A-12, r. 7.2 - Regulation respecting the practice of agrology within a partnership or a joint-stock company

Section 10 Disposition versions

2015-12-31

10. The security must include the following minimum conditions:

(1)  coverage of at least $1,000,000 per claim and of at least $3,000,000 for all claims filed against the partnership or joint-stock company during a coverage period of 12 months; the amount must be of at least $4,000,000 when the partnership or joint-stock company has more than 3 agrologists;

(2)  an undertaking by the insurer or surety to pay in lieu of the partnership or joint-stock company, up to the amount of the security, any sum that the partnership or joint-stock company may be legally bound to pay in damages to a third person on a claim filed during the coverage period and arising from fault on the part of the agrologist committed while practising within the partnership or joint-stock company;

(3)  an undertaking by the insurer or surety to take up the cause of the partnership or joint-stock company and defend it in any action against it and to pay, in addition to the amounts covered by the security, all costs and expenses of proceedings against the partnership or joint-stock company, including the costs of the inquiry and defence and the interest on the amount of the security;

(4)  an undertaking by the insurer or surety to extend the security to any claim filed against the partnership or joint-stock company within 5 years following the end of the coverage;

(5)  an undertaking by the insurer or surety to provide the secretary of the Order with a 30-day notice prior to any cancellation or amendment to the security if the amendment affects a condition set out in this section or to any non-renewal of the security.

O.C. 1070-2015, s. 10.