to support the profession in the long-term. The entire Lawcover teamwill continue to provide insured lawyers with the support and protection they expect through these challenging times. Insurance Renewal Law practices will soon be invited to renew their professional indemnity insurance policies with Lawcover, via our Online Services platform. For the first time this year, we are offering an optional purchase of a Lawyers Management Liability insurance, together with optional Top Up insurance. I am pleased to advise that we will continue with the group cyber risk policy for 2020/21, which is available to all insured law practices at no cost. For the majority of law practices, renewal will be a quick and seamless process, but in the event that you require any assistance, our Insurance Services team will be standing by to assist. OneDayClaims PreventionSeminar It is always a privilege and a pleasure to open Lawcover’s Annual One Day Claims Prevention Seminar, which was held in Sydney on 6th March. Once again, almost 300 legal professionals attended the seminar, which addressed current and emerging risks facing the profession. As always I wish to thank attendees and our expert presenters for making the seminar a successful and engaging event. NorthernTerritory Scheme I am delighted to welcome Northern Territory lawyers to Lawcover’s professional indemnity arrangements for 2020/21. As a result of discussions and negotiations over the course of 2019, Lawcover has entered into an arrangement with the Law Society Northern Territory to be the approved insurer for the NT PII Scheme for 2020/21. The entire Lawcover team is looking forward to providing our extensive range of professional indemnity services to our colleagues in the Northern Territory. 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 ourMarch 2020 edition of Lawcovernotes. March 2020 edition 21 PDF VERSION