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Home > News&Events > News > Ontario Association of Architects Launches an...
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| | Ontario Association of Architects Launches an Insurance Company to Enhance Consumer Protection
MEDIA RELEASE: Jan 15, 2003
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Media contact:
Marcia Wubben
OAA Communications Specialist
Tel: 416-449-6898
Fax: 416-449-5756
e-mail: marciaw@oaa.on.ca
Toronto, Ont.— The Ontario Association of Architects (OAA) is pleased to announce that as of today professional liability insurance for Ontario Architects, that was previously offered by the OAA through the OAA Indemnity Plan, will be provided by Pro-Demnity Insurance Company, a wholly-owned subsidiary of the OAA. This change allows for greater public protection and confidence, an increased level of comfort among re-insurers, and an increased capacity to contribute to extraordinary losses.
“As part of our mandate under the Architects Act to protect the public interest, all Ontario architectural practices are required by law to carry professional liability coverage,” explains OAA Senior Vice-President and Treasurer Paul Mitchell, “This has been provided, since 1987, by the OAA Indemnity Plan. In 2000 OAA Council decided to plan for a strong future for its Indemnity Plan and asked the Province of Ontario to grant a licence for an insurance company. The Ontario government made a minor amendment to the Architects Act, which takes effect today, permitting this arrangement.”
The OAA has a responsibility to the public to take steps to maximize its capacity to respond to consumer claims. In the past, architects in North America and around the world have seen serious threats due to materials like asbestos and ureaformaldhyde.
“We want Ontario consumers to have peace of mind that we are best positioned to respond to any kind of catastrophic loss that were to occur. In British Columbia, as an example, the 'leaky condominium' situation resulted in the failure of their New Home Warranty Program,“ says Mitchell.
“Pro-Demnity Insurance Company is a legally separate subsidiary, wholly-owned by the OAA. This company will conduct the business previously performed directly by the Association under the Indemnity Plan by providing insurance “for architects, by architects,” says Pro-Demnity Insurance Company Chair, Christopher Fillingham. “The OAA Indemnity Plan ceases to exist today with the creation of Pro-Demnity Insurance Company.”
The new insurance company will benefit from the more than 15 years experience of the Indemnity Plan. Board members selected for their knowledge of, among other things, architectural practice and insurance, will lead it. The experienced staff that have administered the Indemnity Plan will continue as employees of the new insurance company.
The Ontario Association of Architects is a self-governing profession under the Architects Act. Membership includes 2,550 architects, 1,100 intern architects and 650 associates. As well, as part of its regulatory mandate, the Association provides a wide range of services to practices, members and the public. These include continuing education, practice consultation service, practice advice, and programs to promote awareness of architecture and the environment.
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