Policy Highlights

Coverage for a broad range of professional classes of business

· Definition of professional services tailored to each risk
· Insurer has the "duty to defend"
· Definition of claim includes monetary damages, services, non-monetary relief and injunctive relief
· Definition of insured includes:

• director, officer, partner, shareholder and employee
• employees include part-time, seasonal, leased and temporary employee as well as volunteers

· Broad definition of subsidiary includes majority controlled corporations, partnerships, limited liability companies and joint ventures
· Innocent insureds coverage
· Worldwide coverage, with claims brought in Canada or the USA
· Claims made and reported policy form
· Continuous claims made professional liability coverage
· 60 day claims reporting window upon the expiration of the policy
· Narrow "for" language used in our BI/PD exclusion and fiduciary liability exclusion
· Discovery period terms established at the beginning of the policy period
· 60 days notice of cancellation / 20 days in the event of non-payment of premium
· Favourable subrogation provision includes limit of liability reinstatement
· Spousal and domestic partner liability extension is included
· Policy is written on a "pay on behalf of" basis and not on a "reimbursement" basis
· Bi-Lateral Discovery Period Extension
· Multi-Year Policy options are available

· As your specialist broker we work with many insurers using one application form in most cases