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regional wrap-up tHe WeSt Insurance levies going up for Alberta lawyers unprecedented. People and businesses prospered, but when the global econom- F rom 2005 to 2008, Alberta experi- enced a boom like no other. The frenzied pace of the economy was ic collapse hit Alberta in the fall of 2008, a lot of dreams collapsed with it. "Since 2008, the Law Society of Alberta has seen increased numbers and severity of real estate claims related to Subscription Special Summer Get 2 years (22 issues) of information-packed G SAVE 25% issues for only $78.75 By subscribing to 2 years of Canadian Lawyer before August 31, you'll save $26.25 off the cover price! Along with 22 issues packed with insights, trends and analysis, you'll also receive access to Canadian Lawyer's exclusive digital editions and Canadian Legal Newswire, a weekly e-newsletter edited by the same experienced team that creates Canadian Lawyer. This offer expires August 31, 2010 Subscribe online using promo code: CL-Summer Special Promo www.canadianlawyermag.com 10 A UGUST 2010 www. C ANADIAN Law ye rmag.com ub-ad_IH_July_10.indd 1 7/6/10 4:02:30 PM the economic collapse. Although the types of claims are confidential, in 2007 there were only approximately 150 open claims, whereas in 2008 and 2009 there were approximately 350 open claims," says LSA president Rod Jerke. This increase and severity of real estate claims has had a direct impact on the levy. Starting with the 2010-11 year, the Alberta Lawyers Insurance Association will set the levy at $2,900 plus GST. Due to the complexities built into its calcula- tion, including the effect of investment returns and Canadian Lawyers Insurance Association premiums, many factors have had an impact both in the form of decreases and increases in the past several years. The levy for 2006-07 was $2,241; for 2007-08 it was $1,900; $1,800 for 2008-09; and $2,600 for 2009-10. In 2007-08 and 2008-09, the levy was heav- ily subsidized by ALIA's large surplus. Jerke says there's a two-fold reason why the levy is increasing. "The primary reason is due to an increased number of claims particularly in the area of real estate claims as well as an increase in the number of large losses." Most of the levy amount consists of an actuarial calculation of the funds neces- sary to cover potential future claims, which ALIA anticipates will rise for the next two to three years. ALIA only had some recovery on investments but not to the point where the levy can be subsid- ized as much as in the previous year. — DIANE L.M. COOK dianecook@shaw.ca Pick of the crop: top 10 boutiques in IP & litigation • Free money, bad politics March 2010 $7.00 $7.00 Top 10 Quebec regional firms • The muddy waters of AC TA • Counsels of perfection July 2010 $7.00 high-profile example of how greed can override good sense and the law (not to mention prrofesofessional conduct rules) but a number of la highhigh--pgh pro ile go good corrpo CL_Mar_10.indd 1 StanStank Ganko Grmovsek and Gil Cornblum's insider-trinsider-t ading scheme was a rare but xa in ood sens p o ssiona It's been up and running for four years, but the jury is still out on how independent Canada's new Public Prosecution Service really is and if it has the resources to put into motion Stephen Harper's tough-on-crime laws. PUBLIC LAW co po ateorra me som some by d Brian Saunders, director of public prosecutions, along with his two deputy directors Chantal Proulx and George Dolhai. corporate lawyers have landed in hot water, some by design, others simply by folly. 6/22/10 11:06:50 AM