The Queensland Law Society will splash out $9 million in order to “keep the doors open” for the state’s more than 2800 practices and its 13,000 solicitors during the global coronavirus pandemic. Reports Lawyers Weekly..
The Sunshine State’s legal member association, QLS, has agreed on a multi-faceted support package to deliver subsidies of 26 per cent to the annual cost of practising certificates, 50 per cent in fees for Society’s full members and a 20 per cent subsidy in professional indemnity insurance premiums.
QLS president Luke Murphy said that the Society and its council had “carefully considered” how to help legal professionals and members in response to the unprecedented financial and social impacts of the on-going global COVID-19 emergency.
“Law firms like other small businesses are suffering with the COVID-19 restrictions and this package is about helping to keep law firm doors open and keeping lawyers, support staff and their suppliers in business,’’ he said.
“QLS is aware of the serious concerns many in the profession have regarding the cost of doing business including practising certificates, membership and insurance costs. As a result, the Society has focussed its substantial support package on reducing the compulsory costs of practice by providing a subsidy to practising certificate fees and professional indemnity insurance levies for the 20/21 renewals period.”
“We have additionally halved the price of full membership to QLS, which grants access to significant benefits and critical protections to its members.’’
The package will see $1.8m provided for the 26 per cent subsidy for practising certificate costs (a cost saving of $262.70 a year for principals and $131.35 for solicitor employees), $2.2m to cover the subsidy in annual membership fees ($252.50 saving for full members), and $5m released from the QLS Law Claims Levy Fund to cover the 20 per cent subsidy on professional indemnity insurance levies.
Moreover, Mr Murphy added, QLS will provide its full members with at least 10 free CPD points, access to employment law advice for certain individual solicitors and small firms, access to the QLS general managers support service and also free full membership for QLS to any practitioner who is stood down or made redundant between 1 March 2020 and 30 June 2020 due to ramifications of COVID-19.
The package from QLS follows reports from Lawyers Weekly that the Law Society of NSW had dropped its membership fees by over 90 per cent to just $10 and that the Bar Association of QLD had reduced member fees by 30 per cent.
