Lawcovernotes December 2018

Once again, the year ends much more quickly than expected and a promising new year is upon us. On behalf of the entire Lawcover team, I extend our best wishes to all principals, solicitors and staff of our insured law practices. That also extends to our numerous stakeholders who support Lawcover in achieving its aims and objectives. 2018 Annual Review In October we published the Lawcover 2018 Annual Review. This year’s edition not only focused on our strong financial performance and results, but provided more information about our business operations and performance metrics in customer satisfaction. The company’s very strong results on both counts are a testament to the commitment of the Board, management and all staff to work efficiently and effectively on behalf of the legal profession. The entire Lawcover team continues to focus on delivering absolute value given that professional indemnity insurance is a necessity, rather than a choice for law practices. We measure our performance by conducting regular customer feedback surveys on key areas of service. I invite all of our insured lawyers to read about the work we undertake on your behalf. If you did not receive the email providing a link to the 2018 Annual Review, you may wish to access a copy by clicking the link below. This will provide you with a PDF version. If you would like to receive a hardcopy of the Annual Review, please send an email to lawcover@lawcover.com.au with your request, details and your preferred mailing address. Cyber risk 2018 has certainly been a year that cyber-attacks against law practices have been in the headlines. As most of you are aware, we introduced a group cyber risk insurance policy effective 1 January 2018 which provides foundational cyber risk cover to all insured law practices at no cost and with no additional forms to complete. There has been a steady stream of claims on this policy throughout the year by law practices seeking urgent assistance after a cyber attack. Both the group cyber policy and the professional indemnity insurance policies have provided the necessary assurance and protection to those law practices in need. Fraudsters continue to find innovative and creative ways to exploit computer systems and particularly target email vulnerabilities. In this issue we again provide our ‘Be Aware and Prepared’ cyber tips to avoid email related cyber fraud. Net Promoter Score © Over the last three months we have invited principals of law practices to participate in our second Net Promoter Score survey. I would like to thank all those who have taken the time to respond. The survey was last conducted in 2016, and we received a creditable +32 score, which demonstrated a high level of customer satisfaction in Lawcover’s services. As the 2018 survey draws to a close, we are on track to exceed that rating and I look forward to providing more information in our next edition of Lawcovernotes. 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@lawcover.com.au | lawcover.com.au Lawcover Pty Ltd | ABN 48 003 326 618 Lawcover Insurance Pty Ltd | ABN 15 095 082 509 Welcome to our December 2018 edition of Lawcover notes . December 2018 edition 17 Click here to view Lawcover’s Annual Review 2018 #5909-AnnualReviewConcept_V3.indd 1 11/10/18 11:16pm #5909-AnnualReviewConcept_V3.indd 1 11/10/18 11:16 pm #5909-AnnualReviewConcept_V3.indd 1 11/10/18 11:16 pm PDF VERSION

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