Professional Liability Insurance for MRTs and Sonographers
As a healthcare professional, you help improve the quality of life for Canadians but in doing so you expose yourself to various liabilities. Professional liability insurance (PLI) provides protection against malpractice claims arising from real or alleged errors or omissions, including negligence. PLI is commonly referred to as, "Medical Malpractice Insurance" or an "Errors and Omissions" policy. PLI protects you against bearing the full cost of defending yourself and the risk of losing your own personal assets (house, car, savings, wages, etc.). Today’s healthcare professionals have great demands upon their skills and expertise. While a claim may appear to be frivolous, it can be devastating financially with costs adding up quickly to defend yourself.
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Why your employer’s insurance may not be enough
Adequate liability insurance is crucial to your career, and coverage provided by your employer may not be sufficient. Having your own policy guarantees that a claim made against you will be covered, even if you change employers. It is recommended that you purchase your own personal protection that goes beyond the limitations of most employer-provided programs for the following reasons:
- Having you own policy means your insurance is portable. If you change jobs or employers, your coverage will follow you
- An OAMRS policy provides Good Samaritan coverage – coverage for any advice or volunteering you may do outside of your work, which may not be covered by your employer
- Many employer insurances have a shared limit of liability for all employees. This limit may not be enough to cover you and your personal assets, and you could be at risk to cover the difference
- Your employer’s insurance may have a large deductible, greater than your total defence and settlement costs
- Most employer policies will only cover the settlement for damages for malpractice. They may not cover a legal defence before a regulatory disciplinary committee or criminal defence costs
OAMRS Insurance Coverage Benefits
- $2,000,000 or $5,000,000 per claim/Aggregate per policy term per member
- Extended Reporting Period – 84 months
- Expense Reimbursement including Regulatory Disciplinary Coverage for Legal Representation - $100,000 Aggregate per policy term per member
- Defence Costs for Alleged Criminal Acts excluding Abuse - $100,000 Aggregate per policy term per member when proven innocent as defined by the policy
- Loss of Earnings $750 per day per member if the insurance company requests you to assist in the investigation or defence of a claim
- Allegation of Abuse Coverage Defence costs reimbursement $1,000,000 per policy term per member as more clearly defined in the policy
- Cyber Security and Privacy $25,000 per term per member
- No Deductible - $0
- Across Canada Coverage 24/7 in all employment and volunteer circumstances anywhere in Canada
- Direct contact available to answer your questions: Janie Osman 416-778-8000- ext. 2265
Become an OAMRS member today!