Paralegals: By-Law 6 amendments came into effect Jan. 1
At October’s Convocation in 2015, By-Law 6 was amended respecting professional liability insurance coverage for professional corporations.
The amendments make clear that paralegal shareholders of combined licensee professional corporations (those with both licensed paralegal and lawyer shareholders) are to be insured through Lawyers’ Professional Indemnity Company (LAWPRO).
Therefore, effective January 1, 2016, a licensee who holds a Class P1 licence shall maintain insurance against professional liability under a policy of professional liability insurance issued by LAWPRO, if:
(a) the licensee is a partner in a partnership where licensees who hold a Class L1 licence are also partners and the business of the partnership is the practice of law in Ontario or the provision of legal services in Ontario; or
(b) the licensee is a shareholder in a professional corporation where licensees who hold a Class L1 licence are also shareholders and the business of the professional corporation is the practice of law in Ontario and the provision of legal services in Ontario.
Please see the full report for more details.