Why liability insurance matters

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CMC-Canada Member Liability Insurance Group Plan 

PROLINK proudly manages the business liability insurance group plan for CMC-Canada members. The group plan provides three noteworthy benefits for participants: 1) significant cost savings due to the negotiating power of representing a large pool of members as one collective voice to the insurance company; 2) broad policy protection that has been tailored for management consultants so that CMC-Canada members can be confident that they have purchased protection that they can rely on, and; 3) insurance coverage particulars that will meet or exceed the vast majority of third party contractual insurance requirements that are made of management consultants. 

Please note the following insurance products and services available at group rates:

Professional Liability (also known as Errors & Omissions or “E&O”): 
The CMC-Canada member E&O policy will respond to allegations of professional negligence brought against you (whether they are frivolous or with m
erit) by a third party.

  • Coverage limit options of $1,000,000 to $5,000,000 per claim;
  • Insurer provides limitless coverage for legal defence costs (e.g. lawyer fees, expert testimonials, court costs, etc.) and these costs are not applied to your policy limit (i.e., they will not erode your policy limit reserving more finds for potential damages or a settlement awarded to a suing party).
  • Additional premium discounts for CMC and FCMC designates; Worldwide coverage;
  • Bonus protection for cyber risks including privacy breach and data loss.

Commercial General Liability (“CGL”):
Professional Liability insurance does not insure claims related to bodily injury or property damages that may occur as you render your professional services. CGL insurance responds to protect your business if it is alleged that you are responsible for bodily injury or pro
perty damage sustained by a third party (e.g., your clients, employees, etc.) such as “slip and falls”, property damage to a client site, etc.

  • Coverage limit options of $2,000,000 to $5,000,000 per occurrence;
  • Insurer provides limitless coverage for defence costs (e.g. lawyer fees, court costs, etc).
  • Special rates for “home-based businesses”;
  • In most cases, there is no additional cost to add a third party as an “additional insured” to your Commercial General Liability policy if this third party has requested this stipulation via a contract;
  • Worldwide coverage (not just limited to your premises like many standard CGL policies).

Property, Business Interruption & Crime “Office” Package:
Do you lease or own office furniture or computer equipment? If YES, consider purchasing Commercial Property insurance at the same time as you your Errors & Omissions and Commercial General Liability insurance. Designed for tenants of their office space, a very comprehensive property, business interruption and crime package is available to you starting at only $411 in annual premium. Similar policies independent of this group plan will cost a minimum of $750 in premium.

Legal Assist:
Participants of the group plan have access to a unique and valuable service called Legal Assist. This service provides free legal advice particular to the operation of your business (e.g. interpreting a complex client contract, terminating an employee, etc.). According to statistics, the average Legal Assist call length is 90 minutes which would translate into a very significant legal bill if you were to access the same consultation elsewhere.

To discuss the CMC-Canada Insurance Program or for questions regarding your policy or renewal, please contact PROLINK at 1-800-663-6828 or cmcbusiness@prolink.insure.