It was incorporated in 1907 as a company limited by guarantee. Found inside – Page 337the decisions of the Court of Appeal of Hong Kong given in favour of the insured Lo & Lo , a firm of solicitors and ... the same question as to the meaning of the words “ any one claim " in a policy of professional indemnity insurance . The Companyâs remedy for the law firmâs failure to pay its contribution is to rely on its power to charge interest on overdue contributions (pursuant to para. The Historical Laws of Hong Kong Online is a full-text image database providing access to past revised editions of Hong Kong Laws. 'Antony Sassi is the pre-eminent professional indemnity and D&O coverage counsel in Hong Kong. Angela Yim is considered a "very good name" in the insurance space. Some law firms in Hong Kong do provide solicitors with the option of being self-employed; providing their services on a freelance basis. She joined Richards Butler in 1991 as a trainee solicitor. 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. Professional Indemnity insurance in Australia is available for a wide range of businesses that provide specialised or expert advice for a fee. About the Law Society. 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 ... Professional Indemnity Scheme. I am a specialist in insurance-related dispute resolution and advisory work, with a particular focus on professional indemnity and financial lines matters. The Law Society's Compulsory Professional Indemnity Insurance Pursuant to section 75A of the Legal Profession Act ("LPA") the Law Society's Compulsory Professional Indemnity Insurance (the "Scheme") was introduced in April 1991 to ensure every practising lawyer has minimum insurance coverage. The Professional Indemnity Scheme (âPISâ) has been the professional indemnity provider of law firms in Hong Kong for nearly 30 years. All partners based in Beijing are solicitors of Hong Kong and England and Wales, and as such are regulated by The Law Society of Hong Kong and the Solicitors Regulation Authority. 2 Sessions - Online - Hong Kong. 9 minute read. Professional Indemnity Insurance. The firm also has offices in Bermuda, the British Virgin Islands, Guernsey, Hong Kong, Jersey, London, Mauritius, Seychelles, and Zurich. This includes "establishment" in Ireland and indemnity insurance issued within the country, the report claims. The Law Society of Hong Kong ("the Law Society") announced to its member in a circular on 11 December 2017 that the Solicitors' Hourly Rates (SHR) on party and party taxation in civil proceedings will be increased, effective from 1 January 2018 onwards. Otherwise, the Hong Kong Bar Association and the Law Society of Hong Kong impose few barriers on pro bono work for Hong Kong lawyers. 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 . A CTA (practising or non-practising) is required, during a year, to attend recognised activities (such as seminars and workshops etc.) 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. Being a service provider myself, I know how hard it is to earn a living by providing professional service to clients. There are no mandatory requirements on lawyers to It is governed by the Solicitors (Professional Indemnity) Rules (Cap. 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. . 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 . Most important of all, I know about the risk we all face. Hong Kong. Are lawyers required by such rules to work a minimum number of pro bono hours? Discover. Bylined article by Head of Insurance in London Will Glassey on the benefits of professional indemnity insurance. 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. Secretary-General, Law Society of Hong Kong, Amendments to the Solicitors (Professional Indemnity) Rules, Intricacies of a Borderless World – Part IV. Found inside – Page 342The Law Society issued a sharp criticism of the proposals {The Law Society of Hong Kong 1.93.9} and in due course ... a fit and proper person to be regisreredr and be covered by a professional indemnity insurance. ills regartls firms, ... Key Findings of Joint Inspection by Hong Kong Regulators on Using Premium Financing for Purchasing Long Term Insurance . Discover. 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). May 2018 - Present3 years 7 months. Discover 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 ... Leg. 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 Academy is the professional society and accrediting body for expert witnesses of all disciplines. (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). Found inside – Page 87Law Reform Commission of Hong Kong. partnership must furnish the Insurance ... 7.13 We recommend that all insurance brokers be required to arrange and maintain professional professional indemnity insurance . We further recommend that ... 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. 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. The Law Society’s Practice Direction M sets out the advisory guidelines for solicitors to limit their liability for non-contentious business subject to certain conditions. 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. The terms and conditions of the PIS are set out in the Solicitors (Professional Indemnity) Rules (Cap. The Solicitors (Professional Indemnity) (Amendment) Rules 2016 and Solicitorsâ (Practice) (Amendment) Rules 2016 (together âAmendment Rulesâ) were gazetted on 25 November 2016. The Law Society of . Found insideHe was president of the British Insurance Law Association from 2000 to 2002. ... He has recently been appointed a Council Member of the International Institute of Experts (Hong Kong) and an Advisory Editor of the Hong Kong White Book. This may result in cost savings as the current PIS Rules only make reference to a Senior Counsel; The Professional Indemnity Scheme (the Scheme) From the Council Table. 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. The Professional Indemnity Scheme (âPISâ) provides compulsory professional indemnity to Hong Kong law firms against losses arising from civil liability incurred in connection with their practices. Found inside – Page 384Cases include both ICC and ad hoc arbitrations in the fields of insurance , reinsurance , construction and ... English Private International Products Liability Professional Indemnity Professional Liability Property Public Liability Real ... Member of the Professional Indemnity Advisory of Law Society (1999 - ) Member of the Land Use Planning & Environmental Law Committee of Law Society (2004 - ) Chairman/Director of UCL Hong Kong Club Ltd (2000 - ) Governor of the UCL Scholarship Hong Kong Foundation Ltd (2010 - ) Founding Member of the Hong Kong Korea Business Council Professional Indemnity Insurance. 