Practitioners will see significant cuts to their professional indemnity insurance rates in 2026/27, with the Queensland Law Society Council approving levy reductions of at least 15 per cent across all base levy bands.
The April decision follows another year of strong performance by the insurance scheme, managed by QLS in conjunction with Lexon Insurance (Lexon).
Lexon CEO Michael Young said the improved financial position was in large part due to the profession’s risk management focus which had resulted in claims costs remaining at low levels for yet another year. This enabled meaningful savings to be passed directly back to the profession.
In addition to the substantial rate reductions, Mr Young confirmed that all major scheme innovations introduced in recent years will remain in place for 2026/27.
These include:
- A 7.5 per cent No Claims Discount, benefiting more than 93 per cent of eligible practices;
- Relaxed claims loading thresholds, with loadings now only applied when a practice’s loss ratio exceeds 100 per cent – up from the previous 60 per cent. Any annual loading is also capped at 4 per cent of expected claim cost;
- The reduced excess structure introduced last year.
The 15 per cent EMR discount (subject to a $1000 minimum and $40,000 maximum) also remains a core feature of the levy model, with more than 55 per cent of practices currently participating.
Practices seeking additional protection beyond the standard $2 million per‑claim limit can again access optional top-up insurance through Lexon.
Applications can be made via the QLS renewals portal.
QLS and Lexon have at the same time reaffirmed their commitment to maintaining broad and favourable policy terms, including:
- $2 million per claim in most cases;
- Unlimited number of claims;
- Innocent party protection;
- Free run‑off cover.
These features remain central to the scheme’s intent of providing comprehensive, reliable protection for Queensland practitioners.
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