Fraud in real estate transactions is a growing area of concern. The following examples show how two of the more common types of fraud- identity fraud and value fraud- may occur. We have also provided you with some red flag indicators and some loss prevention tips to assist you in avoiding a potential insurance claim....

We are pleased to announce that a loss prevention initiative, a Risk Assessment Visit, is now available to members. The purpose of the Risk Assessment Visit is to offer firms, especially solo and small firms (2-5 members) a free, confidential service to assist in identifying areas of risk that have potential to result in claims...

LOSS PREVENTION TIP 10 Tips for Safe Pro Bono Access to justice is an ongoing problem across Canada and the call is out for lawyers to contribute to the solution. The Canadian Bar Association’s Task Force on Access to Justice issued a final report, Envisioning Equal Justice. The Task Force set targets to bridge the...

Loss Prevention Tip Identifying Fraudulent Scams Lawyers in all areas of practice continue to be the targets of bad cheque scams. Fraudsters retain the firm on a contrived legal matter so that they can run a counterfeit cheque or bank draft through the firm’s trust account and walk away with real money. Don’t be complacent...

We are pleased to announce that a new loss prevention initiative, a Risk Assessment Visit, is now available to members. The purpose of the Risk Assessment Visit is to offer firms, especially solo and small firms (2-5 members) a free, confidential service to assist in identifying areas of risk that have potential to result in...

Dear Practising Insured Members: Please be advised that your 2016-2017 Professional Liability Insurance Policy is available upon sending a request to: Janice Ringrose Lawyers’ Insurance Programme insurance@lawsociety.nf.ca

Loss Prevention Tip Email Management Email has become the preferred way lawyers and clients communicate – but are you documenting these communications properly? Here are some common mishaps to avoid: Not saving your email in your document management system or on your server. This is important not only from a document management perspective but also...

Re: Excess Insurance Options As you know, practising lawyers in Newfoundland and Labrador have mandatory insurance coverage of $1 million. Recent claims experience demonstrates that $1 million in insurance coverage is no longer sufficient, especially when the mandatory limit not only includes damages but also defence costs. Costs to defend claims are ever-increasing. Lawyers and...

Report all Insurance Claims before June 30, 2016 The Law Society Member’s insurance policy is a “claims-made” policy. Accordingly, the focus is on when the claim is made and reported, not on the year in which services are provided and the alleged error is said to have occurred. For example, if a claim is made...

Did you know that your Lawyers’ Professional Liability Insurance Group Policy with the Canadian Lawyers Insurance Association (CLIA) has what is generally referred to as a “cyber coverage” exclusion. Condition 3.9.1 of your Insurance Policy excludes “claims arising out of or from damage to or loss of use of tangible or intangible property, loss of...