Financial Hardship

Lawcover is able to support law practices in financial difficulty by offering our Financial Hardship Policy.

1. What if I am experiencing financial hardship?

Lawcover can assist in offering our Financial Hardship Policy in providing support for your 2024/25 professional indemnity insurance(PII) premium, prior to seeking renewal of annual practising certificates with the Law Society of NSW, ACT Law Society or the Law Society NT.

Eligible applicants can also seek support in respect of a policy excess that may be owed to Lawcover, or an amount we are seeking to recover from a third party where we have paid a loss under an insurance policy.

If you are impacted, we invite you to contact the Insurance Services team on 1800 650 748 to discuss your circumstances and receive our 2024/25 Financial Hardship Policy Application. Once completed email it to insuranceservices@lawcover.com.au – immediately after you have completed your annual online PII renewal application if your application relates to premium support.

When completing your online PII renewal application, please provide your best estimate only when declaring your gross fee income (GFI) for 2023/24 and your anticipated earnings for 2024/25. If you are unsure, please state as such and we will contact you to discuss your individual circumstances.

Upon receipt of your completed Financial Hardship Application and online PII renewal application we will contact you to discuss the options available.

2. Premium payment options

While we continue to offer the payment options of credit card, BPay or cheque, we recommend that you consider using one of the three premium funders available through our online renewal platform, or any other funder of your choice. This will help you to manage your cashflow by making premium payments by instalments.