|
APPI 2024 Member Renewals and Professional Liability Insurance
APPI membership renewal notices will be emailed starting on November 15, 2023. APPI and CIP member fees for 2024 can be found here Member Renewal Information | Alberta Professional Planners Institute (albertaplanners.com)
Member fees for 2024 are due by December 31, 2023. This renewal date is especially important for regulated members to adhere to, in order to ensure that they do not have a lapse in Professional Liability Insurance (PLI).
APPI regulated members, RPP’s and Candidates, please take note that the PLI policy term will change to a period of March to March starting in 2025. This will reduce the number of members exposed to a lapse in coverage for those who are unable to renew by December 31. To ensure a continuation of coverage for 2024, regulated members will have a one-time 14 month term during the 2024 renewal cycle. Please note that members are still required to renew by December 31, 2023. The change in policy term will commence in 2025.
2024 coverage highlights:
- 5M Professional Liability Insurance (PLI) per claim/aggregate limit
- 100,000 Disciplinary Defence costs
- 150,000 Criminal Defence reimbursement
- 250,000 Cyber Security & Privacy Liability
- Worldwide coverage territory
- 10 year Extended Reporting Period
- And more
The PLI premium increase this year is a direct reflection of two factors, extensive policy usage and the one-time extension of the PLI policy period. The premium charged is substantiated by actuarial analysis and has been negotiated to keep the increase to the lowest amount acceptable to the Insurer to renew the policy. Premiums continue to be competitive, and coverage remains as comprehensive across all aspects of the policy.
If you have any question about your insurance policy, please contact APPI’s insurance broker, BMS Canada, at 1-844-294-2714 or [email protected]
Thank you for your commitment to the Institute and the planning profession.
|
