Why For Your Professional Liability Insurance?
- Separate aggregate limits for your Errors & Omissions, First Party Cyber liability and Commercial General Liability
- Broadened definition of Product to include component parts of Hardware/Software
- Cover for fines and penalties for violations of the Canadian Anti-spam Legislation
- Zero deductible option
- Underwritten by Lloyds of London and other A-rate insurers
- A variety of payment options including Visa, Mastercard and Amex
- Coverage options include:
- Up to $1,000,000 Errors & Omissions Liability
- Up to $2,000,000 Commercial General Liability
- Contents coverage option up to $50,000
- Option of up to $25,000 in Property Away from Premises
Professional Liability Insurance – Explained
Professional liability insurance coverage ensures your business is protected against claims made by third-parties for economic or financial losses. For example, if you or someone from your company makes an error while providing a professional service to an individual or another business, then you or that person could be liable for any damages, costs or losses your or their mistake has caused.
Professional liability insurance (or commonly referred to as PI) is designed to ensure your company and your employees are fully protected and is designed to cover businesses in the event of a lawsuit if they have been sued. Without it, you could be putting your business at financial risk.
Professional Liability Insurance in Ontario – Costs and Pricing
When applying for professional liability insurance for your Ontario business, it’s hard to determine an exact cost or price. This is mainly due to the fact that every business is different to the next, and there is no real ‘one package for all cookie-cutter’ solution. For example, a computer specialist will have different liability needs compared to a photographer, so their overall cover amount and type of insurance will differ.
When you apply for professional liability insurance our Ontario brokers will work with a number of leading brokerages in the area to find you the most appropriately priced quote with a high level of cover to suit your businesses needs and requests.