About Law Mutual?
Law Mutual (WA) is the unincorporated association or body of persons who contribute to the Law Mutual Fund for the purpose of obtaining professional indemnity insurance and which is:
- provided with administrative services by the Society as trustee of the Law Mutual Fund under the business name “Law Mutual (WA)”;
- by the relevant sections of the Legal Profession Uniform Law Application Act 2022 (WA) (the Act) and under the name “Law Mutual (WA)”, continued as an entity under that Act; and
- a company within the definition of that term in s 995-1 of the Income Tax Assessment Act 1997 (Cth).
Under the Act, the Law Society of Western Australia is required to make professional indemnity insurance arrangements for practitioners and former practitioners (the PII arrangement).
The Law Society is not licensed under the Corporations Act in relation to the operation of the PII arrangement and it is not regulated under the Insurance Act 1973.
Professional Indemnity Insurance Management Committee
Pursuant to Part 7 Division 5 of the Act, the Law Society established the Professional Indemnity Insurance Management Committee (PIIMC). It is comprised of at least seven members, including at least one person with insurance industry experience and at least two persons with insurance experience or financial expertise.
The Council has delegated some of its powers to the PIIMC to assist it in the efficient running of Law Mutual (WA). The PIIMC reports to the Council of the Law Society.