Your PLI policy must satisfy the following as defined in the Registration Regulation:

i. a minimum amount of $1,000,000 per occurrence;
ii. a minimum aggregate amount of $3,000,000 per year;
iii. a deductible of no more than $1,000 per occurrence;
iv. where the insurance is of the claims-made type, the member shall have enduring (tail) insurance to provide coverage for at least five years after the termination of the insurance; and
v. the provider must either be licensed as an insurer with the Financial Services Commission or Ontario or must be in the form of membership in a protective association acceptable to the Registrar that provides equivalent protection.

You must provide the College with a copy of your PLI policy at annual renewal and once you’ve renewed your insurance.

For more information on the PLI requirements, view the Professional Liability Insurance Policy.