Lawcover is the single provider of approved professional indemnity insurance policies to law practices based solely in NSW. It also insures law practices in the ACT and many national law firms which have a presence in NSW. With almost 19,000 lawyers insured, Lawcover has and will always be there when needed. We provide professional indemnity insurance up to $2 million for each claim and, on application, can provide additional Top Up insurance up to $20 million.
Lawcover holds a unique position as Australia’s only ‘profession-owned’, licensed and APRA regulated insurer of the legal profession. We are a wholly owned but independent subsidiary of The Law Society of New South Wales.
We provide more than just professional indemnity insurance. Through risk management and claims prevention education, we assist underperforming and risk-prone law practices address the underlying issues through our proven practice advisory visits.
Lawcover’s focus is protecting and supporting the professional indemnity needs of our insured law practices and the lawyers who practise within them. The profession is represented by lawyers on our Board, in senior management and in the professional services we offer.
Lawcover’s professional indemnity service is delivered by our Professional Services teams. Professional Services is made up of four inter-related areas:
Claims | Practice Support Services | Insurance Services | Underwriting
We are committed to working efficiently and effectively to continuously improve all aspects of operations. However, to navigate a complex and changing world, we conduct all of our operations within robust risk management, information management and compliance frameworks.
Keeping premiums affordable and sustainable isn’t just a focus, it’s also one of our business goals.
Lawcover’s approach to monitoring and improving the customer experience for our nearly 19,000 insured lawyers is based on a desire to meet and exceed customer expectations.
In order to gauge our performance against targets, Lawcover conducts regular customer feedback surveys on key areas of service. These surveys offer insured lawyers the opportunity to provide feedback as well as performance metrics.
The Lawcover PII policy is underwritten by Lawcover Insurance Pty Ltd (Lawcover). As part of our capital risk management strategy we reduce our exposure to large or catastrophic loss by purchasing reinsurance from global reinsurers. Included in the panel of reinsurers we select are some of the world’s largest casualty and property reinsurance specialists.