COMPANY REGISTRATION
Insurance Requirements
With respect to liability insurance, you must provide one of the following when applying for a Certificate of Authorization (CofA):
- A certificate of insurance as described below, or
- Evidence that you are exempt from requiring the insurance-see Exceptions below
All CofA holders must have professional liability insurance that accords with section 16(2)(e) of The Engineering and Geoscientific Professions Act (the Act), specifically a policy with:
- A policy limit for each single claim of at least $250,000
- Either an aggregate policy limit for all claims of at least $500,000 per year or an automatic policy limit reinstatement feature
- A deductible amount under the policy of a maximum of 10% of the single claim limit of the policy
- Liability coverage for errors, omissions and negligent acts due arising out of professional practice. Note: this coverage is subject to exclusions, conditions and terms considered normal insurance industry practice
- A provision that, if a party to the policy wants to cancel or amend the insurance policy such that it would conflict
with the Act or Association By-laws, that party must first give the other party:
- At least 45 days written notice, or
- If premiums are not paid, 15 days written notice
- The insurer must be licensed under The Insurance Act of Manitoba
Exceptions
A CofA holder does not need professional liability insurance if the professional practice would be in respect of the following hazards:
- Aviation
- Nuclear
- Shipping
See the Practice Notes regarding Errors & Omissions Liability Insurance