BMS Canada Risk Services (BMS Group) is the selected broker for the CAO insurance program, exclusive to CAO members and contractors of FYidoctors. With a common goal of protecting optometry practitioners, CAO, FYidoctors and BMS Group have partnered to develop a comprehensive and unique Professional Liability insurance product.
Regular interaction with patients is a consistent part of any optometric practice and is a daily occurrence. With this in mind, you may face situations where your patients look to hold you responsible for injuries they deem to have received.
Professional Liability insurance protects you against liability or allegations of liability for injury or damages that have resulted from a negligent act, error, omission, or malpractice that has arisen out of your professional capacity as an optometrist.
It is important to note that coverage is afforded on a “claims-made and reported” basis and will respond to claims made during the policy period. This means that the policy which is in place when a claim is made will be the policy to respond – regardless of when the incident occurred. Therefore, it is extremely important there is no lag or gap in coverage between policy periods. Coverage needs to be continuously in place to ensure you are continuously protected.
Your Professional Liability Insurance also provides you with the following coverage:
Coverage is provided for legal expenses associated with having to appear at a disciplinary hearing with a provincial regulatory body or agency. In the event of a complaint or investigation, members are provided with superior legal representation and defence protection. Examples of Regulatory Legal Expense claims include complaints alleging professional misconduct, incompetence, or incapacity.
Coverage will reimburse insured members for defence costs associated with a case filed under the criminal code if the professional service was rendered in Canada and the member is found ‘not guilty’ of the criminal charge.
If you are asked to attend a trial, pre-trial, or appeal to assist in the defence of your claim, requiring time off work, you will be reimbursed for your loss of earnings up to $750/day.
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