Annual Report 2011/2012 Professional Standards Councils
Tabled paper 112
Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT
2012-11-01
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Tabled papers
Professional Standards Council
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https://www.legislation.gov.au/Details/C2019C01520
https://hdl.handle.net/10070/273264
https://hdl.handle.net/10070/427064
56 Professional Standards Councils Annual Report 2011-12 A u S tR A li A n C A P it A l te R R it o R y | n e w S o u th w A le S | n o R th e R n t e R R it o R y | Q u e e n S lA n d | S o u th A u S tR A li A | t A S m A n iA | V iC to R iA | w e S te R n A u S tR A li A Complaints data In Victoria, the Legal Services Commission investigates complaints against legal practitioners. Consistent with previous years, the top five areas of law that featured as new complaints were family or de facto (22 per cent), conveyancing (12 per cent), probate and estate (10 per cent) and commercial (nine per cent). Trends in professional indemnity insurance In Victoria, the Legal Practitioners Liability Committee (LPLC) is the professional indemnity insurer which also supplies the information. The last financial year was characterised by a very low number of claims and notifications relative to the 25-year life of the scheme; however, the total cost of claims finished somewhat higher than in previous years. During the reporting period, 405 claims and notifications were received, with an estimated cost of $36 million. Approximately 80 per cent of the cost of claims over the years originates from four areas of practice: property and conveyancing, mortgage, commercial and commercial litigation. monitoring of claims and insurance Now with a full year in operation, LIV is continuing to liaise with the LPLC in order to monitor the performance of members. Their objectives are to ensure adequate professional indemnity coverage for membership and to determine from claims statistics where the main areas of claims lie so as to create a feedback loop that is, the development of education programs based on claims data provided by the LPLC. Disclosure of limited liability and use of Cover of excellence trademark The LIV was pleased to announce an excellent compliance result of 99.4 per cent compliance from all respondents in regard to the appropriate use of disclosure statement, Cover of Excellence trademark and level of insurance and business needs. This is an increase of 6.4 per cent on the last reporting period, being 93 per cent.