Professional Liability Insurance for Canadians
At Western Financial Group, we are expert insurance shoppers who want to help you save. We work with Canada’s leading insurance partners to get you the right coverage and value. We know how important it is to protect what you’re building.
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Insurance for Professional Services
Errors are part of human nature and they can and do happen in business. Edmonton professionals need errors and omissions (E&O) insurance for protection against claims of professional negligence or claims of errors and mistakes.
With E&O insurance, you will have protection from financial loss and reputational damage that can result from allegations of professional negligence, errors, misconduct, or failure to deliver services. You may also hear it called professional liability insurance.
What professionals need errors and omissions insurance?
If you are providing professional services, consulting, or advice, you need to protect yourself with professional liability (E&O) insurance.
Some examples of Edmonton professionals who need this type of insurance:
- Architects
- Accountants
- Consultants
- Contractors
- Directors and officers on boards
- Engineers
- Event planners
- Financial services professionals
- Health professionals
- Interior designers
- Lawyers/Paralegals
- Marketing professionals
- Mediators
- Real estate agents
- Social services professionals
- Technology consultants
- Wedding planners
Do I need E&O insurance if I am not in a traditional field as a Edmonton professional?
Yes, you do in order to protect yourself from lawsuits and reputational damage. Any professional providing services can face claims of negligence including if you are self-employed.
What determines how much errors and omissions insurance will cost you as a Edmonton professional?
- Your field of professional services
- Years of experience
- Annual revenue
- Number of employees
- Location
- Past claims
What is E&O Insurance?
E&O insurance, also known as professional liability insurance, gives you financial protection from errors, omissions, and negligence when providing agreed-upon services.
It also covers failure to deliver a service as promised and media and advertising services that result in your client getting sued for defamation, libel, or slander.
Errors and omissions insurance builds on your credibility and trust with your clients and shows them that you are committed to professional standards.
3 examples of how errors and omissions insurance protects you
- You are an event planner and you mistakenly put the wrong time for an event both online and in print advertising. The host of the event sues you for the error. E&O insurance would help protect you in this case.
- You are in interior designer and have gone over budget and over the homeowner’s deadline to complete a redesign of a client’s house. E&O insurance would help cover the liabilities stemming from the budget overruns and delays in the completion of this project.
- Your financial projections were wrong for a company and you are being sued for negligence. E&O insurance will help cover your legal expenses, including defence costs, settlements, and awards up to your policy limit.
Insurance plays a crucial role in supporting contractors in Edmonton by providing various types of coverage that mitigate risks and protect their businesses.
By having the right insurance coverage, contractors in Edmonton can protect their businesses from significant financial losses, enhance their credibility, and ensure they meet legal and contractual requirements.
Need your Certificate of Insurance (COI) fast?
Some projects may require you to provide a certificate of insurance (COI). A certificate of insurance is issued by an insurance broker or company, and it shows that you have business
insurance. It is a summary or snapshot of your insurance policy, and it contains all the most important details, helping protect against third-party risk. Customers, businesses, or
independent contractors could ask to see proof of insurance before they agree to work with you. If the work you do has a high risk of loss or damage, you should have a certificate of
insurance.
When you get your insurance coverage through us, we will send you the certificate of insurance right away, so you can focus on what you do best.
Insurance for Auto Repair Garage
You’re an expert when it comes to repairs and your customers trust you with their cars, trucks, and SUVs.
You might not be an expert, though, in knowing how to get the right insurance to protect your auto repair garage from any mishaps, property damage, injuries, or third-party claims.
Musician Insurance
Are you a musician in Edmonton? Are you a solo artist, in a band, or an orchestra? Do you have any insurance? You need at least liability insurance to protect yourself in the event you should be sued.
You can protect yourself with musician insurance. It’s a customized package of insurance coverages to protect you, as an Edmonton musician, and your livelihood.
Insurance for HR Consultants
As an Edmonton-based HR consultant, a client could sue you if they believe you made an error or acted negligently in your duties. Insurance for HR consultants helps protect you from the professional risks you can face.
Insurance for independent Edmonton human resources consultants can help cover your legal expenses should you be taken to court for any services or advice that you have provided to clients.