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Protecting your profession
The Professional Liability Insurance you receive as part of your CASW Members Liability Insurance Program is written on a Claims Made basis; that is, for a claim to be covered, there must be an insurance policy in force at the time the loss is first reported. Once the policy expires or is cancelled, there is no further coverage for any claims which occurred while the policy was in force, but are not reported until after its term ends. In such a situation, your personal assets can then be at risk.
To avoid such a situation, we strongly advise all members who are leaving practice, going on sabbatical or retiring to purchase an Extended Reporting Period Endorsement, which provides coverage for claims which occurred during the time you were practicing, but are not reported until after you retire or leave the profession. The endorsement costs $175 plus applicable PST for 7 years of coverage, which is a very reasonable price to pay to protect yourself from a lawsuit stemming from work you did years earlier. To purchase an Extended Reporting Period Endorsement, please call our insurance broker, Aon Reed Stenhouse, at 1.800.951.2279, or email them at email@example.com.