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If your business offers professional services or advice, you run the risk of being sued if a client blames you for any financial loss. Professional liability insurance (also known as errors & omissions insurance) helps protect you and your business from bearing the financial burden of a lawsuit. Without this protection, you could face extensive legal expenses that could seriously impact and even bankrupt your business – even if you’re not found legally liable.
While you likely have a commercial general liability insurance policy, these will not cover claims against your professional services or advice. That’s why professional liability insurance is an essential if you provide a service or offer professional advice.
Fortunately, Rogers Insurance offers professional liability insurance. Trusted brokers in Canada for decades, we have a hands-on, human-first approach to insurance that sets us apart from other brokerages. As one of the largest independent brokerages in Canada, we have the resources and expertise to find you the right professional liability insurance.
Request a professional liability insurance quote online, by phone, or stop by in-person at one of our offices.
Or, you can read on below to learn more about professional liability insurance.
How much does professional liability insurance cost?
The cost of professional liability insurance depends on a number of factors:
- Your industry
- Your company’s revenue
- Number of individuals your business employs
- Where you operate
- Level of liability coverage
- Your insurance and claims history
Your rates are based on the statistical risk of claims, determined by your industry, location, and number of employees.
An experienced professional liability insurance broker can discuss your rates and advise risk mitigation measures.
Who needs professional liability insurance?
Anyone whose business is providing a service or professional advice needs professional liability insurance. Some of the industries and professionals we serve most commonly include:
- Project Managers
- Graphic Designers
- Financial Services
- Forensic Experts
Don’t worry if your industry isn’t mentioned, just request a professional liability insurance quote online, by phone, or at one of our locations, and our experienced brokers will be able to help.
What’s covered by professional liability insurance?
Professional liability insurance helps protect you in the event a third party claims financial loss as a result of your service or professional advice – or your failure to provide it. Whether you’re to blame or not, you’d still need to cover your legal expenses. Professional liability insurance can help reduce that financial burden, as it may cover your defense costs, settlements, and awards up to your policy limit.
Keep in mind that you’ll still be required to pay a deductible. Your policy limit applies across your policy term (a 12 month period) and is not per incident. The level of coverage you choose depends on a few factors:
- Contract requirements (most are $1 or $2 million in Canada)
- Your Industry
- Your business risks
- Your budget
- Expected legal costs of defending a claim
- Possible compensation award
- Number and size of the client contracts/work you engage in
- The type of clients you have and the industry they’re in
- The overall value of the projects you work on
- The size of a legal claim that may be made against you
A professional liability insurance broker at Rogers can help you determine your coverage needs.
Work with the Best Professional Liability Insurance Brokers in Canada
If you want to work with the best professional liability insurance brokers in Canada, look no further than Rogers Insurance. Trusted since 1977 with protecting professionals, we’re an independent, employee-owned brokerage. What does that mean? It means we work for you – not an insurance company. In fact, we can deliver competitive professional liability insurance quotes from a number of different insurers.
Our professional liability insurance brokers are experienced and knowledgeable. They can help you with the following:
- Determine your insurance needs
- Deliver competitive professional liability insurance quotes
- Act as your insurance resource and advisor
- Advocate on your behalf in the event of a claim
We pride ourselves on our customer service, driven by our hands-on, human-first approach. We’re here to make insurance more straightforward.
Want to purchase your professional liability insurance online?
At Rogers, we offer EasyCover, where you can obtain a quote and buy professional liability insurance online in only a few short minutes. We offer critical protection, comprehensive coverage, and affordable rates in a quick and easy fashion. You can also package your professional liability insurance with commercial general liability and cyber liability insurance (both are essential for any business today).
What are the benefits of working with Rogers Insurance and EasyCover?
- Instant, online access to insurance coverage – you can get a quote, pay for, and receive your policy from the comfort of your home or office in about 10 minutes.
- No long, confusing applications to fill out.
- Comprehensive coverage at competitive prices.
- You can manage your policy online 24/7, including:
- Adding, deleting, and renewing additional insureds
- View and print policy documents
- Easily request changes to your policy
- Knowledgeable insurance support available by phone, email, and live chat
- Security in knowing you’re dealing with longstanding reputable, experienced, skilled insurance professionals
- Round out your business insurance with commercial general liability, cyber liability, and directors & officers liability insurance
- Backed by Lloyd’s of London, one of the most diverse and well-respected insurers globally
- Convenient and easy for you
Get a professional liability quote online with EasyCover, or give Rogers Insurance a call or stop by one of our offices to discuss your options with a professional liability insurance broker.