Professional Liability Insurance
July 1, 2010 to July 1, 2011
We are pleased to announce that Marsh Canada Limited continues to be your appointed broker for the ADR Liability Insurance Program. The ADR Institute of Canada and Marsh have been working closely together to develop what can only be described as a new and improved insurance product for ADR members. As such, the insurance provider, effective July 1, 2010 continues to be Market Form, an underwriter at Lloyd’s of London.
PROFESSIONAL LIABILITY
Professional Liability insurance covers liability for damages arising from the rendering of or failure to render Alternative Dispute Resolution services.
To see the Marsh, ADR Canada 2010 Insurance Brochure, click here.
OPTION 1 |
OPTION 2 |
OPTION 3 |
$1,000,000 per claim limit |
$2,000,000 per claim limit |
$3,000,000 per claim limit |
$2,000,000 aggregate limit |
$4,000,000 aggregate limit |
$6,000,000 aggregate limit |
$1,000 deductible |
$1,000 deductible |
$1,000 deductible |
$113 annual cost |
$158 annual cost |
$223 annual cost |
or |
or |
or |
$1,000,000 per claim limit |
$2,000,000 per claim limit |
$3,000,000 per claim limit |
$2,000,000 aggregate limit |
$4,000,000 aggregate limit |
$6,000,000 aggregate limit |
$0 deductible |
$0 deductible |
$0 deductible |
$122 annual cost |
$167 annual cost |
$216 annual cost |
Also included in any of the options listed above are the following extensions of coverage:
COVERAGE |
DEFINITION |
SUB-LIMITS |
Legal Expense Reimbursement |
Offers reimbursement of legal expenses if a complaint is made against you and you are required to defend yourself in front of a disciplinary committee. |
$25,000 per claim |
Criminal Reimbursement |
Provides reimbursement for legal expenses incurred if you are brought into a suit for a criminal offense and were found not guilty. |
Actual Cost Incurred |
COMMERCIAL GENERAL LIABILITY
If you wish to complement your Professional Liability Insurance Policy with Commercial General Liability please see below. This covers liability for property damage and/or bodily injury arising out of your business operations.
Option 1 |
Option 2 |
Option 3 |
Option 4(New) |
Option 5(New) |
Limits: $1,000,000 per claim $1,000,000 per aggregate $500,000 Tenants Legal Liability $1,000,000 Standard Non-Owned Auto Deductible -$500 $162.00 Annual Cost |
Limits: $2,000,000 per claim $2,000,000 per aggregate $500,000 Tenants Legal Liability $1,000,000 Standard Non-Owned Auto Deductible -$500 $203.00 Annual Cost |
Limits: $3,000,000 per claim $3,000,000 per aggregate $500,000 Tenants Legal Liability $1,000,000 Standard Non-Owned Auto Deductible -$500 $243.00 Annual Cost |
Limits: $2,000,000 per claim $2,000,000 per aggregate $1,000,000 Tenants Legal Liability $2,000,000 Standard Non-Owned Auto Deductible -$500 $243.00 Annual Cost |
Limits: $3,000,000 per claim $3,000,000 per aggregate $1,000,000 Tenants Legal Liability $2,000,000 Standard Non-Owned Auto Deductible -$500 $292.00 Annual Cost |
For further information call:
Janet Lobo, Assistant Vice President Email: Janet.lobo@marsh.com
Tony Dandan, Client Representative Email: Tony.dandan@marsh.com
Marsh Canada Ltd.
70 University Avenue
Toronto, ON M5J 2M4
Tel: 416-349-3596 | 1-888-711-9010 | Fax: 416.349.4788
EXEMPTION FROM INSURANCE
As part of the requirements for the chartering designations, chartered members are required to provide proof of insurance in the amount of $1,000,000 per claim.
Please note that you are NOT required to provide proof of insurance if you are:
- conducting mediations or arbitrations for an organization that is your employer, or
- retired and not conducting any mediations or arbitrations.
To claim an exemption, please click here, complete the form and fax to the ADR Institute of Canada at 416-487-4429.
(c) If you are a member of a Law Society
Most Law Societies have indicated that the member should ask the Law Society to forward proof of coverage to the Institute and the Law Society will do so at no charge. For information about your provincial requirements please see the table below which we understand reflects the present status and forward the appropriate documentation to us.
Proof Required |
|||
Province |
Covers ADR? |
Certificate of Insurance |
Other |
Alberta |
Yes |
Yes |
|
British Columbia |
Yes |
Yes |
|
Manitoba |
Yes |
Yes |
|
New Brunswick |
Yes |
Yes |
|
Newfoundland/Labrador |
Yes |
Proof of being “practicing insured member” |
|
Nova Scotia |
Yes |
Yes |
|
Ontario |
Yes |
Declaration Page |
|
PEI |
Yes |
Yes |
|
Québec |
Yes |
Yes |
|
Saskatchewan |
Yes |
Yes |
|
(d) Professional Association Insurance Coverage
If you are a member of a professional organization you cannot assume that the insurance the organization has covers you as an ADR practitioner. In these situations we would ask that you provide us with the specific clause indicating that you are so covered. Your insurer can assist you in locating the appropriate wording in your insurance coverage.
Tail Coverage
In the first year following retirement, your premium will be 75% of your last premium paid. Any following year, it is 50%.
This insurance covers you for claims made against you after you have stopped practising. For more information please click here.
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