Closing a Practice

LPLC provides run-off cover to the following law practices:

• Sole practitioners who have ceased to engage in legal practice and have surrendered their practising certificate
• Partnerships and incorporated legal practices which have been disbanded and are not determined by LPLC to be a ‘prior practice’ of a law practice that is continuing to be insured by LPLC or by an approved professional indemnity insurer under the laws of another State or Territory.

To qualify for run-off cover to apply, the law practice must have been insured by LPLC immediately prior to ceasing legal practice.

The run-off policy is provided free of charge and applies automatically without application by a law practice once its qualifying terms are met.

This cover is part of LPLC’s insurance scheme for solicitors and is provided through a master policy for run-off liabilities issued annually.