FAQs – Legacy CGA Plan
1. I made a mistake on the application form I submitted. How can I correct it?
Once an application form is submitted, it cannot be revised. Instead, please create a new application form to make corrections on your previously submitted form. If the change affects the number of CPAs and, therefore, your premium and you have already paid, please email us at firstname.lastname@example.org for the calculation of the new / additional premium.
2. What happens to an old application form that contains an error?
Any submitted application form completed in part or in its entirety cannot be deleted. It is kept in your client file. However, we can add a note to your file with instructions to disregard a previous application form. Please email us at email@example.com to add this note to your file.
3. A change in my firm’s name / address / ownership occurs after I have submitted my application form. What do I do?
Please create and submit a new application form in which you advise us of the change and its effective date.
4. What is meant by the Primary Area of Practice?
The Primary Area of Practice is determined by the type of professional service your firm offers which generates the majority of your annual gross billings. Examples of types of professional services include: audit, compilation, tax return preparation, bookkeeping, etc. See Section F of the application form for more examples.
5. Why is it necessary to disclose the percentage of billings generated from each type of service offered?
The type of services offered by insured firms is collected for statistical purposes only.
6. I requested a password reset but I have not received a reply to this request. What do I do?
Please check your spam or junk folder for any message from firstname.lastname@example.org or email@example.com. Please add these email addresses to your address book or contacts to help ensure that you receive our future communications. You may also email us at firstname.lastname@example.org OR call us 1-800-267-4734 to request a new password. Please do not email AND call for a new password to prevent any confusion resulting from multiple resets of your password.
7. How do I comply with the provincial insurance by-laws that require me to maintain discovery insurance for six years when I retire or close my practice?
This policy may provide a six year extended reporting period for qualifying practitioners once you cease to practice, please contact our office for the details.
8. How do I purchase additional coverage once my six year extended reporting period ends?
Please contact us at email@example.com.
9. Why do I need to report potential circumstances which may give rise to a claim?
This is a claims made and reported policy. If you are aware of a potential claim, it needs to be reported to your current Insurance Company prior to the expiry date of your policy to avoid any potential gaps in coverage.
10. Why am I no longer receiving an offer to purchase disciplinary coverage and corporate identity theft coverage?
These coverages are not available from the insurance company on the programs being administered by the CPA Professional Liability Plan Inc.
11. Am I able to purchase Office Contents Insurance and Directors & Officers Insurance?
Yes, these coverages will continue to be made available to you through AON. Please visit Please visit http://www.aon.ca.
12. How are our premiums calculated?
Premiums are based on the number of CPA’s in the firm regardless of any former designation.
13. I have a Volunteer Policy how do I renew this policy?
Please contact our office at firstname.lastname@example.org for instructions on how to renew this policy.
14. I am leaving public practice altogether; what should I do with my insurance policy?
You will need to implement the extended reporting period. Please contact us at email@example.com.
15. My CPA employee does not bill clients directly. How do I record them on the application form?
A CPA employee whose billings are counted under a CPA partner must be listed in Section C as a full-time CPA if the annual value of the professional services they complete is more than $15,000 annually OR must be listed as a part-time CPA if the annual value of the professional services they perform is $15,000 or less.
16. How are sales tax applied?
In accordance with certain provincial legislations, we must collect a specific tax rate that is applicable to practitioners in the following provinces: 8% in Ontario; 7% in Manitoba; 15% in Newfoundland & Labrador; and 6% in Saskatchewan.
The application of 15% harmonized sales tax in Newfoundland & Labrador took effect in July 2016.
The application of 6% sales tax in Saskatchewan took effect on insurance policies with an effective date of August 1, 2017 or later.
The application of 7% sales tax in Manitoba took effect on insurance policies with an effective date of July 1, 2019 or later.