hong kong law society professional indemnity insurance

I have extensive experience in handling a wide range of insurance coverage matters on behalf of the major . Adrian's education is listed on their profile. PIS Indemnity Limit. Found inside – Page 111General Insurance Council of Hong Kong : past chairman Legislation and Legal Affairs Committee of the General Insurance ... Partner specialising in professional indemnity litigation , in particular for the legal profession's leading ... Found inside – Page 383K Insurance Council , 154 Insurance Industry Self - Regulation Working Group , 148 Intellectural Property ... 194 , 196 , 201 , 195 Landord and Tenant Ordinances , 222 Lantau , Cheung Chau , Lamma , 221 Laos , 113 Law Society , 28 LCD ... agrees to abide by the rules and regulations (including Code of Professional Conduct) of HKPS & DCP. Professional Indemnity insurance in Australia is available for a wide range of businesses that provide specialised or expert advice for a fee. Advocates and solicitors in Singapore must declare that they have obtained such insurance in their annual application to renew practicing certificates. 159M) (“PIS Rules”) where indemnity is currently provided by the Hong Kong Solicitors Indemnity Fund established by the Law Society. In general terms, the purpose of the PIS is to provide indemnity against loss arising from claims in respect of any civil liability incurred by a solicitor in connection with his/her practice. Intelligent risk management, the very best legal defence and an influential voice for your profession combine to provide the freedom to . Found inside – Page 743... 301-302 Financial services see also Insurance choice between tort and contract and , 51-52 liability for economic ... 713-714 Homologation , 20 , 34 Honest belief auctioneer and , 253 auditor and , 272 Hong Kong proximity and duty ... The Law Society of Hong Kong is a professional association for solicitors in Hong Kong vested with statutory powers to regulate the professional conduct of solicitors, trainee solicitors and foreign lawyers. 8(1)(c) of Schedule 3 to the PIS Rules) to give the Indemnified and the Company a choice to refer a difference or dispute arising between them regarding the defence or settlement of a claim, to either a Junior or a Senior Counsel for final determination (the “Counsel Clause”). A form of professional indemnity insurance, medical malpractice insurance provides individual healthcare practitioners and medical establishments with protection and tools to manage the evolving risks of today's complex healthcare industry. In general terms, the purpose of the PIS is to provide indemnity against loss arising from claims in respect of any civil liability incurred by a solicitor in connection with his/her practice. Hong Kong Virtual Law Fair; Singapore Virtual Law Fair . (Hong Kong) LLP (a limited liability partnership registered in England & Wales and registered and regulated as a foreign law firm by the Law Society of Hong Kong, operating in Hong Kong as a Hong Kong limited liability partnership pursuant to the Legal Practitioners Ordinance) in association with Francis & Co. Hong Kong via Mr Michael Scott, SASG/GLP Dear Mrs Ma, Panel on Administration of Justice and Legal Services Meeting on 23 January 2006 at 4:30 pm Item V: Professional Indemnity Scheme of the Law Society of Hong Kong I refer to your letter dated 5 January 2006 regarding the above matter. On Tuesday 27 July 2021, the International team joined up with the Law Society of Hong Kong (LSHK) to host a joint webinar discussing the legal issues affecting Hong Kong and England and Wales 26 Aug 2021 For those Hong Kong law firms that operate in the form of limited liability partnerships (“LLPs”), they are required under the Legal Practitioners Ordinance to have in existence, in addition to the indemnity which the LLPs are entitled under the PIS, a policy of insurance which provides indemnity up to an amount not less than HK$10 million in respect of any single claim. With the increase of the PIS indemnity limit, the threshold that triggers the requirement on LLPs to take out an additional professional indemnity policy will be moved further up, and this may result in premium savings for the LLPs. P. C. Woo & Co. are one of the panel solicitors under the Hong Kong Law Society Professional Indemnity Scheme and the Hospital Authority. The Law Society of . 'Antony Sassi is the pre-eminent professional indemnity and D&O coverage counsel in Hong Kong. PLUS University Series Whether you're new to the professional liability industry altogether, or new to cyber liability in particular, PLUS has 2 University series tailored to help you learn the basics and be successful in your career. (1) Compulsory professional indemnity insurance for solicitors was introduced by the Law Society of Hong Kong ("Law Society") in 1980. 