The online versions of the policies and endorsements listed below are provided for reference only. In the event of a discrepancy in wording between the online copies and those provided in the Member’s Manual, the wording in the Member’s Manual governs.
The terms and conditions of the Policy are revised annually. Please ensure you are looking at the correct version of the Policy.
Current Policy
The 2024 Policy includes the addition of expense reimbursement for a successful defence of an alleged offence under Prohibition on the Purchase of Residential Property by Non-Canadians Act; wording revisions to the definitions of “damages”, “privacy breach”, and “professional services” to clarify intent; and adds Indemnity Agreement 2.11 for the potential benefit of the previous Business Innocent Covered Party Coverage endorsement which has been discontinued as a separate, optional coverage. Due diligence guidance for Indemnity Agreement 2.11 can be found in LIF Coverage information: The Benefit and Business Exclusion (Exclusion 6). For more information, see Indemnity Issues 2024 No. 1.
Previous policies (from 2000)
The 2023 Policy added “dependent contractor” as a defined term to clarify the function of Exclusion 7, which applies to claims by an employer against an in-house lawyer. Also, Part C (Trust Shortage Liability) was amended to allow a 15% deductible (reduced from 35%) for instances where the indemnified lawyer can demonstrate that a secondary verification of funds transfer instructions was made. The Part C Retention Endorsement was deleted as coverage is no longer coordinated with other social engineering fraud coverage. For more information, see Indemnity Issues 2023 No. 1.
The 2022 Policy expanded the “sanctioned pro bono services” to cover limited solicitor services provided to charities and not-for-profit organizations. The policy also includes new definitions for cybercrime, data breach, and privacy breach to clarify what is not covered (see exclusions 9 and 10). For more information, see Indemnity Issues 2022 No. 1.
The 2021 Policy added two options: in-house lawyers can pay the indemnity fee and participate in the Indemnification Program, and law firms can purchase liability coverage for claims that are denied due to the “business exclusion” in the compulsory policy. For more information, see Indemnity Issues 2021 No. 1.
In June 2021, cyber insurance was incorporated into the Indemnification Program, including social engineering fraud (“SEF”) coverage. The Part C Retention Endorsement was added making the Part C limit of liability above other available SEF coverage. The Part C deductible was reduced from 35% to 15% for those firms without other SEF coverage.
The 2020 Policy adds one new coverage to Part A: Professional Liability (E&O) and amends some existing language to clarify coverage. Claims reported by email to LIFclaims@lif.ca are now accepted. Reporting guidelines remain the same. For more information, see Indemnity Issues 2020 No. 1.
The 2019 Policy makes minor wording revisions to the definition of “error” and the definition or “professional services.” For more information, see Insurance Issues 2019 No. 1. For your assistance, we also provide this index to the 2019 Policy. Please note the qualifications listed at the top.
The 2018 Policy makes minor wording revisions to Declaration 3 (Limits of Liability) and to the definition of "professional services." For more information, see Insurance Issues 2018 No. 1. For your assistance, we also provide this index to the 2018 Policy. Please note the qualifications listed at the top.
The 2017 Policy amends Exclusion 11 and creates a new Exclusion 12, renumbers Exclusions 12 through 20, adds Condition 1.16 and amends Conditions 6.1.2, 9.2 and 9.3; and for Part C (trust shortage liability) only, amends the heading and the definitions of "damages" and "errors" (expands coverage). For more information, see Insurance Issues 2017 No. 1. For your assistance, we also provide this index to the 2017 Policy. Please note the qualifications listed at the top.
The 2016 Policy amends the definition of "damages"; and for Part B (trust protection), amends the definition of "compensation program" and removes Exclusion 13. Some changes to reflect the renumbering of the Law Society Rules are also made. For more information, see Insurance Issues 2016 No. 1. For your assistance, we also provide this index to the 2016 Policy. Please note the qualifications listed at the top.
The 2015 Policy amends the definition of "Canadian legal advisor", makes minor wording revisions to the exclusions (other than Exclusions 13, 16, 17 and 21), and for Part A (negligence) amends Insuring Agreements A 2.1.2(b) and adds Insuring Agreement 2.8. Some changes to the format and display are also made. For more information, see Insurance Issues 2015 No. 1. For your assistance, we also provide this index to the 2015 Policy. Please note the qualifications listed at the top.
The 2014 Policy (consolidated) – incorporates changes to the wording made by endorsement in 2013 and mobility provisions required by the National Mobility Agreement, 2013, and amends Exclusion 12 and Conditions 3, 7 and 10; and for Part B (theft), amends the definition of "compensation program" and provision of Part B. For more information, see Insurance Issues 2014 No. 1.
The 2013 renewal endorsement – renews the 2012 Policy for 2013, adds a statement as required by the Insurance Act, s. 11 (1)(i), amends the definition of "reciprocal jurisdiction" and amends Condition 5.4. For more information, see Insurance Issues 2013 No. 1.
