Professional Liability Insurance — Protect Your Expertise
Even the best professionals make mistakes. Professional liability insurance (also called Errors & Omissions or E&O) covers the cost of defending claims that your advice or service caused financial harm to a client.
What is Professional Liability Insurance?
Professional liability insurance, also known as Errors & Omissions (E&O) insurance, covers businesses and professionals if a client claims your work, advice, or failure to deliver a service caused them financial loss. It covers legal defence costs, settlements, and judgments.
What's Covered
- Legal defence costs for negligence claims
- Settlements and court judgments
- Claims of errors, omissions, and professional mistakes
- Breach of contract disputes
- Missed deadlines and failure to deliver
- Intellectual property infringement in professional work
Who Needs This Coverage?
Consultants, accountants, lawyers, engineers, architects, IT professionals, designers, real estate agents, financial advisors, and any professional providing advice or services should carry E&O insurance. Many client contracts require it.
How Much Does It Cost?
Professional liability insurance in Canada typically starts at $50–$150/month depending on your profession, revenue, and coverage limits.
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Did You Know?
Many commercial contracts and leases require proof of insurance before you can start work.
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