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	Professional Liability Insurance Coverage Features Additional Coverage Options Active Practice Coverage Discontinued Practice Coverage Mergers and Dissolutions Claims Handling Service

If you are a Chartered Accountant and would like to operate a public practice in Canada, your Provincial Institute/Ordre will require you to obtain professional liability insurance. As each Provincial Institute/Ordre has its minimum limit requirement, we recommend that you consult with your Practice Advisor regarding your practice insurance requirements.

Sole Practitioner Coverage

The minimum coverage available for sole practitioners with a $1,000,000 limit per claim / $1,000,000 annual aggregate limit may be increased by any of the following factors:

• the sole practitioner employs more than one staff person;
• gross billings exceed $425,000 annually;
• over 60% of the services performed relate to management consulting;
• a higher limit of coverage is chosen;
• previous claims;
• civil penalty coverage is added;
• the practitioner has requested the Directors & Officers Liability Extension.

Part-time Practice Coverage

Certain sole practitioners who are operating a part-time public accounting practice out of a home office and have full-time employment elsewhere may be eligible for a part-time practice package for a limit per claim of $1,000,000 and annual aggregate of $1,000,000. Please contact your Program Representative to determine whether or not you meet the following qualifying criteria:

• annual gross billings must not exceed $30,000;
• there must be no more than one CA and one part-time staff;
• the part-time practice is in addition to a full-time employment, or the CA is retired and provides services from his/her home.