Premium Discounts
Initial Eligibility
| Discount | 7.5% |
|---|---|
| Conditions | All principals of a law practice must complete 3 Principals Workshops before 31 March in the year of renewal. |
| Discount | 10% |
|---|---|
| Conditions | All principals of a law practice must complete all 5 Principals Workshops before 31 March in the year of 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 a premium discount by completing the workshops above, it can maintain its eligibility in future policy years provided all principals successfully complete one of the Maintenance Events before 31 March in the year of renewal.
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 required Risk Management Workshops or Maintenance Events before 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 before 31 March in the year of the renewal, the law practice will lose its premium discount. Principals who failed to complete the required Maintenance Event should contact Lawcover. Where a law practice fails to complete 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. |
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New Principals
Employment or promotion of a new principal in a law practice 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 relevant Principals Workshops within 12 months of becoming a principal.
If the new principal has successfully completed the relevant Principals Workshops (while they were working at another law practice for example), they will not be required to attend the Principals Workshops again, however they will be subject to the usual requirements for ongoing eligibility (successfully completing 1 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.