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Premium information for insurance cover for period 1 July 2025 to 30 June 2026.

Base premiums are calculated with reference to the law practice’s gross fee income (GFI).

In most cases this will be the law practice’s actual GFI for the financial year ended 30 June 2024, but where the practice is newly established the premium will be calculated according to estimated GFI for the upcoming insurance year.

The premium rates have been determined on advice from LPLC actuary and reflect the claims experience of law practices insured by LPLC for particular GFI ranges.


Gross fee income

Base premium

Premium

(incl GST and stamp duty)

Nil

$220

$261.36

$1 – $19,999

$371

$440.75

$20,000 – $39,999

$879

$1044.25

$40,000 – $59,999

$1,681

$1,997.03

$60,000 – $79,999

$2,766

$3,286.01

$80,000 – $99,999

$4,134

$4,911.19

$100,000 and above
The base premium is calculated
as a percentage
of law practice Gross Fee Income (GFI).
The rate depends on the assessed GFI.


Concessional premiums

Law practices working exclusively in the following areas, and with no adverse claims history, are eligible for a concessional premium:

  • Criminal advocates
  • Legal cost consultants
  • Mediators
  • Arbitrators with express statutory immunity
  • Matters in the Children’s Court of Victoria
Gross fee income
Base premium

Premium

(incl GST and stamp duty)

Nil
$220
$261.36
$1 – $19,999
$371
$440.75
$20,000 – $39,999$489$580.93
$40,000 – $59,999$601$713.99
$60,000 – $79,999$714$848.23
$80,000 – $99,999$827$982.48
$100,000 or more
20% of the full premium rate

Claims loadings

Law practices with an adverse claims history are subject to a claims loading.

The claims loading is added to the base premium before the calculation of GST and stamp duty.

Claims loadings depend on the amount of premium paid by the law practice and the frequency and severity of claims.

Notifications of circumstances which have not become claims are excluded from the calculation of claims loadings.



Contact us for more information about solicitor premiums

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