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

The AICA professional liability insurance policy provides coverage for professional services rendered by Canadian and Bermudian Chartered Accountants to the general public. Each Provincial Institute/Ordre of Chartered Accountants mandates their members to obtain and maintain insurance coverage while in public practice as well as upon cessation of public practice.

Regardless of the type of coverage, the AICA professional liability insurance policy is written on a claims-made basis. The policy provides coverage for claims first made against the insured during the policy period and reported by the insured to AICA in writing during the policy period. The policy that is in force at the time a claim is made will respond to the claim and not the policy that was in force when the service was rendered.

The professional liability insurance policy is issued on an annual basis. For the initial implementation and at each renewal of the policy certificate, all clients must submit an application form. In the case of a Discovery Policy, the insured must submit a written claims declaration to renew the coverage.