For over 35 years, the Canadian Lawyers Insurance Association (CLIA) has worked to bring peace of mind to the lawyers in its subscriber jurisdictions which includes Nova Scotia.
In November 2023, CLIA launched a blog, Not So Risky Business, to help with loss prevention. Every Wednesday you can expect an informative post on topics to better help you manage your practice, avoid errors and understand your insurance coverage needs. To receive these posts directly in your inbox, subscribe here.
Recent posts include:
Fraud Alert: Real estate identity fraud: The risk is growing – be on high alert
British Columbia’s Lawyers Indemnity Fund reported on a sophisticated real estate identity fraud thwarted by a savvy BC lawyer. The lawyer was retained by a corporate borrower who was seeking a $950,000 loan from a private lender to be secured by a mortgage against a new build duplex. The lawyer met in person with the corporation’s sole director, and obtained copies of what appeared to be valid government issued ID. But, the lawyer felt something was off.
https://www.clia.ca/not-so-risky-business/fraud-alert-real-estate-identity-fraud-the-risk-is-growing
Real Claims: Misuse of Trust Funds
While it may seem obvious that misuse of trust funds ought to be avoided and could be easily avoided, claims in this area do occur and can result in high value losses for clients.
Also known as defalcation claims, these claims are the basis of claims CLIA sees under its Compensation Fund coverage afforded to its subscribing law societies. Under the mandatory errors and omissions policy, misappropriation of funds and any form of fraud are excluded by the policy and would not be covered. Misuse of trust funds or trust fund fraud exposes lawyers and law firms to potentially uninsured liability.
Read about real claim examples
Roundup: Artificial Intelligence
Blog articles related to artificial intelligence are amongst our highest read articles.
In case you missed it, here is a collection of loss prevention posts focused on artificial intelligence to help you better manage your practice and avoid errors: Read articles
Don’t Let It Show: The Stigma of Illness
*Melanie Hodges Neufeld
This article was originally published on Melanie’s personal blog, It’s Friday I’m in Law. To help reduce the stigma facing lawyers living with a disability and help achieve wellness for all in the profession, Melanie is sharing her experience with chronic illness through a series of blog posts on her personal blog. Read article
Bite Size CPD September Showcase – Protecting Confidential Information
CLIA is proud to partner with the Law Society of Saskatchewan and Saskatchewan Lawyers’ Insurance Association (SLIA) to present Bite Size CPD.
Bite Size CPD are short, under 12-minute CPD videos, covering a variety of topics including cybersecurity, wellness, practice management, client management, and more. The videos qualify for CPD in Saskatchewan and may qualify for CPD in other jurisdictions as well.
Lawyers have obligations to protect confidential client information, and in a modern practice, document and information volume is high and is spread across multiple devices. This month, we have gathered videos containing tips to help you manage information and devices in a way that protects client information: To view, click here