Lawcovernotes December 2016

Practices with poor loss ratios and high frequency of claims generally show significant improvement following a PAS visit. We urge solicitors who are offered this service to take up this valuable opportunity. Risk Briefings, Regional Roadshows and other programs Two hour Risk Briefings are available to address areas of practice that give rise to significant numbers of claims, such as conveyancing, family law, litigation, mortgages and leases. In Sydney, Lawcover provides an annual One Day Claims Prevention Program which is always filled to capacity, with similar programs offered throughout the year in regional areas. Our programs satisfy MCLE requirements at very low cost and enable reduced premiums through risk management discounts. Premium discounts for participating practices Discounts of up to 12.5% apply for participation in approved claims prevention programs, to reward law practices that commit to minimising risk. The discounts apply for one policy year with option of maintaining the discount in future years. Lawcover is a part of the legal profession and operates within a framework which we believe is in the best interests of the legal profession and consumers of legal services. Lawcover’s commitment to the legal profession By working with the profession and focusing on good legal practice we have together achieved success in addressing risk factors leading to reduced claims frequency and severity, which has in turn allowed reduced premiums and policyholder rebates. For further information please visit our website at lawcover.com.au Simone Herbert-Lowe Senior Claims Solicitor 1. Lawcover has recently issued a Policyholder Rebate ($15 million) for 2016 to eligible insured law practices. This follows an earlier Policyholder Rebate ($23 million) issued in 2014. The Policyholder Rebates have arisen from better than anticipated claims trends over recent years and improved company performance. 7.