Why is professional insurance important?
Maintaining professional insurance provides piece-of-mind whether it be for your home, car, or for your professional work. Legal actions often come as a result of someone being harmed, either through bodily injury or damage to their property. Allegations my be frivolous; however you are still required to respond with a defence. Lawsuits often name anyone involved and/or connected to a particular situation regardless of how miniscule that involvement may be. Consider that the average hourly rate for a lawyer in Canada in 2013 was $362. Good advice for mounting a defence can be expensive, professional insurance coverage such as the products offered by the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie can help a great deal. The Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie highly recommends that professional insurance is kept up-to-date regardless of practice area. In Ontario the College of Kinesiologists of Ontario (CKO) requires that all Registered Kinesiologists maintain errors and omissions liability coverage. As of 2014, the minimum required coverage is $1M limit per occurrence with a $3M aggregate limit per year.
Is professional insurance coverage valuable protection?
Canada is becoming more litigious. In Canada, the value of court settlements has risen sharply in recent years. Increasingly, people are showing a willingness to turn to the courts and/or regulatory bodies when they believe that the services they received were substandard. The fact is, even if a professional is not at fault, defending against a legal action can be very expensive, threatening personal financial security. Errors and Omissions insurance provides some measure of protection helping to cover legal defence costs and damages that may be awarded.
What is covered?
The Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie professional errors and omissions insurance policy covers the full-scope of kinesiology services including those outlined by regulatory bodies like the College of Kinesiologists of Ontario. The policy also extends to coverage to the following types of healthcare services: Sports therapy, massage therapy, physiotherapy, homeopathy, osteopathy, and psychotherapy. The policy requires that the fees earned for these additional services are less than $5,000 per patient and less than $25,000 for all patients during any one (1) policy year.
Not all professional insurance policies are equal. The Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie spends a lot of time ensuring that it can offer industry leading products and services.
I have Errors and Omissions Insurance but do I need Commercial General Liability (CGL) Insurance?
You are not required to hold commercial general liability insurance (CGL) in any jurisdiction in Canada, including Ontario. However, the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie suggests that consider purchasing this important product in order to avoid any possible gaps in insurance coverage. Commercial general liability insurance offered by the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie helps to protect in the event that you are involved in a legal action by a third-party who sustained a bodily injury or property damage unrelated to professional advice that may have been given. Errors and Omissions (E & O) insurance helps to protect you for bodily injury claims sustained by a patient as a possible result of the professional advice and services given. CGL is important if any one of the following applies to you:
1. You own or leasing your own clinic location;
2. You provide advice and services in a clinic location that is not operated by you; or,
3. You provide services to patients from your home.
In order to purchase the Commercial General Liability insurance products offered by the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie you must have purchased one or our Errors and Omissions (E & O) products.
What happens if I receive a statement of claim?
Working with our insurance industry experts, the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie is here to help! If you receive a statement of claim or threatening comments from a client do not admit to any liability or fault to anyone but contact us immediately at email@example.com.
I'm no longer practicing do I still have protection?
Legal action can take place months and years after advice and/or service is provided to a client. Perhaps even after you are no longer in practice. The industry-leading professional errors and omissions (E & O) insurance products provide purchasers with up to five (5) years of coverage after you stop practicing. This feature of the policies provided by the Canadian Kinesiology Alliance-Alliance canadienne de kinesiologie is known as extended reporting period coverage. Many policies do not offer this feature. Indeed, other providers may well add additional fees if extended reporting period coverage is requested.
Download the Insurance Program Brochure.