Professional Liability (Errors and Omissions) Insurance
As your occupation is professional nature, you could be liable in the event of your errors, omissions or malpractice in the service you rendered. You would like to avoid any financial loss caused by lawsuits. Your professional liability insurance protects you from the incidents.
Professional liability insurance would provide defence costs even a suit by client or patient is groundless. We can arrange it wherever you are in BC or Ontario. Our provider is mainly from Lloyd’s of London.
In medical or health care practice field, malpractice suite could not result from only physical injury but alleged injury such as in emotional or psychological nature. You could be liable for negligence in providing or failing to provide, professional services.
Claims made policy*
Professional Liability insurance is claims made policy therefore your need to maintain coverage even after you have completed the work, services or even after you retired.
Claims made policy means that a claim should be made during the policy period unless the claim report period is extended for specific term after its expiration.
Commercial General Liability*
In addition to liability of professional activities, there is commercial general liability to consider. You may be legally liable to pay compensatory damage due to body injury or property damage arising from your operations other than your own professional service rendered. Such damage could result from water damage resulting from accidentally touching an automatic sprinkler of the building. If a guest slips and falls at your office, or has an arm broken by a falling bookcase, you could be liable for the damages and could be subject to a lawsuit. Since you have regular income or you have an asset, you could be sued for the income or the asset. Commercial general liability would provide coverage for situations such as these. Commercial general liability coverage starts from $1,000,000.
You could include coverage for your business properties as well as business income in case your business is interrupted by insured perils.
*Subject to the provisions, conditions, definitions, limitations and exclusions as described in the policy wordings.
As a member of the largest independent insurance broker group, we have large and respective insurance markets. We find best coverage with competitive price. Please let us know what your needs are. We can customize your coverage, such as increasing the liability coverage to 5 million dollars.