Professional Liability Insurance for Regina Management Consultants
Strategic decisions carry risk. E&O insurance for management consultants in Regina protects your business from claims related to operational advice, planning errors, or performance outcomes.
Errors and omissions insurance for management consultants in Regina
As a management consultant, you’re hired to plan, direct and monitor a specific area of a client’s business. The expectation, and your goal, is to steer the business towards success. But the reality is mistakes happen, no matter your level of expertise and knowledge.
That’s where professional liability insurance comes in. This coverage provides management consultants in Regina with protection should a client claim your advice or service resulting in financial damages.
Just as our name says, EasyCover makes it easy for management consultants to get the protection they need from unexpected lawsuits. The entire process—from getting your free quote to paying your premium—can be done online in about five minutes.
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
What does professional liability insurance cover for management consultants in Regina?
Professional liability insurance in Regina (also known as errors and omissions) can protect management consultants in Regina from shouldering the costs of an unexpected lawsuit.
Any mistakes in your professional advice or service, no matter how small, can have a significant impact on your client’s bottom line—which they can sue you for. This coverage can help you cover legal defence costs, such as legal fees, as well as any settlements or judgements you may have to pay.
The claims that management consultants face vary depending on your area of expertise; however, at a high level, a client can sue you for any errors, poor advice or negligent acts that cause them financial hardship. Professional liability insurance can help cover your defence costs against these claims, so long as the actions being brought into question were unintentional.
Management consultants insured by EasyCover in Regina
Management services vary greatly, which is why EasyCover provides coverage for consultants in Regina who specialize in the following management fields:
- Business process re-engineering
- Change management
- Company development and planning
- Distribution
- Estates and facilities
- Finance and accounting
- Human resources
- Operations
- Personnel management and selection
- Procurement management
- Quality systems
- Sales and marketing
- Training
FAQs: Understanding E&O Liability Insurance for Regina Management Consultants
Unlike auto insurance, which is mandatory in every province across Canada, professional liability is not legally required for management consultants in Regina. That said:
- Clients may require you to carry professional liability insurance. Your clients may stipulate that you have certain levels of insurance, including professional liability. Having this coverage reassures clients that you’re financially prepared to cover any unexpected expenses they might incur due to mistakes in your professional advice or service.
- You risk losing a lot without it. Not having professional liability insurance is like betting on never making a mistake. This is not a worthwhile gamble, especially since our society is becoming increasingly litigious. You’ll have to cover legal defence costs, settlements or judgements on your own if you don’t have professional liability insurance, which can be detrimental to the financial success of your business.
EasyCover offers three levels of professional liability insurance coverage:
- $1 million
- $2 million
- $5 million
It’s important to carefully consider your coverage as this is the maximum amount you’ll receive for all claims—including defence costs, settlements and judgements—within a 12-month period.
When it comes to determining your level of coverage, management consultants in Regina should consider:
- the type of clients you work for;
- how risky of an environment you and your clients operate in;
- the overall value of your work; and,
- the size of a legal claim that can be made against you.
You know your business, clients and the risk-level of your industry best; however, you can contact our professional liability insurance brokers if you’re interested in discussing your coverage options further.
The rates for professional liability insurance are based on a couple of factors, including:
- your area of specialization
- your company revenue
- the size of your company workforce
- your level of coverage
- your insurance and claims history
With EasyCover, professional liability insurance premiums for management consultants in Regina could start at $330 per year. You can also choose to bundle with additional liability insurance to ensure your business has comprehensive coverage.
Optional commercial coverages for management professionals in Regina
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for management consultants in Regina.
Commercial General Liability Insurance (CGL)
Commercial general liability insurance (CGL) is the most basic form of liability insurance. It offers protection in the event that you or any of your employees accidentally injure a third party or cause damage to their property while carrying out business operations. This includes any injuries or damages that occur on your premises or on a client’s property.
CGL insurance is considered a critical coverage option and if you have professional liability insurance but leave CGL out, you may leave your business vulnerable. We start CGL coverage at $1 million but you can choose higher limits if desired or required.
Directors and Officers Liability Insurance
Directors and officers can be held personally responsible for their actions while serving on a board of directors if they have acted outside the law or failed to perform their duties properly. Directors and officers liability insurance (D&O) is designed to offer protection for directors and officers, covering legal expenses from claims brought by regulatory bodies, suppliers and vendors, employees, creditors, and customers.
Criminal penalties or offences will not be covered as this type of loss is not insurable by law
Cyber Liability Insurance
Cyber liability insurance is designed to help cover certain costs following an alleged or actual hacking event or privacy breach. EasyCover’s cyber liability coverage includes network security liability and privacy liability. It may help cover the cost of network security and privacy breach costs, business income interruption losses, defence costs, extortion fees, digital asset losses, and regulatory fines.
Every policy has a specified limit, so be sure to familiarize yourself with yours and note any exclusions or separate deductibles.
Why choose EasyCover for your management consultants’ professional liability insurance in Regina?
Why do Regina management consultants trust EasyCover for their insurance needs? They choose us because we specialize in professional liability insurance, with coverage uniquely designed to protect consultants and a wide range of other professionals.
We’re one of the very few digital options in Saskatchewan (and Canada) where you can purchase insurance 24/7 online without needing to speak with a broker. We are committed to making the process of acquiring Regina management consultants professional liability insurance as easy as possible.
Ready to get your free 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.