Solicitors in the ACT holding an unrestricted practising certificate are required to hold an approved professional indemnity policy under section 311 of the Legal Profession Act 2006.
Under the terms of the Legal Profession Act 2006, the Law Society is responsible for approving certain arrangements with respect to solicitors’ compulsory professional indemnity insurance. Specifically, the Society is responsible for approving policies of insurance which are marketed to law firms in the ACT.
The Society has approved three policies of insurance. They include the policies marketed by:
- Lawcover Insurance Pty Ltd
- The Legal Practitioners Liability Committee of Victoria (in respect only of firms who have an office in Victoria in addition to their office in the ACT)
- Liberty International Underwriters (in respect of community legal centres)