Today's horrifying discovery about the US having clownishly low legal minimum requirements for insurance:
Most states don't require lawyers or law firms to have malpractice insurance whatsoever.
Like, honestly, with all due respect, what the actual fuck? Why are you letting lawyers risk putting clients in a situation where even the lawyer themself can't compensate a client for a loss caused by the lawyer's own negligence or incompetence?
- For professional liability (errors and omissions): CAD$1,000,000 per error and CAD$2,000,000 per lawyer annually
- For trust protection (literally stealing trust money from clients): CAD$300,000 per affected client, up to a province-wide maximum of CAD$17,500,000 annually
- For trust shortage liability (lawyers getting scammed out of clients' trust money): CAD$500,000 per claim, or per lawyer, or per firm annually, up to a province-wide maximum of CAD$2,000,000 annually
