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Professional Liability Insurance

Who needs this coverage?

• Professional Misconduct allegations require legal representation usually not covered by employers.
• Legal costs in the successful defense of a criminal action are usually not recoverable from the employer.
• Professional advice given outside the scope of employment (i.e. at a social setting) may not be covered by employer’s professional liability policy.
• Scope and limit of coverage available through an Employer’s policy is variable and uncertain
• Independent practitioners (self-employed) are not protected by any corporate policy and need to secure their own coverage.

Coverage Highlights

• Broad professional services definition to cover work performed in a hospital setting or community practice.

Those services rendered by the Insured, while acting within the scope of the Insured's duties as a pharmacist, including but not limited to public speaking, task force and committees, development of position papers, community practice, consulting, medication counselling, prescribing authority.

• Claims made policy.
• Disciplinary Hearing Limit and Criminal Defence cost reimbursement (if found not guilty) inclusive: $50,000 per occurrence, $100,000 annual aggregate.
• Broad definition of Insured including any present or former employee of Named Practitioner or student acting under direct supervision (during the policy period).
• Extended Reporting Period available for up to 3 years for future claims reported after retirement or policy non-renewal.
  

Policy Term July 1st - June 30th