A-32.1 - Insurers Act

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41. The authorization granted by the Authority to a self-regulatory organization is limited to professional liability insurance covering persons governed by the organization at the time of the injurious act or omission, unless the Authority authorizes the organization, on its application, to provide the following services:
(1)  insuring those persons against misappropriations of funds required to be deposited in a trust account, committed without complicity on the insured’s part, and for the legal costs arising out of such misappropriations; or
(2)  insuring a partnership or a company against liability the partnership or company may incur as a result of professional misconduct by persons who are authorized to engage in their professional activities within the partnership or company and who are governed by the organization.
If the self-regulatory organization is a professional order, the partnership or company referred to in subparagraph 2 of the first paragraph is the one referred to in Chapter VI.3 of the Professional Code (chapter C-26).
2018, c. 23, s. 32018, c. 23, s. 3.
In force: 2019-06-13
41. The authorization granted by the Authority to a self-regulatory organization is limited to professional liability insurance covering persons governed by the organization at the time of the injurious act or omission, unless the Authority authorizes the organization, on its application, to provide the following services:
(1)  insuring those persons against misappropriations of funds required to be deposited in a trust account, committed without complicity on the insured’s part, and for the legal costs arising out of such misappropriations; or
(2)  insuring a partnership or a company against liability the partnership or company may incur as a result of professional misconduct by persons who are authorized to engage in their professional activities within the partnership or company and who are governed by the organization.
If the self-regulatory organization is a professional order, the partnership or company referred to in subparagraph 2 of the first paragraph is the one referred to in Chapter VI.3 of the Professional Code (chapter C-26).
2018, c. 23, s. 32018, c. 23, s. 3.