7. . Are lawyers required by such rules to work a minimum number of pro bono hours? Found inside – Page 232A professional Indemnity Insurance Scheme was introduced in 1980 , and in 1986 the Council of the Law Society announced that conveyancing claims ( for negligence ) had totalled about 50 per cent ( in number and amount ) of all claims.37 ... We have experts in London and across Asia, with teams working in Singapore, Hong Kong, Kuala Lumpar, Mumbai, Shanghai, and . Hong Kong. To deal with this issue, the QBE Information & Communication Technology insurance policy combines attributes of professional indemnity, product liability and public liability into a single policy. The PIS covers all Hong Kong law firms. Found inside – Page 28Since the early 1980s the Law Society of NSW ( and since 1987 LawCover ) has secured professional indemnity insurance on behalf of solicitors under an agency model master policy arrangement between the Law Society and the commercial ... RPC- law firm. January 1990. Bylined article by Head of Insurance in London Will Glassey on the benefits of professional indemnity insurance. Found insideAlastair is a Hong Kong-based aviation lawyer, acting for various service providers, such as airlines, aircraft operators ... His practice also includes insurance and reinsurance, professional indemnity, arbitration and competition law. Select your level of Professional Indemnity cover * Select an answer. It was incorporated in 1907 as a company limited by guarantee. We endeavour to keep the PIS under continuous review to assist our members in overcoming challenges they may face when running their practices. The Professional Indemnity Scheme (“PIS”) provides compulsory professional indemnity to Hong Kong law firms against losses arising from civil liability incurred in connection with their practices. (ii) clarify that where two Hong Kong law firms are in association, the practising certificates of solicitors working concurrently for both associated firms will be suspended if any one of such associated firms does not have a valid receipt under the PIS (as per r. 6(2) of the PIS Rules). As the Honourable Member's question relates to the professional conduct of practising solicitors, the Government has consulted the Law Society of Hong Kong, which is the regulatory body for solicitors in Hong Kong. He has particular experience in employment and media work (for South China Morning Post, Google, YouTube and other international publishers), professional negligence (for the Hong Kong Solicitors Indemnity Fund Limited and Essar Insurance Services Limited, the Hospital Authority and other commercial indemnity insurers) and insolvency disputes. If you want to match the order of words, specify NEAR ( (Apple, Lemon), 2, true) Wildcards Search (% or _) A percent sign (%) can be used to match zero or more characters of English words at the same time. Further, in view of the growing trend of solicitors expanding their multi-jurisdictional practices, it is anticipated that the number of RFLs practising in Hong Kong law firms will continue to increase. Discover. During 2019, the Hong Kong insurance industry's total gross premiums increased by 10.2% to HKD566.9 billion. professional indemnity insurance cover in accordance with the minimum requirements for insurance brokers. The Solicitors (Professional Indemnity) (Amendment) Rules 2016 and Solicitors’ (Practice) (Amendment) Rules 2016 (together “Amendment Rules”) were gazetted on 25 November 2016. A copy of the Hong Kong Solicitors' Guide to Professional Conduct is available on The Law Society of Hong Kong's website, www.hklawsoc.org.hk. The number of RFLs employed by Hong Kong law firms (and covered under the PIS) has grown by over 156 percent from 450 in 2003 to 1,151 in 2018. 2021. DLA Piper is a global law firm with lawyers located in more than 30 countries throughout the Americas, Asia Pacific, Europe, Africa and the Middle East, positioning us to help companies with their legal needs anywhere in the world. It was incorporated in 1907 as a company limited by guarantee. Table 1: PROFESSIONAL INDEMNITY INSURANCE REQUIREMENTS AROUND THE WORLD *Note: for information purpose; not a comprehensive listing MANDATORY PROFESSIONAL INDEMNITY LOCATION INSURANCE REQUIRED MINIMUM The Law Society of Hong Kong is a professional association for solicitors in Hong Kong vested with statutory powers to regulate the professional conduct of solicitors, trainee solicitors and foreign lawyers. The Professional Indemnity Scheme (the Scheme) From the Council Table. Found inside – Page 315"Law Courses in Australia," in R. Balmford, ed., Legal Education in Australia. ... Hong Kong: Seventh Commonwealth Law Conference Ltd. Mendelsohn, Oliver, and Matthew Lippman. 