Firm Representatives: Update Your Professional Liability Insurance Now

Firm Representatives are reminded of their obligation to report the firms’ Professional Liability Insurance annually. Firm Representatives should log into My Portal, navigate to the Firm Dashboard and select Update Insurance Information. As a Firm Representative you must report the insurance provider, the source of coverage, number of members in the firm, limit of liability per claim, the policy number and expiry date.  Proof of coverage must be provided on an annual basis to CPA Ontario and within five business days of the expiry of its policy to maintain membership in good standing as outlined in Regulation 14-1, section 11.

Failure to provide proof of coverage to CPA Ontario within 5 business days will result in the suspension of the Firm and its Firm Representative. To avoid this consequence, please check your firm’s insurance expiry date and mark your calendar to complete the reporting obligation by the due date.