Professional Liability Insurance
If you have a professional services business, having Professional Liability insurance is critical to your business. It protects you for errors or omissions that you have made or that the client perceives you have made. Your clients might sue you for damages resulting from faulty performance of your services, or for financial losses resulting from the advice you provide.
Professional liability Insurance cover amounts which you may be legally required to pay as compensatory damages to third parties for committing an act of negligence or an error or omission in performing your professional activities. It also provides for the defense costs, including when legal action turns out to be unjustified.
Who needs professional liability insurance?
For doctors, dentists and chiropractors, this coverage is often called malpractice insurance. But if you are a lawyer, accountant, architect or engineer, what you need is professional liability coverage. Other professional who can benefit from professional liability insurance are advertising agencies, commercial printers, web hosting companies and event planners. In short, if you provide a service to your client for a fee, you have an error and omission exposure. You need to consider what will happen if the service is not done on time or correctly, and how can harm your client money and reputation.
Every Errors and Omissions policy differs according to your business sector, services provided or industry. We can work with you and your company to create a tailor made E&O policy – whatever your company type. We are able to place over 1,000 different types of professionals and even professional associations and group plans.
Ai´s Professional Liability brokers will help you tailor your insurance policy in an affordable and effective way. To find out more about Professional Liability Insurance, please contact us at 416 484-4545 or email us at email@example.com. Or get a quote right now by submitting your online application here.