Why NEO carries professional liability insurance

Professional liability insurance (sometimes called errors and omissions insurance) protects clients if a legal professional makes a mistake that causes them a financial loss. In Ontario, the Law Society requires licensed paralegals who provide legal services to carry it.

What it covers

Coverage responds to claims that a paralegal's professional services fell below the required standard, for example a missed limitation period. The details of any claim depend on the policy's terms.

Why it matters to you

• It is one of the protections that comes with hiring a licensed professional rather than an unlicensed agent or consultant.
• It sits alongside the Law Society's other protections: a complaints process and a compensation fund for certain losses caused by a licensee's dishonesty.

How NEO avoids the mistakes it insures against

• Deadlines for each matter are tracked in our system, with reminders before every hearing.
• Each matter starts with a conflict check and a written retainer setting out what we will do.
• Documents and communications are kept in one file, so nothing is lost between steps.

Read about NEO and the Law Society of Ontario.

Read next: NEO is led by an LSO-licensed paralegal

Photos from Pexels: A desk with a laptop, a plant and a contract · Working on documents and a laptop.

This article is general information for people in Ontario, not legal advice. Rules, forms and deadlines change, and every situation is different. Check the current rule or speak to a licensed legal professional before you act.