Monday, 9 December 2019

When must you notify Law Mutual of a Claim?

A law practice must notify any Claim to Law Mutual (WA) in writing as soon as practicable after the Claim is made. The sooner we know about a matter, the quicker we are able to assist.

What is a Claim?

Under the Law Mutual (WA) policy wording a Claim is:

1. A demand for, or an assertion of a right to, compensation or damages; or
    
2. An intimation of an intention to seek compensation or damages; or
    
3. A writ or other court document served, in which a demand for or assertion of rights to, compensation or damages is made; or
    
4. A liability to pay money imposed by a Court order.

A delay in notifying Law Mutual of a Claim may breach your policy and may prejudice Law Mutual’s ability to defend the Claim.

What if it’s not yet a Claim?

Even if a Claim has not yet been made against you, you must notify Law Mutual in writing if you are aware of circumstances that may later lead to a Claim being made against you. This allows for a possible early intervention which, in our experience, may result in a more cost-effective resolution and potentially a more favourable claims history for your law practice.

Circumstances that are not yet claims are never taken into account when calculating annual contributions (premiums). It is important that law practices do not avoid notifying circumstances through fear of incurring a claims loading.

If you have any doubt about whether you should notify please contact Law Mutual (WA) on (08) 9481 3111 and ask to speak to our Manager - Claims.

Risk Management Discount

This year, 303 firms received the 5% discount on the Annual Contribution and enjoyed discounts ranging from $275 to many thousands of dollars.

To qualify for a Risk Management Discount on their 2020/2021 Annual Contribution, practices must ensure that:

1. All of the Partners or Practitioner Directors and at least 80% of the employed Practitioners of the Law Practice have attended at least two (2) hours of Law Mutual (WA) approved risk management training during the period 1 March 2019 to 28 February 2020.
    
2. The Practice declares in its Application for Insurance that it has met the training requirements above and is entitled to the Risk Management Discount.
    
3. The Practice is able to produce, within 7 days of a written request by Law Mutual (WA), documentary proof that it has met the training requirements, such as certificates of the attendance of Practitioners at approved training.

The Practice must agree that if such documentary proof is not produced to the satisfaction of Law Mutual (WA), the Practice will immediately repay to Law Mutual (WA) the equivalent of the Risk Management Discount it received together with the GST payable thereon. Further, the Practice will not again be entitled to a Risk Management Discount until it has completed two consecutive years of training requirements.

2019/2020 Risk Management Seminar Programme

Thanks to all who have attended or have registered for the risk management seminars on the Risk Management Programme for 2019-2020. We urge all practitioners to attend the remaining seminars below, if possible. Every practitioner is entitled to two hours of no or low cost seminars.

Upcoming Risk Seminars

To register to attend one of the above seminars, please complete the registration form here and send to cpd@lawsocietywa.asn.au.

Country Risk Management Seminar

Law Mutual (WA) will be facilitating a two-hour webinar for Country Practitioners in February 2020. Attendance will count towards your risk management training requirements for an annual contribution discount in the 2020/2021 Insurance Year.

Matter Management Guidelines – Providing Webinar

Presenter: Vicki Coles, Manager Risk, Law Mutual (WA)

2 Points: Competency 1, Practice Management

Date: Wednesday, 26 February 2020 | 12.00pm - 2.00pm

For any inquiries, please contact Shumi Tsungu, Administration & Risk Officer on (08) 9324 8624 or to register to attend the webinar email cpd@lawsocietywa.asn.au.

In-House Risk Management Seminars

Law Mutual (WA) is committed to assisting insured firms to manage professional liability risks through practical, tailored and interactive training.

We may be able to arrange an in-house workshop for your firm, depending on the number of practitioners in your firm (minimum 15 attendees required), where we focus on risks that are of most concern to your practice.

It is important to conduct the in-house seminar early enough in the insurance year, to ensure that there is time for any practitioners that have unfortunately missed the in-house seminar, to fill the risk management training gaps by utilising the remainder of our face-to-face Risk Management seminar programme before the 28 February 2020 deadline, if your practice is intending on applying for the Risk Management Discount.

To arrange an In-House Risk Management Seminar for your practice, please contact Shumi Tsungu, Administration & Risk Officer on (08) 9324 8624 or email stsungu@lawmutualwa.com.au.

Reminder

All Law Mutual (WA) invoices must be paid prior to the commencement date of the insurance to ensure that a compliance notice can be sent to the Legal Practice Board.

Contact Law Mutual (WA)

Street Address: Level 4, 160 St Georges Terrace, Perth WA 6000
Postal Address: PO Box Z5345, Perth WA 6831
Telephone:  (08) 9481 3111   |   Facsimile:  (08) 9481 3166
Email: info@lawmutualwa.com.au   |   Website: www.lawmutualwa.com.au