1979. ... Professional Indemnity Insurance. appl% means to find documents having "apply", "applies", "applying", "application" etc. In addition to the above, changes are being made to the PIS Rules whereby foreign lawyers employed in Hong Kong firms will be treated no differently from assistant solicitors or consultants in the PIS contribution and deductibles calculation formula. Drafting and fine-tuning of the resolutions as well as other preparatory work occupied members during the course of several meetings. (e) clarifying the Company’s discretion to take over the conduct of a claim, which is important in cases where a claim may be made against a sole practitioner who has passed away and no personal representative has been appointed to administer the estate. e.g. 16 Apr 2021 Professional indemnity insurance Found inside – Page 696Memberships : The Law Society ; The Law emphasis on professional indemnity claims for than in contract ) , “ Omega Trust Fund v Wright Society of Hong Kong . engineers and quantity surveyors and other Son & Pepper and Barker & Co ... Found inside – Page 90To explicate the three levels of controls in Hong Kong, we turn to the work of several scholars. ... review through R&D (vi) Availability of reasonable professional indemnity insurance for consumer protection (vii) Law Reform: reviewing ... Found inside – Page 733Memberships : Law Societies of Wales ; LMAA ( supporting member ) ; Hong Kong and England and Wales , HKMLA . ... regulatory , contentious probate , land and Wales , New South Wales and defamation , professional indemnity Victoria . Being a service provider myself, I know how hard it is to earn a living by providing professional service to clients. What is the Professional Indemnity Insurance (PII) Policy? With the approval of Council, Hong Kong Solicitors Indemnity Fund Limited (SIF) recently renewed the reinsurance of the Scheme with Asia Insurance Company Ltd, Sompo Japan Insurance Inc, and Wing Lung Insurance Co Ltd for three years from 1 October 2006 with an . With the current Laws of Hong Kong available on the web, the Historical Laws of Hong Kong Online database rightly . A CTA (practising or non-practising) is required, during a year, to attend recognised activities (such as seminars and workshops etc.) 1(2)(c)(iii) of Schedule 3 to the PIS Rules) so that the exclusion will not apply to an “innocent partner”; and The existing PIS indemnity limit of HK$10 million per claim has been in place since 1994. This means that subject to the terms and conditions of the PIS Rules, the relevant law firm will still be indemnified even when its principals have failed to pay the PIS contributions. Under separate professional indemnity and product liability policies, there may be a lengthy debate as to which policy will respond. Protection Against a Broad Definition of "Claims". Found inside – Page 13Foreign lawyers and law firms wishing to practise foreign law in Hong Kong must be approved and registered by Law Society . REAL PROPERTY : Foreign lawyers must provide documentary evidence of policy of indemnity insurance Conveyance of ... LCQ14: Hong Kong Solicitors Indemnity Fund ***** Following is a question by the Hon Leung Kwok Hung and a written reply by the Secretary for Justice, Mr Wong Yan Lung, SC, in the Legislative Council today (October 21): Question: Under the Solicitors (Professional Indemnity) Rules (Cap. Found inside – Page 13HONG KONG LAW DIGEST TRADEMARKS ... continued of attorney signed by applicant required . ... Foreign lawyers must provide documentary evidence of policy of indemnity insurance comparable to that required of solicitors in Hong Kong . The Academy is the professional society and accrediting body for expert witnesses of all disciplines. New Engineering Contracts (NEC) continue to have a significant impact . (b) amending the Senior Counsel Clause (para. Found inside – Page 882Grammar ; Newcastle Polytechnic ( 1976 BA experience of professional indemnity , she has Law Society of Scotland and ... Hong Kong 1987 . who joined Brodies in August 2006 . sional partnerships . gence claims against accountants and ... 159, Sub. We are the voice of solicitors, driving excellence in the profession and safeguarding the rule of law. An increase of the statutory PIS indemnity limit may bring these firms in breach of Practice Direction M. Paragraph 1(b) of Practice Direction M will therefore be amended, from 1 October 2019, to clarify that the condition refers to the requirement in the PIS Rules that is in force on the date the limitation of liability is agreed. the law society requires every lawyer to be covered for at least S$1m for each . Found inside – Page CDE-1743PRACTICE AREAS : Insurance Law ; Civil Litigation . ... PRACTICE AREAS : First and Third Party Insurance ; Insurance Coverage Law ; Insurance Bad Faith ; Appellate ... Member , Hong Kong Law Society ( Registered Foreign Lawyer ) . Found inside – Page 1406Career : Called to the Bar 1986 ; pupillage , Lamb Building , Middle Temple 1986-87 ; Denton Hall 1987-89 ; qualified 1990 ; Denton Hall , Hong Kong 1990-94 ; Bird & Bird 1994 ; partner 1996 . Education : University College , London ... After careful consideration of factors such as the rise in property values over the last twenty years, PIS claims statistics, the financial position of the Hong Kong Solicitors Indemnity Fund (“Fund”) and the compulsory professional indemnity limits in overseas jurisdictions, the PIS indemnity limit was proposed to be increased to HK$20 million per claim, effective from the 2019/2020 indemnity year, ie from 1 October 2019. The Hong Kong Government is the main employer in the construction market and, until recently, used its own standard forms of contract (derived from Institution of Civil Engineers standard forms). Angela Yim is considered a "very good name" in the insurance space. Recent Development Secretary-General, Law Society of Hong Kong, Amendments to the Solicitors (Professional Indemnity) Rules, Intricacies of a Borderless World – Part IV. Professional Indemnity Scheme of the Law Society of Hong Kong The object of this paper is to provide an update of the Administration's position relating to the review of professional indemnity insurance since the last meeting on 28 June 2004. As well as picking up an increased flow of work from the . 