risk-management.php

Water hotline service

LPLC has a Water Hotline that answers our practitioners client-related water unbundling questions.

Practitioners should email Heather Hibberd at heather.hibberd@lplc.com.au or contact her on +61 3 9672 3800. Where the queries are complex we will brief one of our panel of water experts to advise and LPLC will pay for the  first half of time in providing the answer. The response will be provided to the LPLC and the enquiring practitioner. If the query requires more than the half hour the panel practitioner will contact the insured practitioner making the enquiry and come to an arrangement.

Contact details
Heather Hibberd | +61 3 9672 3800 | heather.hibberd@lplc.com.au

1 May 2018

Post mortem risk management

Good risk management includes analysing mistakes and learning from them. IWhat has a post mortem examination to do with risk management? A doctor conducting a post mortem thoroughly examines the deceased to try to determine the cause and manner of death. The results are also useful for research and educational purposes. Consider doing a post […]

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1 April 2018

Conveyancing claims on the rise

What risk management practices are you doing to avoid a conveyancing claim? In 2016/17 LPLC received 127 conveyancing claims and notifications which represented approximately 30 per cent of all claims and notifications received that year. The cost is currently estimated to be in excess of $10 million. This represents an increase in both the number […]

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27 March 2018

In Check Issue 78 | March 2018

Cyber fraud – it can happen to you No firm is immune from cyber-criminals and their fake emails. We are seeing an increase in attempts to steal money by hackers masquerading as either the client or the lawyer in fake emails. Below is a summary of two of our recent notifications. The law firm duped […]

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1 March 2018

Will it be right?

Mistakes in the preparation of wills can be avoided with careful proofreading. In the 2016-17 policy year, wills and estates claims accounted for 11.7 per cent of the total cost of claims and 8.4 per cent of the total number. In the previous 10-year period, these figures were 6.8 per cent and 3.2 per cent […]

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6 February 2018

Deputy takes the helm

The Legal Practitioners’ Liability Committee welcomes its new CEO. Justin Toohey took over as CEO of the LPLC on 1 January following the retirement of Miranda Milne, who had held the role since 1996. Previously deputy CEO and head of claims since 2005, he is committed to strengthening LPLC’s relationships with all its stakeholders. “I […]

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29 June 2017

Cyber security breach – claims caused by fake client email

It is no longer safe practice to transfer money to a client’s account based only on email instructions from your client. Always verify email instructions from a client, especially if it involves handling money, by confirming the details orally with the client. LPLC has received four notifications in the last two years, one only last […]

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6 November 2016

CGT withholding payments – practical examples

Updated July 2017 Table of contentsIntroductionTaxable Australian real property acquired directly from registered proprietor(s)LeasesIndirect Australian real property interestsOther issuesDeceased estates and trustsGSTFurther information on the ATO website Introduction This bulletin contains practical examples of how the withholding requirements, which commenced 1 July 2016 and were amended with effect from 1 July 2017, work. For more […]

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19 October 2016

Cyber security cautionary tale

Table of contentsIntroductionThe realistic emailHijacking his emailLessons Introduction Cyber security needs to be at the forefront of everyone’s mind, whether you are in a small firm or a large firm. The recent experience of a Victorian law firm is a good example of how easy it is to be caught out. The realistic email A […]

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6 July 2016

Amended CGT withholding payments for options, company title interests and indirect Australian real property transactions

Updated July 2017 Table of contentsIntroductionOptions and rights to acquireCompany title interestsIndirect Australian real property interestNon-portfolio interest testPrincipal asset testResidency declarationsMembership interest declarations Introduction This bulletin contains information on the withholding requirements which commenced on 1 July 2016 as amended in June 2017 by the Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act […]

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2 June 2016

1 July 2017 amended CGT withholding payments for real property sales

Updated July 2017 Table of contentsKey pointsIntroductionBackgroundKey obligationsExceptionsAssets which are caughtMarket valueWhat to do when acting for a vendorWhat to do when acting for a purchaserATO forms and information Key points Amended withholding requirements for contracts of sale of real estate worth $750,000 or more from 1 July 2017. All purchasers of such real estate […]

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25 May 2018

You need to take the good with the bad

When acting in litigation, it is essential to take detailed instructions about any circumstances that weaken your client’s case in addition to those that support the case. In one claim, the practitioner acted for a claimant in a claim under Part IV of the Administration and Probate Act 1958 (Vic) against the estate of her […]

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18 May 2018

Avoid the section 32 traps

Every year LPLC sees conveyancing claims where the cause of the claim is defective section 32 disclosure. To properly advise clients practitioners need to understand the vendor disclosure obligations in the Sale of Land Act 1962 (Vic). Reviewing relevant cases, attending seminars about conveyancing and reading relevant texts are other things practitioners can do to […]

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11 May 2018

Risks for the bank of mum and dad

Practitioners asked to act in transactions where parents lend money to their children to help them buy a house should stop and think about the transaction. Who are they acting for? Who else could think the practitioner is looking after their interests? If you are acting for the child in the purchase of the property […]

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27 April 2018

It’s not routine for the client

Advice on a ‘cross roads’ decision for the client, such as whether to proceed with a contract of sale or bring it to an end, should always be recorded in sufficient detail in a file note and confirmed in writing to the client. It is important not to cut corners, even when the advice seems […]

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20 April 2018

Communicate better with colleagues to close the cracks

Tasks fall between the cracks when practitioners fail to communicate proactively and effectively with colleagues. In one claim, the firm was retained by a lender to prepare a loan agreement and lodge caveats over several properties owned by the borrower. The following year, the borrower asked a consultant at the firm to arrange for the […]

