Premium Discounts
Initial Eligibility
Initially, for a law practice to become eligible for the 10% RMEP Premium Discount, all principals of that law practice must complete the 5 Principals Workshops by 31 March prior to renewal.
Principals Workshops
Workshop 1 | All about the Client
Workshop 2 | All about the Matter
Workshop 3 | All about the Communication
Workshop 4 | All about the Business
Workshop 5 | All about the Dollar
Ongoing Eligibility
After a law practice has become eligible for the 10% RMEP Premium Discount, it will remain eligible for the discount in future policy years provided all principals successfully complete one of the Maintenance Events by 31 March prior to renewal each year.
Maintenance Events
- Traps in Costs
- Traps in Sale and Purchase of Business
- Traps in Family Law
- Traps in Litigation
- Traps in Property: Conveyancing
- Traps in Property: Mortgages & Leases
- Traps in Wills & Estates
- Traps in Powers of Attorney
- Cyber Risks: The traps for law practices
- Recent Cases and Claims
- One Day Claims Prevention Seminar
- Regional and Suburban Claims Prevention Roadshows
Other RMEP Premium Discount Conditions
| Attendance by all Principals |
In order to obtain the RMEP discount, all principals must have successfully completed the 5 Principals Workshops by 31 March prior to renewal. To maintain the RMEP discount in subsequent years, all principals must each have completed at least one Maintenance Events by 31 March each year. Where a law practice satisfies the requirements for initial eligibility, but one or more of the principals fails to successfully complete at least 1 Maintenance Event by 31 March in a subsequent year, the law practice will lose its premium discount. Principals who have failed to complete the required Maintenance Event in time should contact Lawcover. Where a law practice fails to meet its ongoing eligibility requirements for 2 or more policy years, it will be required to comply with the initial eligibility requirements to again be eligible for the discount. |
|---|
New Principals
When a new principal is promoted or joins a law practice, this may affect the law practice’s ongoing discount eligibility.
For the law practice to retain its RMEP discount, all new principals are required to attend the 5 Principals Workshops within 12 months of becoming a principal.
If the new principal has previously completed the 5 Principals Workshops (while they were working at another law practice for example), they will not need to attend the Principals Workshops again, however they will be subject to the usual requirements for ongoing eligibility (successfully completing one Maintenance Event by 31 March each year).
Future Years
Lawcover reserves the right to review ongoing RMEP discounts which are subject to Lawcover’s discretion.
Lawcover’s premium discounts
In this 2 minute video, learn about the premium discounts available to you and how you may be eligible.
For more information about premiums, please click here
