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Insurance

• Insurance Forms Here

Mandatory Liability Insurance May 2006

The regional broker for Saskatchewan members is

Homestead Insurance Agencies
#103 8850 Walnut Grove Drive
Langley, BC V1M 2C9
Phone 604 888-5042
Toll Free 877 888-5044
Fax 604 888-2946
Email
Contact

Mumby Insurance Brokers website includes additional information on the IDC program. Includes list of Frequently Asked Questions, articles on why interior designers should carry E&O insurance, www.mumby.com/idcinsuranceplan

If you are covered by your employer please complete the waiver/ non participation form and return to broker.

If you have any questions regarding this year’s renewal please call or email Shelley Marshall at 975-3123 or shelley.marshall@saskatoon.ca

SUMMARY OF COVERAGES FOR THE IDC INSURANCE PROGRAMME

1. Professional Liability Insurance (E&O)

Claims made form – Coverage applies to claims first made against the insured and reported to the insurers during the policy period

• a. Insured services
  • All services rendered or that should have been rendered by the insured relating to their practice as an interior designer
• b. What is a retroactive date?
  • This is the date that defines the extent of coverage for claims that occur prior to the inception date of the policy that is in effect at the time the claim is made.
• c. Who is an Insured?
  • The named insured, as shown on the declaration page
    Any Interior designer employed by the named insured
    Any Intern employed by the named insured
    Any employee, present or former
    Any employees of others on loan to the named insured
    Only while working for and under the guidance of the named insured
• d. Included in the wording
  • Territory restriction to Canada only – all suits must be made and brought against your firm in Canada.
    All limits in Canadian currency
    Defense costs and supplementary payments are in excess of the limit of liability
    Reimbursement of wage loss extension when you are assisting in the investigation or defense of a claim. Up to $250 per day, subject to a maximum of $2500.
    Disciplinary action – legal expense reimbursement, subject to a maximum of $10,000
    Retirement/Death/Disability/Cessation of business – subject to a maximum of 2 years
• e. Exclusions
  • Bankruptcy/Insolvency
    Architects and Engineers
    Construction/manufacturing/fabrication/installation
    Delay in delivery
    Any other business activities
• f. Obligations of the Insured in the event of a loss:
  • The insured shall as soon as practicable after being made aware of a claim for which coverage would be afforded by this policy, give written notice to the Insurer, Sovereign General Insurance Company, Suite 700, 2000 McGill College Avenue, Montreal, Quebec, H3A 3H3, to the attention of Monique Bain, Claims Manager.

2. Commercial General Liability Insurance

Occurrence form – coverage applies to claims which occur during the policy term

• a. Who is an Insured?
  • The named insured, as shown on the declaration page
    Any Interior designer employed by the named insured
    Any Intern employed by the named insured
    Any employee, present or former
• b. Included in the wording
  • All limits in Canadian currency
    Personal injury liability
    Advertising injury liability
    Employers liability
    Tenants legal liability – limit of $250,000
    Non-owned auto
    S.E.F. #99
    Medical payments – limit of $5,000 per person
    Employee benefits liability – limit of $250,000
• c. Excluded
  • Nuclear energy and pollution liability exclusions
    War risk exclusion
    Asbestos liability exclusion
    Fungi and fungal derivatives exclusion
    Data exclusion
• d. Obligations of the Insured in the event of a loss
  • The insured shall as soon as practicable after being made aware of a claim for which coverage would be afforded by this policy, give written notice to the Insurer, Sovereign General Insurance Company, 4 King Street West, 17th Floor, Toronto, Ontario, M5H 1B6, to the attention of: Lorne MacKenzie, Claims Manager. No insured will, except at their own cost, voluntarily make a payment, assume any obligation, or incur any expense, other than for first aid, without the insurer’s consent.

NOTE: THIS IS A SUMMARY OF COVERAGES FOR YOUR INFORMATION ONLY. ALL COVERAGES ARE SUBJECT TO THE TERMS, CONDITIONS AND EXCLUSIONS AS PER THE POLICY WORDINGS.