faq's professional liability insurance
Who do I contact to obtain professional liability insurance?
The broker hired by the Professional Liability Insurance Committee (PLIC) can get the information to you: contact our Gallagher Canada representatives:
Mark Sampson (email@example.com or 905-948-2631) or
Laura Stewart (firstname.lastname@example.org or 905-752-8745).
What makes the PSC program better than other professional liability insurance?
The PSC program has several unique features that make it superior to other programs:
- The PLIC works with our insurance broker (Gallagher) and the insurer (Victor) to manage the program and represents the surveyor’s interests during the adjusting of a claim.
- A split deductible – the insurer matches the surveyor dollar for dollar in indemnity costs until the deductible is reached; then the insurer pays 100%.
- Defence and expense costs are “in addition” to the policy limit and are not subject to the deductible – 100% covered.
- Retirement or Sale of Business Coverage – after you purchase at least a one-year runoff policy, you and your estate qualify for a $500,000 per claim retirement policy at no additional cost. Read this article for more information about this significant benefit that is exclusive to the PSC Insurance Program.
- Specialized Claims Service – the PSC Program has developed a national claims service team that specializes in representing and defending land surveyor claims.
Is retirement coverage automatic when I retire?
No. You must apply and purchase at least a one-year runoff policy. After the runoff period, there is no annual renewal required and coverage is at no cost.
How long must I be in the PSC program to get the retirement coverage?
You must be in the program for at least the five consecutive years prior to your retirement to be eligible.
If I move from one firm to another, am I covered for work I did at the previous firm?
Yes, the PSC Professional Liability Program covers all prior employees for work they did while employed by the firm.
What if my previous firm ceases to exist?
If your firm was insured with the PSC Professional Liability Program and they obtained the Retirement/Sale of Business coverage, then you would be covered for work you did while employed by that firm. There is also the ability to purchase an individual retirement policy that will be in your name only. Please see this article and contact our broker.
What do I do if I have made an error or if any allegation of liability is made against me?
First, do not admit liability. Tell your client that you will investigate. Second, report the incident to the insurer at email@example.com. They will contact you to review the details and advise you how to proceed. Even if you are unsure if the error will result in a claim or if you think it is not your fault, you should report it to ensure that you do not jeopardize your coverage.
Will a claim affect my future premiums?
If your claims are small and infrequent, your premium will not be affected. Incidents not resulting in actual claims will not affect your premium. Large or frequent claims may impact your premium.