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7 May 2018

Key Risk Checklist: Sale of land – questions for the vendor

Sale of land – questions for the vendor   Instructions ☐  Please circle yes or no as applicable. ☐  Please provide the additional information as indicated e.g. a copy of your title(s). ☐  If you do not know the answer or are unable to provide the additional information please insert the words ‘not known’. ☐ […]

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24 April 2018

Key Risk Checklist: GST

GST is not simple but there are some easy steps you can take to help protect you and your clients. References to divisions and sections can be found in A New Tax System (Goods and Services Tax) Act 1999 (Cwlth). GST alert – for contracts entered into from 1 July 2018, purchaser to collect and […]

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18 December 2017

Key Risk Checklist: Electronic property transactions – office management

Electronic property transactions – office management checklist Office policy content Below is a list of issues to consider when writing your office policy and recommended responses. ☐  Who will hold a digital signature? The digital signature is embedded in a USB. Preferably only partners have digital signatures. ☐  How a digital signature’s USB and pin […]

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18 December 2017

Key Risk Checklist: Electronic property transactions

Electronic property transactions – matter checklist ☐  Is there an electronic transaction clause in the contract? ☐  Discussed with the client whether the conveyance can be done electronically or on paper. – Land Use Victoria has announced that all transaction will be electronic by August 2019. ☐  Client told consequences of conducting electronically. Any paper […]

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12 December 2017

Key Risk Checklist: Solicitor’s certificates for borrowers or surety providers

Updated: December 2017 Solicitor’s certificates for borrowers or surety providers ☐  Allocate only one person in the office to give solicitor’s certificates. ☐  Confine the provision of a solicitor’s certificate to existing clients. ☐  Where the client receives the security documents before you, request they send you the documents well in advance of your meeting […]

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24 April 2018

Avoiding superannuation claims

Table of contentsIntroductionCommon themesSuperannuation related claims from 1 July 2015 to 30 June 2017Areas of lawSuperannuation checklistAppendix one Introduction Every year LPLC sees claims involving superannuation funds. Claims sometimes arise because the practitioner does not have sufficient knowledge or experience with superannuation matters. Practitioners who regularly act in this area will agree that extensive expertise […]

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5 February 2018

Pitfalls in personal injury litigation

Table of contentsPersonal injury litigationThe causesThe best risk management – an informed clientCommon mistakesWorkplace injuriesPublic liability and medical negligenceTransport accident claimsEmerging area of riskLPLC Personal Injury Litigation ChecklistAppendix 1 Personal injury litigation Clients seek out litigation lawyers only when something has gone wrong. In the personal injury arena, they have the added difficulty of dealing […]

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24 January 2018

A guide for executors

Table of contents18 frequently asked questions about being an executor.1 Who is an executor?2 What is ‘an estate’?3 Who is a beneficiary?4 What is the role of an executor?5 Must an executor take on the responsibility?6 Who arranges the funeral?7 What happens to the bodily remains?8 Should there be a reading of the will?9 What […]

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24 January 2018

A guide for beneficiaries

Table of contents20 frequently asked questions about being a beneficiary1 Who is a beneficiary?2 What is ‘an estate’?3 Who is an executor?4 What is the role of the executor?5 Do all the beneficiaries need to agree with decisions of the executor?6 Must an executor take on the responsibility?7 Who pays the executor?8 Who arranges the […]

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6 November 2017

Looking after leases

Table of contentsIntroductionThe best risk managementThe problem areasPPS ActRetail leases and essential safety measuresLPLC Tenant’s Practitioner ChecklistLPLC Landlord’s Practitioner ChecklistAppendix OneAppendix Two Introduction Looking after leases contains details of claims, relevant cases and legislation affecting retail leases. It is designed to raise your awareness of common problems in commercial and retail lease transactions, and help you […]

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4 May 2018

Risk video bite – Family law financial agreements

Presenter: Alex Macmillan, Claims Manager, LPLC

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6 April 2018

Risk video bite – Drafting

Presenter: Matthew Rose, Risk Manager, LPLC

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2 March 2018

Risk video bite – Conveyancing

Presenter: Phillip Nolan, Risk Manager, LPLC

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2 February 2018

Risk video bite – Personal injuries litigation

Presenter: Matthew Rose, Risk Manager, LPLC

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1 December 2017

Risk video bite – Supervision

Presenter: Alex Macmillan, Risk Manager, LPLC

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16 April 2018

About LPLC – serving and protecting you!

It’s your insurance scheme! Your scheme provides universal, comprehensive and secure statutory professional indemnity insurance (PII). You get certainty of cover from year to year without the cyclical fluctuations of the commercial insurance market and automatic run-off cover to protect you from claims after you cease legal practice. The policy protects you from the financial […]

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10 April 2018

Cyber fraud – five steps to protect yourself

Table of contentsCyber thieves are clever. They target lawyers because we direct transfers of money and they want to steal it.DON’T FALL FOR IT!Five steps to protect yourself.Download the poster below. Please put it up in your office kitchen to make sure everyone in the team knows what to do.It can happen to youFor more information about […]

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6 February 2018

Cost estimates | Client brochure

Many clients have never retained a lawyer before and do not know how to work effectively with them or understand what a cost estimate is. This lack of understanding sometimes contributes to claims against law firms that could have been avoided or minimised if there had been better communication between the firm and the client about […]

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6 February 2018

Snapshot – Family law

Snapshots provide data and main causes of claims in areas of practice as well as risk management strategies at a glance. Click the image to enlarge or download above.                        

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5 February 2018

Cyber security – how to protect yourself | Client brochure

Table of contentsOur firm has proactive steps in place to protect you and your information from cyber-attack. We also need you to take some precautionary steps to ensure the security of your information.What we will doWhat we recommend you do Our firm has proactive steps in place to protect you and your information from cyber-attack. […]

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