O-6, r. 2 - Regulation respecting professional liability insurance of dispensing opticians

Section 2.02 Disposition versions

2016-01-01

2.02. The insurance contract must provide that:

(a)  the minimum coverage is $1,000,000 per claim and $2,000,000 for the aggregate of the claims with respect to the coverage period;

(b)  the coverage applies to services rendered and to the failure to render services during the 3 years immediately preceding the coming into force of the insurance contract;

(c)  the insurer undertakes to pay in the place and stead of the insured, within the limits of the coverage, any amount in damages that the insured may be legally bound to pay to a third party with respect to services rendered or to the failure to provide certain services on the part of the insured or his employees during the coverage period;

(d)  the coverage applies to claims made after the expiry of the insurance contract if they concern services rendered or the failure to render services during the life of the contract, until the expiry of the prescription period;

(e)  the insurer undertakes to take up the interest of the insured and to assume his defence in any action brought against him. The expenses and legal costs of suits against the insured, including those of the defence and interest upon judgment, are borne by the insurer over and above the amounts referred to in paragraph a;

(f)  the insurer undertakes to give notice to the Order or to the insured, as the case may be, within 30 days prior to the modification, the cancellation or the non-renewal of the insurance contract;

(g)  the insurer undertakes to advise the Order where a sum of money is paid as a result of the fault or negligence of a dispensing optician committed in the practice of his profession.

Decision 83-02-09, s. 2.02; I.N. 2016-01-01 (NCCP).

2012-09-01

2.02. The insurance contract must provide that:

(a)  the minimum coverage is $1,000,000 per claim and $2,000,000 for the aggregate of the claims with respect to the coverage period;

(b)  the coverage applies to services rendered and to the failure to render services during the 3 years immediately preceding the coming into force of the insurance contract;

(c)  the insurer undertakes to pay in the place and stead of the insured, within the limits of the coverage, any amount in damages that the insured may be legally bound to pay to a third party with respect to services rendered or to the failure to provide certain services on the part of the insured or his employees during the coverage period;

(d)  the coverage applies to claims made after the expiry of the insurance contract if they concern services rendered or the failure to render services during the life of the contract, until the expiry of the prescription period;

(e)  the insurer undertakes to take up the interest of the insured and to assume his defence in any action brought against him. The costs and expenses of suits against the insured, including those of the defence and interest upon judgment, are borne by the insurer over and above the amounts referred to in paragraph a;

(f)  the insurer undertakes to give notice to the Order or to the insured, as the case may be, within 30 days prior to the modification, the cancellation or the non-renewal of the insurance contract;

(g)  the insurer undertakes to advise the Order where a sum of money is paid as a result of the fault or negligence of a dispensing optician committed in the practice of his profession.

Decision 83-02-09, s. 2.02.