Buying a Practice
If you are acquiring an existing firm, you should ask to see the claims history of that firm.
This is because the claims experience and the premiums of the practice you are purchasing may be blended with that of your firm. The reason for this is that claims may emerge out of the acts and omissions which occured prior to your acquiring the practice. LPLC covers such claims as emerging from a prior practice. The LPLC will consider the other firm is a prior practice of your firm if your firm acquires the majority of files, principals, staff, assets or liabilities of a firm, or holds itself out as a successor to that firm.
Key contacts
Bernie Mallia
+61 3 9672 3800
bernie@lplc.com.au
Terri Twining
+61 3 9672 3800
terri@lplc.com.au