Legal Practitioners' Liability Committee 2025-26 annual report
Summary
The report's own summary: From the Chair, page 5
Generated summary: written by an AI model from the report text and checked against the cited pages.
In its 2025–2026 report, the Legal Practitioners’ Liability Committee describes its professional indemnity insurance and risk prevention role for solicitors and barristers.
annual report, page 3 · annual report, page 5 · annual report, page 6
The LPLC reported insuring more than 26,400 practitioners and finalising 634 claims and notifications during the year.
It reported beginning its 2026–2028 strategy, including improvements to business processes, systems and the client renewal portal.
The LPLC reported keeping premiums stable and earning an investment return of 6.01 per cent.
In the body's own words
- Conclusion
At the end of 2025–2026, the LPLC insured more than 26,400 practitioners (solicitors and barristers), reinforcing the importance of being a specialised insurer that practitioners can rely on when they need it most.
Finances 4
Total Income
$84,262,133
Printed as
Total Income 84,262,133 83,932,687
Total expenses incurred in delivery of services
$53,393,396
Printed as
Total expenses incurred in delivery of services 53,393,396 74,910,121
Employee benefit expenses
$7,055,204
Printed as
Employee benefit expenses 3.1.1 7,055,204 5,435,622
Net result for the year
$36,940,184
Printed as
Net result for the year 36,940,184 36,940,184
Staff 2
Total
38.13 FTE
Printed as
Total 40 38.13 28 26.6
Total
40 people
Printed as
Total 40 38.13 28 26.6
Executives and remuneration 3
Total number of executives
14
Printed as
Total number of executives 14 15
Total remuneration
$2,307,027
Printed as
Total remuneration 2,307,027 2,114,264
Total compensation(a)
$2,307,027
Printed as
Total compensation(a) 2,307,027 1,340,343
Consultancies 2
total consultant expenditure
$417,848
Printed as
During 2025–2026 total consultant expenditure as defined by the Financial Management Act 1994 (Vic) was approximately $417,848
Finity Consulting Pty Ltd
$88,983
Printed as
During the reporting year, Finity Consulting was engaged to provide pricing advice and other ad hoc actuarial consulting services. Expenditure for the reporting period was $88,983.
About the document
- Edition
- Current edition
- Reading status
- Read by OPAX
- Pages
- 93
- Figures not found in the report
- Executive band; Head remuneration; Named remuneration