Regulation, regulation, regulation, a common term in the workplace. Without regulations, there would be no control. Your employees and senior staff members would do whatever they wanted without too much thought. Thankfully, someone came up with the idea to regulate specific processes to ensure more control, organization, and legalities.
Everything Canadians do is regulated to some degree. When you build a new house, the process is regulated, when you update a commercial electrical panel, the process is regulated, when a consumer applies for a loan, the process is regulated.
Regulations are commonplace in every industry, workplace, and setting. As a Canadian regulatory consultant, you spend most of your valuable time helping businesses, nonprofits, government entities, hospitals, and professionals create new and improve their regulatory standards.
There is a lot involved in regulatory development and improvement. First and foremost, the consultant must become familiar with the existing regulations before improvements are even thought about. When you create regulations from scratch, the process is still drawn-out beyond belief.
What About The Regulatory Consultant?
Sometimes consumers forget about the services they hire to perform specific tasks. They are blind to the fact that these professionals and companies are exposed to endless risk exposures. While going about your own business, your risks are looming overhead.
Unfortunately, many professionals, such as regulatory consultants, get so comfortable in their profession that they often forget about their risks. While this is a very common behavior among Canadian professionals, there is no way to make these risks go away.
Your risk exposures should always be in the back of your mind. Of course, this will do nothing to keep them at bay, but at least you will be aware of their presence. When professionals forget about their risks, they are only putting themselves out there more.
It is also just as important for consumers to realize professionals are not perfect. They are prone to mishaps just like themselves and others. Keeping this in mind, it is crucial to find an effective solution that will minimize your risk exposures. One particular solution that comes to mind when speaking of professional risks is Professional Liability Insurance (PLI).
PLI policies are specifically designed to protect professionals from some financial loss associated with third-party claims and laws. The policy is activated when a negligence claim is deemed “legitimate.”
How Are PLI Negligence Claims Investigated?
PLI negligence claims are a priority for Canadian insurance brokerages. These professionals play a neutral role in the claim process. They handle and oversee the investigation to ensure fairness for all involved parties.
Professionals do not get up every morning thinking today is the day I will have a mishap. And, it just happens out of nowhere. In the real world, mishaps never play out like this. In fact, most professional mishaps occur at the drop of a hat, giving no advanced warning.
An investigation begins almost instantly following the claim. Once the claim is submitted to the responsible insurer, an investigator is assigned to the case. The investigator will review the claim before the physical investigation is initiated.
Contact ProfessionalsCoverage to learn more about your other liability insurance options.
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.
Types of disability insurance
- Long-Term Disability Insurance (LTD)
- Short-Term Disability Insurance
- Key Person Disability Insurance
- Self Employed Disability Insurance
- Mortgage Disability Insurance
- Temporary Disability Insurance
- Supplemental Disability Insurance
Need coverage in effect? Compare the market!
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.
- Acoustic Consultant Insurance
- Agricultural Consultants Insurance
- Branding Consultant Insurance
- Business Consultant Insurance
- Business Management Consultants Insurance
- Custom Computer Software Consultant Insurance
- Environmental Consultants Insurance
- Education Consultants Insurance
- Energy Conservation Consultant Insurance – Commercial/Industrial
- Ergonomics Consultant Insurance
- Fashion Consultant Insurance
- Fire Protection Consultant Insurance
- Fire Safety Consultant Insurance
- Forestry Consultant Insurance
- Fuel Efficiency Consultant Insurance – Domestic
- Fuel Efficiency Consultant Insurance – Commercial/Industrial
- Executive Consultants Insurance
- Health and Social Care Consultants Insurance
- HR Consultants Insurance
- Linguistic Consultant Insurance
- Management Consultant Insurance
- Marketing Consultants Insurance
- Market Research Analyst Insurance
- Noise And Vibration Consultant Insurance
- Planning Consultant Insurance
- Personal Consultants Insurance
- Printing Consultant Insurance
- Publicity Consultant Insurance
- Public Relations Consultant Insurance
- Quality Control Consultant Insurance
- Regulatory Consultant Insurance
- Research Consultants Insurance
- Risk Management Consultants Insurance
- Safety Training/Consultant Insurance
- Security Consultant Insurance
- Technical Consultants Insurance
- Theater Lighting Consultant Insurance
FAQ before purchasing liability insurance
- How much professional liability insurance do I need?
- How do I get a liability insurance policy?
- What does professional liability insurance cover?
- What is the difference between claims made & occurrence form of coverage?
- When will I need to be insured?
- What other professions need this type of insurance?
Other useful posts you should also read
- Canadian insurance companies that provide professional liability insurance
- How does the claims process work if I get sued because of my professional services?
- What is the cost of professional liability insurance?
- How do I apply for a professional liability insurance policy?
- How do I qualify for coverage as a professional service provider?
- What is the purpose of getting insured as a professional?
- How long will it take to get an insurance quote for my business?