Custom Computer Software Consultant Insurance

Custom computer software consultancy is a high-demand service in Canada. Technology has definitely changed over the past few decades. As technology continues to advance, companies and professionals are moving from brick-and-mortar establishments to e-commerce websites. This is a risky move, but a necessary one since nearly all Canadian consumers are following the same path.

For the Canadian companies that have yet to make the transition from brick-and-mortar to the Internet, now is the perfect time to start preparing. If your plans are to break the virtual divide in the near future, there is no time like now to start looking for a custom computer software consultancy firm. Why do you need to hire a custom software consultancy firm to run an online business?

First and foremost, an e-commerce store would not be possible without a computer software program. Now, this will not be some ordinary computer software program. No, it will be specific for your website. These programs are not available through land-based or e-commerce technology and electronics stores. They are only available through a custom computer software consultant.

A custom computer software consultant is a high-demand career that deals with clients from all walks of life. These professionals know the ins and outs of the latest computer software solutions. Canadian consumers can depend on these professionals to help them determine which computer software programs will work better for their new websites, technology inventions, and businesses.


Staying Under The Radar

Customer computer software consultancy plays a major role in helping businesses and websites get established in the modern world. The industry is filled to the brim with some of the best consultants who go beyond the norm to help their clients succeed in very competitive markets. By delivering high-quality custom software solutions to their clients, customer software consultants can ring in each new year with big profits.

Unfortunately, this is not going to be the turnout for every custom computer software consultant. In fact, more than a few of these Canadian professionals reported financial losses at the end of the fourth quarter. The factors that contributed to these losses are unclear, but it is possible that some of them were due to negligence claims.

Negligence is a dirty word in the customer computer software market. In fact, you will never hear software consultants utter the word under their breath. If you do, it is because they experience a financial loss due to a careless activity.

In such a high-demand industry, how is it possible for custom computer software consultants to stay under the radar? Remaining low-key is everything to these professionals, other than high consumer visibility, software consultants want to remain under the radar. What is the purpose of staying under the radar for these experts? First and foremost, it is crucial to continue working without too many interruptions, which have the potential to result in financial loss.

When you are faced with a third-party negligence claim, you are no longer under the radar. The disgruntled client will make sure of it. Your name will be dragged through the dirt for the rest of your career, especially if you have a big financial burden associated with a negligent claim looming over your head.

No professional wants this type of negative attention. Unfortunately, not all are fortunate enough to go unscathed for the entirety of your career. There will be minor customer complaints here and there and one day, you are facing a major negligence claim that could very well transition to a full-blown lawsuit.


Custom Computer Software Consultant Liability Insurance

It is possible to stop a negligence claim in its track with the help of professional custom computer software consultant liability. This insurance policy is designed with the professional in mind, offering financial protection when necessary. 

Liability covers financial loss linked to negligence claims, out-of-court settlements, and monetary court judgments. With a quality liability policy on your side, it is possible to keep your case out of court by offering the plaintiff an out of court monetary settlement. 

Instead of paying out of pocket, the liability policy will cover the settlement. How much professional liability insurance coverage does a custom computer software consultant need? The coverage amount will vary from one consultant to another.

The liability insurance experts at ProfessionalsCoverage can help you get the right coverage at the right price. Never pay too much for liability insurance coverage with the help of ProfessionalsCoverage, the Canadian liability insurance specialist.


PLI – What About The PLI Coverage Requirements

The cover amount requirements will depend on your risk exposures, workload, and other factors. Since custom computer software consultancy is considered a high-risk career, your risk exposures are going to be out the roof. This theory definitely applies to consultants with heavy workloads. When you work for several clients at the same time, your risk exposures increase drastically, calling for a higher cover amount.

Since custom computer software consultants are working in a high-risk industry, it is a good idea to start thinking about a customized liability policy. What is a customized liability insurance policy? 


Customized Liability Policy – What Is It?

A customized liability policy is a combination of coverage types, such as professional liability, general liability, business liability, employer liability, and commercial general liability. All of these liability policies offer unique coverage options. Depending on your situation, it may be necessary to carry one or more of these coverage types.


Professional Liability Insurance (PLI)

PLI is specific for professionals. It covers financial loss associated with negligence claims. For example, a consultant implements a custom computer software program without collecting data regarding the client’s existing digital asset network. The implementation failed because it did not include this very important data. What do you think happened in this case?

It is obvious, the custom computer software implementation failed and failed miserably, at the very least. The client experienced a financial loss of over $200,000. The consultant, on the other hand, lost a valuable client due to negligence. What is the next appropriate step for the parties? This will depend on the software consultant, whether or not he/she has an active PLI policy. If so, the next step will be to file a claim against the insurance policy.


General Liability Insurance (GLI)

GLI is another very important liability policy. Unlike PLI, GLI covers financial loss associated with mishaps, such as bodily injury and property damage. This policy can pick up where your PLI policy leaves off. For example, a custom computer software consultant committed a negligent act that results in a financial loss of $10,000 and property damage valued at $50,000. The consultant’s PLI policy covered the financial damage while the GLI policy covered the property damage claim. 

Depending on the PLI and GLI cover amounts, it is possible the consultant came through unscathed. 

General liability insurance also covers breached contractual agreements, personal injuries, and damages physical in nature.


Business Liability Insurance

Business liability insurance is very similar to professional liability insurance. The only difference is the applicant, which in this case is a business owner. PLI, on the other hand, covers professionals. 

Business liability insurance offers the same coverage as PLI policies. It covers financial damage related to third-party claims. If you are a licensed custom computer software consultant and the owner of a software consultancy firm, you should definitely incorporate business liability coverage into your customized liability policy.

As far as liability insurance goes, you can never have enough coverage. 


Employer’s Liability Insurance

Employer’s liability insurance should not be mistaken with worker’s compensation. The two policies are very different, worker’s compensation offers financial protection to workers injured in the workplace. Employers liability insurance, on the other hand, protects employers from financial loss associated with workplace injuries. 

Worker’s compensation is one of the most universal insurance policies, but it only works for part- and full-time Canadian workers. Unfortunately, there are a few workplace mishaps that are not covered under a worker’s compensation policy. While these are few and far between, a few still exist today.

Employers liability insurance covers financial damage associated with workplace discrimination, harassment, wrongful termination claims, and other workplace-related issues. None of these claims are covered under worker’s compensation policies.


Commercial General Liability Insurance

Commercial general liability (CGL) insurance covers bodily injury and property damage associated with commercial operations. For example, a client’s pool is completely ruined during a commercial upgrade. It is obvious, the business is responsible for this catastrophe. In fact, a thorough investigation by the insurer will validate this theory. This validation warrants a CGL payout to the client to cover the repairs or replacement cost. 

Commercial establishments are not above mishaps. In fact, they are prone to mishaps. Regardless of the employee numbers, a commercial entity has risk exposures that increase with a higher number of workers, job duties, open contracts, and senior staff members.


ProfessionalsCoverage – Make Your Liability Policy Happen Today!

ProfessionalsCoverage works around the clock to help Canada’s finest professionals and companies locate reputable insurance brokers. Whether you are looking for a core PLI or commercial liability insurance policy, these experts will pave the way to a reputable insurance agency.


Consultants Disability Insurance

You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.

Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.

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Other Types of Consulting Businesses we insure:

If your specializing is not mentioned below, have no worries. Our insurance markets can provide liability coverage for the majority of consulting businesses.





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