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Retiring/Taking an extended Leave from Practice

Professional Liability Insurance coverage while on Parental or extended Leaves

If you are planning an extended leave or parental leave think twice about your professional liability insurance coverage! You may feel that while you are not working you do not need insurance coverage (for example, if you are not needing to register with the College of Occupational Therapists of Ontario there is no regulatory requirement for the Sexual Abuse Therapy and Counselling Fund endorsement). HOWEVER…think about it…. Professional liability insurance policies are claims made policies and you must be covered at the time that a claim (e.g. a complaint or a lawsuit) comes forward. It makes no difference if you were covered at the time of the incident that has given rise to the claim…. you must be covered when you want to make the claim for support. So, if you’re just going on leave, you are not personally well protected unless you continue your insurance coverage for a period of time that will reasonably cover the potential that any claims may come forward. Read more!

Professional Liability Insurance Coverage & Retirement – why is coverage important?

If you are planning to retire from practice – congratulations! OSOT and LMS Prolink want to support you in this significant career milestone and ensure that your retirement is smooth in every regard. You may feel that once you retire that you no longer require professional liability insurance – after all, there is no longer a requirement to register with the College of Occupational Therapists of Ontario and to meet their requirement for a Sexual Abuse Therapy and Counselling Fund endorsement. HOWEVER, be reminded that professional liability insurance policies are claims made policies and you must be covered at the time that a claim (e.g. a complaint or lawsuit) comes forward. It makes no difference if you were covered at the time of the incident that has given rise to the claim – if you aren’t covered at the time you want to claim for support – you just aren’t covered! Read more!

OSOT and LMS Prolink work together to make liability insurance coverage after retirement easy. LMS Prolink has negotiated with our insurer to provide complimentary extension coverage to any OSOT member who retires providing they were a previous policy subscriber and that they maintain a non-practising membership registration with the society. This economical solution gives you piece of mind and keeps you connected to your profession in your early retirement. Contact Member Services Manager for more information.