Clinic Coverage

Do you operate an independent practice? Is your practice incorporated? Do you have employees billing under your organization? CPA and participating provincial/territorial CPAP association members have exclusive access to discounted business package and clinic professional liability insurance. Coverage is designed to meet the specific needs of independent psychology practitioners.

What is Clinic Professional Liability Insurance and do I need it?

In the event of a claim, both the treating professional (any regulated health professional) and the clinic are likely to be named in a statement of claim or lawsuit. Clinic Professional Liability Insurance protects the clinic and its assets in such circumstances. You should purchase this coverage if you have health professionals working for, or on behalf of, your clinic and billing under your clinic name. In addition, if you do not have employees but have an incorporated clinic, this coverage is automatically extended to you.

Premium cost is $280

What is the Clinic/Business Package and do I need it?

This policy provides insurance coverage for members who are operating a clinic. Included is Commercial General Liability coverage, Property Insurance and Crime protection to ensure comprehensive coverage for your business. Commercial General Liability insurance provides coverage for bodily injury (for instance, slip and fall) and property damage caused to a third party.

Property coverage protects against damage to contents, including medical equipment, and loss of revenues caused by an interruption of business activities arising because of an insured loss. Crime coverage protects against financial loss due to dishonesty, fraud, or theft of money, securities or other property owned by the office/clinic.

Premium cost is $450

What is the Clinic/Business Individual Coverage and do I need it?

Contents

Members who operate a private practice in which they are the sole professional, and also rent or own a space for which they require contents coverage can purchase this coverage. The Property/Crime package includes $50,000 of contents insurance and $10,000 crime coverage. Higher limits are also available.

Details of the basic coverage is outlined below. If you require additional limits or for more coverage information, please contact BMS Group.

Broad form, subject to exclusions - 90% co-insurance.

Coverage

Limit

Office Contents
Covers the contents usual to an office (i.e. desk chairs, filing cabinets and computers while situated at the address indicated on your certificate). This policy provides “All Risks” of direct physical loss or damage to all assets (subject to policy exclusions) that you own or that you are responsible to insure.
$50,000
$500 deductible
Includes:
Replacement cost of laptops
Earthquake Coverage
Flood Coverage
Sewer Backup 

Yes
Yes - deductible $100,000 
Yes - deductible $10,000
Included - deductible $25,000 
Accounts Receivable $50,000
Valuable Papers and Records
Covers the additional expenses incurred to reproduce written, printed and otherwise inscribed papers following a loss.
$50,000
Extra Expense
Covers the additional expenses you incur in order to maintain normal operations after an insured loss.
Actual loss sustained
Loss of Profit Actual loss sustained
Deductible $500

Premium cost is $275

Participating members can add one or both of these coverage options when applying for Professional Liability insurance.

Commercial General Liability

Members who operate a clinic with several professionals, who are incorporated, who have purchased contents insurance with another provider or do not have any contents to insure, can purchase stand-alone commercial general liability insurance.

Premium cost is $275

What is Employment Practices Liability Coverage and do I need it?

Employment Practices Liability Insurance (EPL) includes coverage for defense costs and damages related to various employment-related claims including allegations of wrongful termination, discrimination, workplace harassment and retaliation. Click here for additional information.

Please click here to find out more!