2. In Hong Kong we have gained broad market acceptance of our bespoke Lockton Agreed Wording (LAW), with the following features, advantages and benefits: Features: Found inside – Page 145The Law Society of Hong Kong has devised the reforms and has placed its new scheme before the Legislative Council Panel on ... The scheme proposes to replace the current Professional Indemnity Insurance Scheme with a Qualifying Insurers ... It is hardly surprising that much of the Council's time has been expended upon the issues for debate at the EGM on 16 November. Two sets of amendments to the Solicitors (Professional Indemnity) Rules (“PIS Rules”) have been gazetted and are scheduled to take effect within 2019, subject to negative vetting by LegCo. Many doctors will experience a claim or complaint at some point in their career, and it can have a huge impact on their reputation and finances. Thank you. This policy is tailor-made for HKCPA members to cover for indemnity arising from breach of professional duty in employment as a clinical psychologist. View Adrian Ohio's profile on LinkedIn, the world's largest professional community. The Law Society does not currently require RFLs, who apply for registration to be employed in a Hong Kong law firm to supply evidence of professional indemnity insurance pursuant to s. 6 of the Foreign Lawyers Registration Rules; on the basis that they are covered by the PIS. Members should take note however, that a solicitor’s practising certificate shall be suspended if he/she fails to maintain PIS cover pursuant to r. 6 of the PIS Rules; The helpline can be contacted by phoning 01 879 8707 or emailing piihelpline@lawsociety.ie . We work with a diverse range of Hong Kong insurance companies offering Professional Indemnity and Liability insurance in Hong Kong, and consequently able to provide coverage options which can include: Coverage from US$ 500,000 to US$ 15,000,000 for select industries. 10,780 licensed technical representatives (broker). To remedy this inequity in the PIS contribution calculation, the Council and the Board have resolved to incorporate the number of RFLs into the formula for calculation of PIS contributions and deductibles. The database comprises a total of seven consolidations of the laws of Hong Kong: 1890, 1901, 1912, 1923, 1937, 1950, and 1964 (last updated to 1989). I am a specialist in insurance-related dispute resolution and advisory work, with a particular focus on professional indemnity and financial lines matters. Any comments on the above or any other suggestions on the PIS can be directed to adpis@hklawsoc.org.hk. A well-crafted business plan, great products, and even the necessary funds are no guarantee for a company's success. 1.1 Respect for and upholding the rule of law and for the freedom of the individual citizen depend to a large extent on the maintenance of high standards by all who practise in the Courts. Discover The Law Society of Hong Kong is a professional association for solicitors in Hong Kong vested with statutory powers to regulate the professional conduct of solicitors, trainee solicitors and foreign lawyers. The RPLU Program is recommended for all professionals active in the field of professional liability. Discover. Found inside – Page 1172Professional Indemnity Insurance : 49 Law Inst . 1981 – Professional Indemnity Insurance J. 404. ... Royal Mel- Commonwealth Law Conference , Hong Kong , bourne Institute of Technology Course to be September 1983 : 58 A.L.J. 71. The increased limit of indemnity will not result in an increase of PIS contributions and the cost of providing the additional cover will be borne by the Fund. As of 31 December 2018, the top three home jurisdictions of RFLs are USA, England and Wales and Mainland China. M), in respect of negligence claims made by the public against solicitors who have been . If you have any comments or suggestions, you are most welcome to let me know at president@hklawsoc.org.hk. There is thus an increase in potential exposure to claims arising out of errors or omissions by RFLs in Hong Kong firms. in person to obtain a total of 15 CPD hours, of which at least 8 CPD hours should be on tax related topics. Indemnity insurance is mandatory for practising lawyers under Rule 3 of the Legal Profession (Professional Indemnity) Rules 2015. She is also a qualified Legal Executive in Hong Kong. Being a service provider myself, I know how hard it is to earn a living by providing professional service to clients. The firm also has offices in Bermuda, the British Virgin Islands, Guernsey, Hong Kong, Jersey, London, Mauritius, Seychelles, and