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LIV President's Blog
March 17, 2011

Limitation of Liability Scheme

The LIV will continue to encourage other law societies around the country to sign up for a national Limitation of Liability Scheme when we meet today in Canberra.

The LIV is leading (and assisting) other societies to approach their respective state AGs to adopt  uniform legislation for the Scheme across all States.

The LIV launched  a scheme last year which has been provided as a blueprint for all other States. A version has been used by Queensland, South Australia and is currently being considered by NSW and WA.

The benefit of the scheme is that it caps the liability of LIV members participating in the Scheme to a monetary ceiling, subject to the Scheme itself and the Act. An application to include incorporated legal practices (ILPs) within the scheme is currently underway, and we are discussing this issue with the Professional Standards Council.

We will be promoting the benefits of the scheme and the need for uniformity as well as talking about our experience with it at today’s Conference of Law Societies meeting. We currently have 2,872 members / 1116 firms signed up for the scheme.

Members may be aware that the scheme provides protection by limiting professional civil liability upon payment of $105 per legal practitioner within the firm and is only open to LIV members.

We are supporting a uniform national scheme to be consistent with the LIV’s position on national legal profession reforms.

Has your firm signed up? What do you think of the reform? Click on 'Comment' below to let us know.

Comments

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Sarah McPherson
The LIV invites practitioners with queries about the LIV Limitation of Liability Scheme to contact me as the Scheme Coordinator on 03 9607 9563 or at lls@liv.asn.au. I will be able to provide information about the interaction of the Scheme with professional indemnity insurance requirements, and also details of the benefits of participation in the Scheme.
21/03/2011 10:25:34 AM

David Denby
Dear Caroline,
I want to reiterate my opposition to this scheme. For as long as I can remember, LIV has vehemently opposed statutory limitation of common law rights (Accident Comp Act, Transport Accident Act, Wrongs Act etc). For us to now seek to limit our own liability is inconsistent, hypocritical and will destroy our credibility in opposing further encroachments on our clients' rights in the future.
Kind regards and keep up the good work,
David Denby
18/03/2011 1:07:56 PM

Neville Cousins
we have not signe up at this stage as we have been unable to obtain clear advice as to how this scheme dovetails with the exisiting LPLC Professional Indemnity Insurance scheme. Money is not the issue-it is understanding the benefits over and above the current insurance arrangements,
18/03/2011 12:42:38 PM

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