Miscellaneous Professional Liability Insurance Fundamentals

Miscellaneous Professional Liability insurance protects professionals from financial loss from third-party claims alleging negligent performance of professional services. This course teaches the fundamentals of professional liability insurance with a focus on MPL policies.

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Continuing Education Credits

This course is approved for 2HR CE Credits for BC, AB, MB, SK and ON (technical).

Course Objectives

By the time you’ve completed this course you’ll be equipped to:

Explain what it means to be liable
Evaluate the policy coverage and available options
Describe what to do and expect in case of a claim
Upgrade the way you do business in order to minimize the chance of a claim
Advise on what to keep in mind when buying MPL insurance

Course curriculum

1. Welcome Message
2. Course objectives
3. Downloadable material
1. Chapter objectives
2. Who is a professional?
3. What are professional services?
4. Quiz instructions
5. Quiz
1. Chapter objectives
2. What is liability?
3. What is liability insurance?
4. Professional liability insurance
5. Sources of liability
6. To whom is a professional liable?
7. Quiz
1. Chapter objectives
2. What is miscellaneous professional liability insurance?
3. The MPL insurance policy
4. Who is the insured?
5. What's covered by an MPL policy?
6. Coverage enhancements
7. What's not covered?
8. Quiz
1. Chapter objectives
2. What constitutes an MPL insurance policy claim?
3. What is a 'claim' under an MPL policy?
4. What is a 'wrongful act' under an MPL policy?
5. What is a 'loss' under an MPL policy?
6. Claims examples
7. Understanding policy reporting requirements
8. Claims-made policies
9. Claims-made and reported policies
10. What does 'as soon as practicable' really mean?
11. Reporting an MPL claim to the insurer
12. How MPL claims are handled
13. What to expect from the MPL claims process
14. Quiz
1. Chapter objectives
2. What creates claims risk?
3. How you run your business
4. How you work with clients
5. Implementing legal safeguards
6. Navigating change
7. Quiz
1. Chapter objectives
2. Why buy MPL insurance?
3. MPL vs. CGL
4. What to buy?
5. What should be covered?
6. Who should be covered?
7. How much coverage is required?
8. How does the policy structure liability limits?
9. Premiums and deductibles
10. How is premium determined?
11. Policy terms and conditions
12. Policy length
13. The application process
14. Understanding your MPL application
15. Selecting an insurer
16. What to expect from your insurance broker
17. Managing your insurance
18. Quiz
1. Message from the instructor
2. Course survey
3. Miscellaneous Professional Liability Insurance Fundamentals Final Assessment- Westland