Professional Liability Insurance
What is Professional Liability Insurance?
Professional liability insurance would be part of your centre insurance – the insurance you have that covers your property, buildings, contents and directors liability.
The Regional Municipality of York has recently mandated that all child care centres receiving funding from the Region must carry Professional Liability insurance. We anticipate that more municipalities across the province will require this coverage for all centres over the next few years.
Professional Liability (or Errors and Omissions) coverage is common for individual professionals, such as doctors and lawyers, and organizations that employ regulated professionals. This is a very specialized coverage that is typically excluded under the standard commercial general liability policy.
The coverage provides for liability lawsuits arising out of errors or omissions by Registered Early Childhood Educators (RECE) individually or for the centre. The policy may also provide for an individual’s legal fees related to a disciplinary complaint before the College.
This is a very important time to make sure you have the right insurance for your centre. The wrong time to find out you are not covered is after a claim!
The elements of insurance coverage you should look for include:
Building and contents; Crime including employee dishonesty; Loss of income; General Liability; Directors & Officers liability; Physical and sexual abuse; Professional liability
When the OCBCC started out many years ago, many members had trouble finding specialty insurance for child care programs. The OCBCC works with two insurance professionals on specialized insurance for the early learning and child care sector.
If you have any questions about your current insurance program, we recommend you contact Ian Vincent, at Impact Insurance Brokers.
For Centre insurance inquires call Ian Vincent at 1-877-238-7054 or email: ivincent@impactinsurance.com