2012 Policy (consolidated) – introduces trust shortage liability insurance (for reliance on fraudulent certified cheques) (Part C); incorporates changes to the wording made by endorsements in 2010 and 2011; amends the definition of “professional services”; introduces an arbitration provision (Condition 10.2); amends Conditions 4.1, 10.1 and 18; adds headings; and for Part A (negligence), amends the definition of “error,” adds a new exclusion and amends Insuring Agreement A 2.4, Exclusion 11 and Condition 1.2.2. For more information, see Insurance Issues 2012 No. 1.
2011 renewal endorsement – renews the 2010 policy for 2011, amends the definition of “damages”, amends Exclusion 7, Insuring Agreement 2.4, Conditions 4.1, 5.1.1, 5.4 and Condition 18. For more information, see Insurance Issues 2011 No. 1.
2010 endorsement no. 1 – sets out the terms and conditions of coverage for multi-disciplinary practices and for BC members acting as Canadian Legal advisor members of the Barreau du Québec. For more information, see Insurance Issues 2010 No. 1.
2010 Policy (consolidated) – amends the definition of "professional services", Conditions 4.1 and 5.4; for Part A (negligence), clarifies allocation of claims expenses; and for Part B (theft), introduces new limits of liability for inter-jurisdictional practice and revises Exclusion 17. For more information, see Insurance Issues 2010 No. 1.
2009 Policy (consolidated) – incorporates changes to the wording made by endorsements in 2008; makes small editing revisions; for Part A (negligence), amends the definitions of “error” and “professional services”, adds two exclusions and amends Exclusion 14 (formerly Exclusion 12), Conditions 1.3, 3.5 and 9; and for Part B (theft), amends the definition of “damages” and revises Exclusion 17 (formerly Exclusion 15). For more information, see Insurance issues 2009 No. 1.
2008 renewal endorsement – renews the 2007 Policy for 2008, amends the definition of “unauthorized practice”, Exclusions 7 and 8 and Conditions 5.4 and 9.2, and adds new Conditions 3.3 and 19. For more information, see Insurance Issues 2008 No. 1.
2007 Policy (consolidated) – incorporates changes to the wording made by endorsements in 2005 and 2006; for Part A (negligence), amends the description of the deductible, the definition of “damages” and Condition 2.3; and for Part B (theft), clarifies that Part B does not apply either to losses resulting from investments made through lawyers, unless a lawyer misappropriates the funds directly, or to personal loans made to lawyers, and limits recoveries to $300,000 per claim. For more information, see Insurance Issues 2007 No. 1.
2006 renewal endorsement – renews the 2005 Policy for 2006, amends the definition of "personal injury", and amends Insuring Agreement A 3.5 and a provision of Part B. For more information, see Insurance Issues 2006 No. 1.
2005 renewal endorsement – renews the 2004 Policy for 2005, reinstates the aggregate limit for Part A, and clarifies the intent of certain provisions for Part B. For more information, see Insurance Issues 2005 No. 1.
May 1, 2004 Policy (consolidated) – introduces "trust protection" coverage for theft (Part B), incorporates changes to the wording made by endorsements issued after 2000, and adds some minor wording revisions. For more information, see Insurance Issues 2004 No. 2.
2004 second renewal endorsement – amends the 2004 Policy period to January 1 to May 1, 2004.
2004 renewal endorsement – renews the 2003 Policy without further change except to specifically reference the Western Law Societies Conveyancing Protocol. For more information on the wording changes, please see Insurance Issues No. 1 – March, 2004.
2003 second renewal endorsement – incorporates mobility provisions required by the National Mobility Agreement.
2003 renewal endorsement – renews the 2002 Policy for 2003, without further changes.
2002 second renewal endorsement – extends coverage to lawyers employed by legal aid and public advocacy groups. For more information, see the excerpt from Benchers' Bulletin, May-June/July-August, 2002.
2002 renewal endorsement – renews the 2001 Policy, extends coverage for approved pro bono services, amends the definition of "additional insured," and amends Exclusions 6.2 and 6.2.3. For more information, see Insurance Issues 2002 No. 1 and approved pro bono services.
2001 renewal endorsement – renews the 2000 Policy, amends the definitions of "Additional Insured" and "damages," and amends Exclusion 6.2.3 and 8. For more information, see Insurance Issues 2001 No. 1.
2000 Policy (consolidated) – incorporates changes to the wording made by endorsement in 1998 and 1999, amends the definitions of "common-law spouse" and "error," amends Exclusion 6.2 and 6.2.3, amends Conditions 3.2, 5, 6, 8.1 and 10, and replaces Condition 16. For more information, see Insurance Issues 2000 No. 1.