Professional Liability Insurance Ottawa
Affordable, fast, and essential—professional liability insurance in Ottawa covers you against costly legal action for service-related claims. Connect with a broker or get a quote online in minutes.
Errors and omissions insurance for professionals in Ottawa
If you’re a professional working in Ottawa and routinely offer services or advice, then you know you could be sued if a client believes you’ve made a mistake or left out important information—even if you think you haven’t done anything wrong.
Most commercial general liability insurance policies don’t cover claims related to services or advice you may have offered. Fortunately, the professional liability insurance Ottawa needs is available now from Acera Insurance and EasyCover.
We offer Ottawans multiple ways to secure comprehensive errors and omissions coverage. Connect with an Ottawa commercial broker or get an instant coverage with our easy-to-use online tool. Get a free PLI quote in Ottawa, secure your policy and pay for it—all in three easy steps.
Step 1:
Enter your information for a free E&O quote
Step 2:
Select the policy that works for you
Step 3:
Complete your policy purchase online
Get the professional liability insurance Ottawa professionals rely on and protect your finances and reputation. If you’re sued by a client or third party because they believe you’ve provided faulty services or advice, professional liability insurance in Ontario can help cover your legal costs.
Interested in purchasing your professional liability online in minutes?
Acera Insurance offers EasyCover where you can get a quote, bind your policy and pay online in only a few short minutes. Get comprehensive coverage and affordable rates quickly and easily.
Here are some of the benefits of EasyCover:
- Get free online quotes 24/7
- No long, confusing applications to fill out
- Purchase and manage your policy online
- Support by phone, email or chat
- Option to bundle with other coverages
Ottawa professional liability insurance explained
Professional liability insurance (also known as errors and omissions (E&O) insurance), is created to safeguard Ottawa-based professionals from allegations of negligence and/or errors and omissions
What does professional liability insurance in Ottawa cover?
Negligence can take many shapes and forms. Professional liability insurance for Ottawa professionals helps protect and defend businesses against allegations related to their advice or service. E&O insurance essentially helps off-set expensive legal fees in the event a lawsuit is brought against you.
Professional liability insurance can cover your business for:
- Settlements
- Legal fees
- Administrative fees
- Defense costs
- and more
This type of coverage is needed for two reasons:
- If you are contractually obligated to have insurance.
- To combat the high cost of a lawsuit if you are sued.
Lawsuits can be extremely costly. Depending on your industry, a professional liability policy in Ottawa will require your business obtains $1 million in coverage.
How does a professional liability insurance policy in Ottawa work?
Professional liability insurance is written as a claims-made insurance policy. This means only claims made during the coverage period are covered by your insurer.
PLI policies have two distinct features:
- Extended reporting date: the date in the future when claims may still be covered, even if your policy has ended.
- Unlimited Retroactive date: the inception of the policy period that may be set to a date in the past.
If your claim meets the criteria below, it should be honoured without issue:
- You only became aware of the grievance against you during the policy term.
- The claim is reported to us during the policy term.
In most cases, professional liability insurance policies assign the retroactive date to align with the policy’s inception date. As a result, any work performed before the commencement of that initial policy period would not be covered.
How do I get a professional liability insurance quote in Ottawa?
You can get a professional liability insurance quote by:
Acera Insurance provides E&O for Ottawa professionals
Whether you’re a contractor, business owner or employee operating in and around the National Capital Region, we can help. At Acera Insurance, we provided affordable professional liability insurance Ottawa businesses need for comprehensive coverage and peace of mind. Get errors and omissions insurance for a wide range of industries and professions in and around Ottawa, including:
Don’t see your profession or industry above? Contact us and we’ll see what we can do to support your commercial insurance needs.
Examples of professional liability insurance claims in Ottawa
Professional liability insurance helps defend businesses by covering legal expenses if they are sued for negligence or errors and omissions.
Here are a few examples of claims that an E&O insurance policy may cover:
While preparing documentation at a health clinic, you make an administrative mistake. This leads to unwarranted charges being added to a patient’s invoice.
In your role as a therapist, a client believes your counselling services have not delivered the expected results. As a result, they initiate legal action to recover the fees they paid.
As a marketing consultant, you inadvertently overextend your schedule and miss a vital project deadline. Your client files a lawsuit seeking compensation for lost time and opportunities.
Professional Liability in Ottawa: FAQs
A professional liability insurance policy may be legally required depending on your profession or occupation. For example, some professions such as lawyers, contractors, doctors, and real estate agents often have a professional liability insurance policy to protect their business from potential risks. Professions which require register with an association or accrediting body may require E&O coverage.
Your insurance company will share a document with you which serves as your proof of insurance. This is technically referred to as your certificate of E&O liability insurance.
Both professional liability insurance and commercial general liability insurance offer liability coverage to businesses. However, each one covers and is triggered by different types of losses. The policies may also be structured differently in how they come into effect when a claim is filed. CGL policies tend to be written in an occurrence form, while PLI policies may be written as claims made. This means that, with professional liability coverage, the policy will generally only respond to claims that are both made against your business and reported to your insurance provider during the active policy period.
Your errors and omissions policy does not cover any intentional harm, fraudulent acts, or criminal activity. It also will not cover any claims that would otherwise fall under the scope of another type of business insurance policy, such as CGL insurance, which covers third-party bodily injury or property damage.
How much does a PLI policy cost in Ottawa?
The cost of a professional liability insurance (PLI) policy in Ottawa is influenced by a variety of factors. These may include the size of your business, the number of employees, your chosen coverage limits, and annual revenue. Each of these elements plays a significant role in determining your premium.
Businesses operating within higher-risk sectors often face elevated insurance costs. For instance, professionals such as lawyers generally encounter higher premiums compared to those in lower-risk occupations, such as software developers.
Furthermore, organizations with greater annual revenue and multiple employees typically pay higher insurance rates. On the other hand, smaller enterprises with minimal or no staff will likely pay less.
Professional liability insurance offers critical protection for your business, helping to mitigate risks and safeguard your financial stability. By partnering with Acera Insurance, you benefit from expert guidance aimed at securing comprehensive coverage at a competitive rate. We invite you to complete a complimentary quote through our streamlined process.
Ottawa business resources
If you’re a consultant or business located in Ottawa, here are a few resources that can help you operate more effectively:
Ready to get your free online Ottawa professional liability insurance quote?
Simple answer a few questions to immediately receive a quote, bind your policy and pay online in only a few short minutes.