The insurance coverage under this program is written on a "claims made and reported" basis.
Policy features include:
- coverage for compensatory damages resulting from actual or alleged breach of duty, neglect, error, negligent misstatement or omission committed by the insured in the conduct of covered ADR proceedings or in the provision of ADR services;
- Nil Policy Deductible
- cost of defense, settlement and claims expenses — subject to certain limitations — including when allegations are groundless or false;
- coverage includes arbitration proceedings or mediation services conducted anywhere in the world, provided the claim is brought and held against the insured in Canada or the United States;
- coverage is available for adjuncts to arbitration and mediation services (e.g., mentoring or supervising of trainees), subject to Trisura's written approval
- prior acts coverage included, retroactive to the date upon which the Named Insured first commenced to carry continuous, claims-made Errors and Omissions insurance, provided the actual or alleged acts, errors or omissions were unknown or could not reasonably have been foreseen at the time of application for coverage under Trisura Guarantee Insurance Company's insurance program
- an Extended Reporting Period of twelve (12) months is included for no additional premium
