Core Viewpoint - The recent announcement by the Beijing Lawyers Association regarding the status of professional liability insurance for lawyers has sparked significant discussion, highlighting the challenges faced in securing insurance coverage due to high risks associated with the profession [1][3]. Group 1: Insurance Renewal Issues - The Beijing Lawyers Association reported that the China Pacific Property Insurance Co., Ltd. Beijing Branch (referred to as "Taibao Property Insurance North") declined to renew the professional liability insurance contract, leading to a new bidding process for coverage [3][4]. - The insurance premium for the current policy is 5 million yuan per year, with a compensation limit of 6 million yuan per incident and a total limit of 15 million yuan per lawyer, amounting to a cumulative limit of 400 million yuan [3][4]. Group 2: Diverging Perspectives - Taibao Property Insurance North stated that there were disagreements over renewal conditions, which prevented the parties from reaching an agreement, contradicting the Beijing Lawyers Association's claims of a three-year service period [4][5]. - The insurance company emphasized that it maintained communication with the association but could not find common ground on the renewal terms [5]. Group 3: Nature of Professional Liability Insurance - Professional liability insurance for lawyers covers damages resulting from negligence or errors during legal services, providing a legal basis for claims against lawyers [6][7]. - Although not mandatory, this insurance is crucial for risk management within the legal profession, as it helps transfer liability risks associated with legal practice [6][7]. Group 4: Emerging Risks - The refusal to renew the insurance contract reflects a broader trend of increasing risks in the legal profession, with a notable rise in complaints and claims against lawyers, particularly in civil and commercial cases [8][9]. - The revision of the Securities Law has also increased the likelihood of claims from investors, particularly in regions with a high concentration of securities law firms, leading to heightened risk exposure for insurers [9]. Group 5: Need for Refined Pricing Mechanisms - The current insurance model, which pools risks across all lawyers, fails to account for the varying risk levels associated with different legal practices, particularly in high-risk areas like securities law [10][11]. - A proposed solution includes implementing a tiered insurance model that differentiates premiums based on the risk level of legal services, allowing for better risk management and protection for all lawyers [11].
北京律协律师职业责任险续保遭拒，险企缘何放弃500万“生意”