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. PIS Indemnity Limit. Improving the coverage of the PIS by: (i) narrowing the âprincipal fraud / dishonestyâ exclusion (ie, para. For law firms and sole practitioners alike, it is critical that the limit of cover offered under your Professional Indemnity insurance policy is adequate for your business. International wholesale markets - London, Asia, and Lloyd's Syndicate. RFLs are required under the Foreign Lawyers Registration Rules to maintain a policy of insurance which provides indemnity, in respect of services rendered by him/her while practising as a foreign lawyer, in a manner and to the extent similar to the indemnity provided to a solicitor under the PIS. 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. These were typically traditional construct-only fixed priced lump sum contracts. Asha has been a partner of Reed Smith Richards Butler since 1999. Your work is vital, so protect your career and reputation with the world's leading medical protection organisation. Our Professional Indemnity Insurance Committee monitors and investigates issues around solicitors' indemnity insurance. 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 ... 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 . 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. As well as picking up an increased flow of work from the . January 1990. (1) Compulsory professional indemnity insurance for solicitors was introduced by the Law Society of Hong Kong ("Law Society") in 1980. Found inside – Page 1029... agencies CO 03/1094: Law societies — professional indemnity scheme and fidelity funds CO 03/1095: Law societies ... CO 03/1103: Hong Kong SFC regulated financial service providers CO 04/239: Factoring arrangements — licensing, ... The Law Society of Hong Kong will accept an unqualified Gross Fee Income Report under Rule 8 of the Solicitors (Professional Indemnity) Rules. The Amendment Rules aim to improve the clarity of the PIS Rules, enhance the operation of the PIS and provide better protection to the public. 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). 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. Thank you. 159, Sub. 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. It was incorporated in 1907 as a company limited by guarantee. 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. The Board is also considering other proposals to improve the coverage of the PIS, preferably at no additional cost to members. One of the conditions is that the limitation of liability must not be below the minimum level of cover required by the PIS Rules. The Law Society's Compulsory Professional Indemnity Insurance Pursuant to section 75A of the Legal Profession Act ("LPA") the Law Society's Compulsory Professional Indemnity Insurance (the "Scheme") was introduced in April 1991 to ensure every practising lawyer has minimum insurance coverage. The Law Society operates a PII helpline Monday to Friday, 10am to 4pm to assist firms in dealing with the professional indemnity insurance queries. 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 ... 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. We endeavour to keep the PIS under continuous review to assist our members in overcoming challenges they may face when running their practices. The helpline can be contacted by phoning 01 879 8707 or emailing piihelpline@lawsociety.ie . 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. She is especially skilled in handling high-profile personal injury and employees' compensation claims and she frequently acts for major insurers. 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. including discounted training, free attendance at most TAE events, preferential rates for Professional Indemnity insurance, newsletters and documentary resources to support practice. 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. 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. English; Australia. Increasing the limit of indemnity under the PIS from the existing HK$10 million per claim to HK$20 million per claim with no change to the PIS contribution calculation formula. 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. With the current Laws of Hong Kong available on the web, the Historical Laws of Hong Kong Online database rightly . It was incorporated in 1907 as a company limited by guarantee. Circulars to members will be issued on the above amendments after negative vetting by LegCo. The professional indemnity insurance Found inside – Page 120At law the remedy upon a contract of indemnity is to sue for damages for breach of the contract , and there is no breach ... 39 Re Law Guarantee Trust and Accident Society Ltd , Liverpool Mortgage Insurance Company's Case ( 1914 ) 2 Ch ... 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. 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. 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). From the Council Table. (ii) providing indemnity for costs incurred in responding to or defending: (a) an investigation or inquiry (except for any disciplinary proceedings by or under the authority of the Law Society) by law enforcement agencies; and 10,780 licensed technical representatives (broker). professional indemnity insurance cover in accordance with the minimum requirements for insurance brokers. The increase of the PIS indemnity limit to HK$20 million per claim will indirectly increase the level of indemnity required of foreign lawyers and foreign law firms and provide better protection to the public. What are the requirements for joining? Indemnity insurance is mandatory for practising lawyers under Rule 3 of the Legal Profession (Professional Indemnity) Rules 2015. The RPLU Program is recommended for all professionals active in the field of professional liability. They may range from conveyancing transactions in the PRC to large scale overseas listing of companies in the US. The Government does not maintain statistical data in relation to lawyers' professional misconduct in Hong Kong. Under the corporate practices (professional indemnity) rules, each corporate practice shall have a valid and binding contract of professional indemnity insurance under the professional indemnity insurance master policy of the Institute and any additional binding contract of professional indemnity insurance required to ensure compliance with the minimum . Any comments on the above or any other suggestions on the PIS can be directed to adpis@hklawsoc.org.hk. 7. Salient features of the changes include: (a) amending the definition of âPracticeâ (r. 2 of the PIS Rules) to clarify that the business of practising as a solicitor includes âthe neutral in any form of alternative dispute resolution procedure; China-Appointed Attesting Officer; or civil celebrantâ¦â; Deemster Doyle, the Isle of Man's most senior judge, sitting as Visitor to the society, declined Appleby's bid to overturn the society's decision, made in May 2013, in which it refused a waiver on the .
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