Zurich. Found inside – Page 107... Legal System Key Risks Hong Kong Common law Goverment gives no guarantee that title is good and the Law Society has ... will be of value only if the lawyer is backed by adequate professional indemnity insurance , which is unlikely . Professional Indemnity Insurance. Note: For those who enroll after 1 Oct, the insurance coverage will still be ended at 30 September (of every year) with same premium as above. From the Council Table. Found inside – Page 69Hong Kong. Attorney General's Chambers. the Bar's Code of Conduct , which requires all practising barristers to ... should be required to take out adequate professional indemnity insurance cover against claims for negligence . There is thus a need to account for RFLs as qualified members of staff of a firm (as opposed to unqualified staff under the existing PIS contribution formula and calculations) so that their risk exposure to the PIS may be properly reflected in the PIS contributions and deductibles payable by their firms. Found inside – Page 4International practice involves increasingly practice within Europe and with lawyers in Hong Kong , Singapore and the us ... conflicts of interest ; professional indemnity insurance ; and a general requirement that each lawyer should ... In 2019, total office premiums for in-force long term business was HKD511.5 billion (a 10.8% increase). A meeting was held between the Law Society and the 5 of Schedule 1 to the PIS Rules) and to pursue each principal of the firm for reimbursement of any payment made by the Company to satisfy the claim against the firm, together with interest (under para.9 of Schedule 3 of the PIS Rules). The Law Society does not currently require RFLs, who apply for registration to be employed in a Hong Kong law firm to supply evidence of professional indemnity insurance pursuant to s. 6 of the Foreign Lawyers Registration Rules; on the basis that they are covered by the PIS. The law firm will help the self-employed solicitor to obtain their practising certificate and provide professional indemnity insurance coverage for the self-employed solicitor. Monday 8th November . It is governed by the Solicitors (Professional Indemnity) Rules (Cap. The Law Society Gazette September 16. She qualified as a solicitor in Hong Kong in 1993, and in England and Wales in 1994. In addition, Wong adopted an incorrect format for his report to the . Found inside – Page 889Insurance premiums are becoming annually shortly be seeing legislative proposals in the ubiquitous Crimi- stiffer , and cover ... is in the growth of legal Johannesburg , or Toronto , or Melbourne , or Hong Kong expenses insurance . B. Found inside – Page 652Specialisation : All aspects of property litiLondon Law Society Litigation Subgation work ... Admitted ings , breaches of covenant and associated Specialisation : Specialises in corporate as a solicitor in Hong Kong in 1986 , havaspects ... There is a concern that the existing retainers may contain limitation clauses that, on the basis of the current statutory PIS indemnity limit, cap a law firm’s liability to HK$10 million per claim. Partner - Insurance. It was incorporated in 1907 as a company limited by guarantee. Salient features of the changes include: (a) amending the definition of “Practice” (r. 2 of the PIS Rules) to clarify that the business of practising as a solicitor includes “the neutral in any form of alternative dispute resolution procedure; China-Appointed Attesting Officer; or civil celebrant…”; The Council has been conducting an on-going review of the scope and operation of the PIS and the PIS Rules, and has approved the following proposals in principle: A. Address: Room 1905, 19/F, Fortress tower, 250 King's Road, Hong Kong, Attn: Dr. Raymond Chow at (Tel: 2523 6350) or Ms. Alice Cheung (Tel: 2523 6072). Note: For those who enroll after 1 Oct, the insurance coverage will still be ended at 30 September (of every year) with same premium as above. One of the conditions is that the limitation of liability must not be below the minimum level of cover required by the PIS Rules. Hong Kong Event Insurance. RFLs are treated no differently to unqualified staff. Found inside – Page 440Cases include representing Society of Lloyd's in Central Fund recovery litigation , co - ordinating U.S. proceedings on ... Membership : Chairman of the Professional Indemnity Insurance Committee of the International Bar Association . Incisive, not afraid to tell it like it is.' 'RPC Hong Kong understand insurers' requirements to provide advice for complex matters in a clear and very user-friendly way.' English; Products Register . Found inside – Page 4031.14 Hong Kong became a Special Administrative Region of China on 1 July 1997 and English cases are still ... that he has one year's relevant professional experience in Hong Kong before the date of the application for registration. . professional indemnity insurance. Unless the Company takes over the conduct of the claim the claimant may go uncompensated. The Hong Kong Institute of CPAs evolved from the Hong Kong Society of .

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