Practice Risk Solutions

FAQs

  • Who is BMS Group?

    BMS Group is the official and exclusive broker for the CAO insurance program. BMS Group Canada, headquartered in Ottawa, is part of the Specialty Risk division of BMS Group, a Lloyd’s of London broker. Their team of industry experts provides unparalleled risk management and brokerage services while offering a comprehensive range of insurance products and resources to Canadian organizations.

  • What advantages does this group plan have for members?

    The group plan allows CAO members to pool their collective risk and negotiate better rates with insurers – resulting in a more cost-effective product and premium savings for participants.

  • What is Professional Liability Insurance?

    Professional liability insurance protects you against liability, or allegations of liability, for injury or damages resulting from a negligent act, error, omission, or malpractice that has arisen out of your professional capacity as an optometrist.

  • How can I purchase Professional Liability Insurance?

    CAO members can purchase Professional Liability coverage directly online at www.cao.bmsgroup.com. If you have questions about what coverage is right for you, a BMS broker can be contacted by phone at 1-844-517-1371 or by email at cao.insurance@bmsgroup.com

    Paper applications can be mailed to:

    BMS Canada Risk Services Ltd.
    825 Exhibition Way, Suite 209,
    Ottawa, ON K1S 5J3

  • What is Commercial General Liability Insurance and do I need it?

    Commercial General Liability insurance provides coverage to protect against claims arising from injury or property damage that you (or your business) may cause to another person as a result of your operations and/or premises (for example, a patient may slip and fall on a wet floor and injure themselves).

    Coverage is recommended for members who own or operate clinics. Coverage is also recommended for independent practitioners who contract out their services or bill under their business name.

  • How can I purchase Commercial General Liability Insurance?

    CAO members can purchase Commercial General Liability coverage directly online at www.cao.bmsgroup.com. If you have questions about what coverage is right for you, a BMS broker can be contacted by phone at 1-844-517-1371 or by email at cao.insurance@bmsgroup.com

    Paper applications can be mailed to:

    BMS Canada Risk Services Ltd.
    825 Exhibition Way, Suite 209,
    Ottawa, ON K1S 5J3

  • What is the Business Package and do I need it?

    Clinic/Business Package provides coverage to protect your office and the contents within from losses associated with property damage (such as fire) and crime. It also provides coverage if your business is sued for bodily injuries to a third party that occur within your workplace. Included are Commercial General Liability coverage, Property Insurance and Crime protection to ensure comprehensive coverage for your business.

    Commercial General Liability insurance provides coverage to protect against claims arising from injury or property damage that you (or your business) may cause to another person as a result of your operations and/or premises (for example, a patient may slip and fall on a wet floor and injure themselves).

    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.

  • How can I purchase the Business Package?

    CAO members can purchase Professional Liability coverage directly online at www.cao.bmsgroup.com. If you have questions about what coverage is right for you, a BMS broker can be contacted by phone at 1-844-517-1371 or by email at cao.insurance@bmsgroup.com

    Paper applications can be mailed to:

    BMS Canada Risk Services Ltd.
    825 Exhibition Way, Suite 209,
    Ottawa, ON K1S 5J3

  • I am discontinuing practice (retiring, taking an extended leave of absence, maternity/parental leave). Will the CAO PLI policy cover me during this time?

    The Professional Liability Insurance coverage is written on a “claims made” form. This means that a policy must be in place when an allegation is made, regardless of when the actual event took place. “Claims made” policies provide coverage as long as members continue to renew their insurance each year. Members who do not renew coverage and continue to practice without insurance will not be covered for a claim made after renewal for an incident that occurred in the past.

    In the event a member retires, takes maternity or parental leave, or discontinues practice during the policy period, upon expiry of that policy, the policy automatically includes Extended Reporting Period coverage to cover claims arising from prior incidents and exposures that occurred during their past practice as an optometrist. This provides members with the security and peace of mind that no potential gap in coverage might occur during retirement.

  • I’m not a member of CAO. Am I still eligible to purchase this insurance?

    In order to be eligible for the CAO group insurance program, you must be a member of CAO. As one of its member benefits, CAO has negotiated with the broker and insurance company to provide discounted insurance rates to its members. To learn about CAO membership, please visit http://www.opto.ca/cao-membership.