Errors and Omissions Insurance for Professionals in Ontario, Canada

Protection for mistakes that can cost a fortune

In the Ontario area, errors and omissions insurance is often times referred to as professional liability insurance. E&O insurance protect your business in a variety of instances. In the event that you or one of your employees is legally liable for negligence or misinformed information, this insurance policy can protect you. It will not only pay for the financial loses of the customer, but it will pay for any potential lawsuits and legal fees.

What Businesses Need E&O Insurance?

If you are in a profession that provides services or advice to the public you absolutely need errors and omissions insurance. Here at ProfessionalsCoverage, we mostly offer this policy to consultants, real estate agents, insurance agents, financial advisors, lawyers, accountants, engineers, architects, and a variety of other businesses. In some situations, it might even be necessary for business partners and licensing boards to acquire this type of policy. In fact, it might be required by contract.

At the end of the day, any business is at risk of a lawsuit if they cause customers to experience a financial loss. For instance, as a lawyer you are often times required to give your clients advice. If you tell your client to plead guilty in order to avoid jail time, but he or she ends up getting jail time anyway, they could sue you for misinforming them. This is why it is always imperative to make sure that your business is protected in the event that you are faced with one of these situations.

Please find the list of professions we commonly insure below:

Academic Testing Centres
Accident Investigation
Accident Prevention Consultants
Accountants
Actuaries
Adjusters
Adoption Agencies
Advertising
Advertising Agencies
Advertising Agents & Services
Aerial Mappers
Agents
Agrologists
Agronomists
Alarm Monitoring Services
Allied Health Professionals
Alternative Dispute Resolution Firms
Alternative Energy
Answering Services
Anthologist
Anthropologist
Appraisers
Arbitrators & Mediators
Arborists / Tree Surgeons
Archaeologists
Architects
Architects & Engineers
Architectural technicians and technologists
Associations
Attorneys
Auctioneers, Auction Houses
Authors
Bailiffs
Blueprint & Photocopy
Boat Registrars
Bookkeepers
Broadcasters
Building Designers(Bill 124)
Business Brokers/Managers
Business Consultant
Business Enterprise Agencies
Business Training Courses
Cabling Designers
Camera & Photo Supply Stores
Careers Advisory Service
Catering Consultancy
Cereal Growing Advisors
Chambers of Commerce & Trade
Charities
Chiropodists
Chiropractors
Civil engineers
Claims Adjusters & Administrators
Collection Agencies
Commercial Printer
Communication Consultants
Company Formation
Company Search Agency
Conference & Event Management
Conference Facilities & Services
Conservation Consultants
Conservation Organizations
Consultants
Consumer Organisations
Contest Managers
Contractors Accountants
Convention Planners
Copywriters
Counselling & Advice Services
Court Reporters
CPA/CMA
Credit Reference Services/Bureaus
Custom House Broker
Customs & Forwarding Agents
Data Processing Services
Database Managers
Day Spas
Decorators – Interior
Dental Laboratories
Designers
Dieticians (Consulting)
Directors
Directors and Officers
Documentary creators
Employment Agencies
Employment Agencies/Recruiters
Employment Placement Agencies
Energy Audits & Assessments
Engineers
Environmental Engineers
Event Planners
Excess & Umbrella Liability
Filmmakers
Fitness Clubs
Foreign Legal Consultants
Holistic Professional
Home inspectors insurance
Immigration Consultants
Independent Contractor
Industrial Designers
Information Technology
Interior Designers
IT Contractor
IT Specialist/Technician/Programmer
Journalists
Lawyers
Lawyer’s Excess Professional Liability
Long Term Care
Management Consultants
Mediators
Medical Clinics
Medical Devices
Medical Professionals (Malpractice Insurance)
Medical Related
Medical Student Malpractice Insurance
Mortgage Brokers
Multimedia designers
Naturopaths
New Media
Occupational Health and Safety Consultants
Paralegals
Photographers
Placement Agencies
Podiatrists
Private Investigators
Process Servers
Product Designers
Professional Entertainers
Professional Organizer
Professionals Liability
Project Managers
Property Managers
Publishers
Publishers and Printers
Quality Control Consultants
Recruiters
Recruitment and Employment Agency
Recruitment Consultants
Research & Development
Roofing Consultants
Safety Engineers
Service Organizations
Solar & Wind Farm Engineers & Consultants
Spa Package
Structural Engineers
Sub-Contractor
Surveyors
Tax Prepares
Technology Companies
Therapist Professionals
Town / Urban Planners
Training Providers/Trainers
Translators etc.
Travel Agencies
Travel Agents
Travel Agents, Tour operators
Web Designers
Web-Site Designers
Workplace Engineers & Consultants

What Does E&O Cover?

Here at ProfessionalsCoverage, we offer a variety of unique E&O policies that can protect your company in certain situations.

  • Negligence – Whether you give misinformation or provide a service that results in a financial loss to your customer, our negligence protection can cover you. Whether you are actually at fault our not, this coverage will protect you.
  • Defense Costs – Even if you aren’t at fault, you are going to be dragged into court, which will result in hefty lawyer and court costs. E&O insurance can cover these costs, regardless of the situation.
  • Copyright Infringement – There might even be situations when some customers, clients, or business competitors claim that you stole their ideals or business models. E&O can protect you from these types of claims.

Our E&O policies even offer the protection that you need for previous jobs and advice, regardless of where in the world the job was performed or where the advice was given.

Cost For Errors And Omissions Insurance

It is true that there are some businesses in the Ontario area that are more in need of error and omissions insurance than others. Sure, this might increase the cost of their coverage policies, but it really means that these at-risk businesses really depend on this policy for certain protection. With that being said, there truly are a variety of factors that can determine your business’s overall cost for error and omissions insurance.

  • Business Type – The type of business that you are in can make a major difference in the price of your policy.
  • Location – If you are located in a bad area or a high-risk area, there is a good chance that you might have to pay more for E&O coverage as well.
  • Selected Coverage Limits – A company that needs a $2,000,000 claim is going to have to pay more than a company that needs a $1,000,000 policy.
  • Employees – The number of employees that you have can also make a difference in the overall cost of your policy. Companies with more employees will be expected to pay more, because they are at a higher risk.

As mentioned above, each company is going to need a certain amount of coverage and different business insurance policies that include Errors and Omissions Insurance Ontario. This is why it is best to let one of our expertly trained professionals customize your policy for you.

Our agents can help you decide on the amounts and types of coverage that you need to ensure that you, your business, and your employees are protected at all times. You can get free quotes from our website or you can get the toll-free number and speak with one of our agents. We are standing by 24/7 to assist Ontario businesses, small and large.

Get a Quote

get a quote now

Other useful information

 

Other types of insurance we provide:

 

To learn more about the types of insurance we offer, you can click here.