Professional Liability Insurance through the OACYC

Since September, 1997, the OACYC has offered Professional Liability Insurance (sometimes referred to as "Errors and Omissions" Insurance, or "Malpractice Insurance") -- the first such insurance specifically for CYCs!  It is available to any CYC across Canada who becomes a Full Member of the OACYC.  Because this is a group policy (under the OACYC), we can offer it at a minimal cost.  The basic features of this policy are:

$ 1 million coverage per claim per year (for each OACYC member applying)

The insurer pays all costs they incur in defending you (legal fees, etc.) and "all reasonable expenses incurred by the insured [you]."
This includes payment of "actual loss of earnings up to $100 a day because of time off from work."
"The payments will not reduce the limits of insurance." (i.e., you are covered for the $1 million plus all costs related to it)

For example, if you had 3 claims, no one claim can exceed $1 million, and all 3 cannot exceed $2 million)

This includes the Annual premium of $420 + PST = $ 453.60, plus a $ 10 processing fee.
The policy period begins October 1, 2006.  If members apply after December 31, 2006, the fee is pro-rated for the period they apply in, see chart below.

Coverage is for civil suits.  Abuse or harassment allegations are invariably criminal charges and are not covered under this policy.  Applicants must sign the "Abuse and Harassment Exclusion" form as part of their application.

Annual Full Membership fees are $111.30 ($105 + 6% GST) ; if you are not already a member, membership fee and documentation must accompany your application.