Professional Liability Insurance for Financial Services in Saskatoon
Financial advisors and planners in Saskatoon need protection against claims tied to investment losses or guidance missteps. E&O insurance helps secure your practice.
Errors and omissions insurance for financial professionals in Saskatoon
As a financial service provider, your professional service and advice can have a real impact on your clients. If a client sues you, could you cover the costs out of pocket? For most businesses, a lawsuit is financially devastating.
Luckily, there’s EasyCover. We make it easy to get professional liability insurance for financial services in Saskatoon. It takes less than five minutes to get a quote and you can purchase your policy online, whenever and wherever is convenient for you.
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
The importance of E&O insurance for Saskatoon financial service providers
A financial services provider could be sued for causing financial loss to a third party as a result of their professional advice or service. Whether or not accusations are true, you will still need to defend yourself legally. Professional liability insurance can help financial service providers in Saskatoon cover these costs.
Our policies include retroactive cover, which means you’re covered for claims made during the policy period arising out of events that may have occurred prior to the policy inception date. Some conditions apply here, such as disclosing any situation that may result in a lawsuit.
We offer three levels of protection:
- $1 million
- $2 million
- $5 million
This is the maximum your policy will pay out over a 12-month policy term, no matter how many claims you make during this time. Financial professionals are advised to choose an amount that reflects their contractual requirements, the value of their work, and the likelihood and expected cost of a lawsuit.
Finance professionals in Saskatoon insured by EasyCover
EasyCover supports the following financial service providers in Saskatoon: :
- Financial analysts
- Bookkeepers
- CPAs (Chartered Professional Accountants)
- Financial compliance professionals
- Credit controllers
- Financial controllers
- Management accountant
- Payroll
- Regulatory reporting
- Treasury
If your specialty isn’t listed here, don’t worry. Contact us! If we can’t insure you, we will refer you to one of our colleagues at Acera Insurance.
Examples of professional liability insurance claims
Common professional liability insurance claims scenarios for Saskatoon finance professionals may include:
A client accuses you of making a mistake, costing them thousands of dollars. They sue you to recoup this money.
You lost an important document, causing a client to miss out on an application for funding. They sue you for this missed opportunity.
How much does professional liability cost for financial service providers in Saskatoon?
Professional liability insurance might start at $440 per year for basic coverage for financial services in Saskatoon. Your annual revenue, business operations, insurance options, number of employees and where you operate will impact your rates.
Here are some examples of what financial service providers might expect to pay for professional liability insurance in Saskatoon:
- A bookkeeper earning under $100,000 a year might expect to pay $440 for basic professional liability insurance. Cyber liability is an extra $150 per year and a basic commercial liability policy might start at $220 per year. (Remember, basic coverage is $1,000,000 of professional liability insurance.)
- A contract financial controller earning $115,000 per year might expect to pay $660 per year for basic professional liability insurance.
You can get a professional liability insurance quote for your financial services business in Saskatoon in less than five minutes!
Additional liability coverage options for finance professionals in Saskatoon
Through EasyCover we offer a number of other critical protections, including cyber liability insurance, directors and officers insurance, and commercial general liability insurance.
Commercial General Liability Insurance
Also known as CGL insurance, this coverage helps cover costs if a third party is injured or has their property damaged by you or an employee as a result of negligence. A common example is if someone visits your office, slips, falls and hurts themselves.
Directors and Officers Liability Insurance
If you’re held personally liable for breaching your duties as a director or officer, this coverage can help protect your personal assets. It can help with legal expenses such as defence costs, judgement awards and settlements.
Cyber Liability Insurance
In the financial industry, you handle sensitive information and could be a prime target for a cyber-attack or have drastic consequences if there’s a data breach. Cyber liability helps cover costs if this happens, including legal expenses, fines, public relations and more (up to your policy limit).
Do financial service providers really need professional liability insurance in Saskatoon?
Could you afford to cover the costs of a lawsuit out of pocket? For most financial services businesses, the answer is no. Professional liability insurance gives you peace of mind as it will help cover these costs.
Furthermore, professional liability insurance may be required by your professional association, regulatory body, or contracts. It also looks appealing to many prospective clients.
EasyCover by Acera Insurance offers instant, online coverage for financial service businesses in Saskatoon. We make it easy to get great professional liability coverage.
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.