There are so many options available to Yoga Teachers in Canada. Everything from different limits, insurance deductibles, coverages, the list can go on and on. But as a Yoga teacher in Canada, one of the biggest concerns you should have is whether your Yoga policy is claims made or occurrence based. This question was brought up recently by Chelsie, from B.C., Canada. She had done some research into the differences of the two and didn’t understand them very well.
To help her understand we gave Chelsie the following example, putting her right into a possible situation. Claims made policies evaporate as soon as they are cancelled. So, Chelsie is working as a Yoga teacher and a client falls during their practice in July. At the time they seem okay so she thinks nothing of it. Chelsie works mainly in the summer, so she cancels her policy in the fall and continues her career leaving her profession as a Yoga teacher behind. Now if Chelsie has a claims made policy and that following December she gets papers filed and is brought into a lawsuit because the client that fell the summer before is actually chronically injured, she has NO COVERAGE. But if she had insurance from LMI, Canada’s largest provider of Yoga insurance in Canada, her policy would be Occurrence based and she would have coverage from the incident the summer before. That is a massive difference in a Yoga insurance policy. You never know when an accident could come back to draw you into a lawsuit. And only an occurrence based policy is there to protect you as Yoga teacher at any time!
Hope that helps! Click to hear more answers to inquiries about Yoga.