The industry body, which Mr Corcoran has served since 2013, appointed him to the position earlier this week.
Mr Corcoran has a long history of involvement in professional associations for lawyers and has received a Centenary Medal for services to Australian society and to the law.
He was president of the Law Institute of Victoria from 2001 to 2002 and president of the Law Council of Australia in 2009.
Mr Corcoran was also a member of the Legal Services Board from 2005 to 2010 and again in 2013, and was a board member of the International Bar Association between 2009 and 2012. He is currently a board member of Mercy Health and Aged Care.
“The LPLC is a vital organisation for lawyers in Victoria and throughout Australia,” Mr Corcoran said.
“It is a world leader in the area of professional indemnity insurance, expertly managed and with a clear focus. It strives to provide the best outcome for consumers of legal services and the profession.”
The LPLC is a statutory authority providing professional indemnity insurance to Victorian legal practices and a number of national law firms.