Mandatory malpractice insurance coverage
While your status as an active member gives you rights, it also imposes certain obligations on you to protect the public. One of these obligations is participation in a group professional liability insurance plan. It is therefore now mandatory that every member send us a copy of their malpractice insurance policy annually, 2 weeks prior to their insurance renewal date. It is your responsibility to have adequate cover and to prove it.
We offers an excellent insurance product starting at just $200 per year. From now on, the broker La Turquoise is the exclusive broker of the professional liability insurance program. You can top up what's left of your current coverage, but you must switch to our insurance plan as soon as your current policy has expired.
Here are the protections offered for professional liability
1. Mandatory protection in our program :
- $1 000 000 protection for $200 + tx (depending on the province)
- $2 000 000s protection for $230 + tx (depending on the province)
2. The following protections are optional :
2.1 Corporate liability
- $1 000 000 protection for $80 + tx (depending on the province)
- $2 000 000s protection for $100 + tx (depending on the province)
2.2 Business property insurance
2.2.1 Option 1 – $75 + tx
- Content $15,000
- Operating loss $10,000 annually
- Crime $1,000 ***
2.2.2 Option 2 – $125 + tx
- Content $15,000
- Operating loss $20,000 annually
- Crime 1 000$ ***
*** the crime premium covers employee dishonesty (e.g. employee using petty cash), theft of money on the premises, theft of money off the premises (theft during a bank deposit).
2.3 Reimbursement protection for criminal defense costs
- Payment of defense costs up to $20,000 per claim with an annual maximum of $40,000 in the event of prosecution in penal or criminal court.
- Example: lawsuit for sexual abuse or touching. The insured must be declared not guilty for the insurer to reimburse his costs.
- The premium for this coverage is $54 + tx
Important: We have fees of $50 for premiums of $300 or less and $75 for premiums of $301 or more.
** If your members practice more than one alternative medicine activity and these are part of our program, we can then cover all the activities on a single contract.
The highest premium will apply and cover all of the insured’s activities.