Professional Liability Insurance for Saskatoon IT Contractors
IT consultants in Saskatoon are exposed to risks from system errors, data breaches, or implementation failures. E&O insurance helps protect your contracts and credibility.
Errors and omissions insurance for IT professionals in Saskatoon
Businesses rely on technology and IT systems for their operations. A mistake in IT can have a major financial impact. This can result in a lawsuit against you. Luckily, EasyCover offers professional liability insurance for IT contractors in Saskatoon (also known as PLI). This coverage will help protect you if you’re sued for causing financial loss as a result of your professional service or advice. Commonly known as errors and omissions insurance in Saskatoon or E&O insurance, this is a must-have for any IT professional!
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’s covered by professional liability insurance for IT contractors in Saskatoon?
Professional liability insurance is designed to protect IT contractors in Saskatoon if they are sued for causing financial loss to a third party due to their professional service or advice. It helps cover legal expenses like defence costs, judgement awards and settlements.
All of our policies include retroactive cover. This is a huge benefit to you as it means claims made during your policy period, which arise out of your previous actions are insured while you have a policy in effect with us. Just remember you must disclose any potential claim as soon as you’re aware.
EasyCover offers three limits for our professional liability insurance: $1,000,000; $2,000,000; and $5,000,000.
Choose the policy limit that best reflects your business needs and consider:
- The average cost of a lawsuit in your industry or specialty.
- Your annual revenue.
- The number of clients you have.
- The value of each contract or project.
- The likelihood of a lawsuit.
IT professionals in Saskatoon EasyCover has supported
We can insure many different IT specialists living in Saskatoon including:
- CRM System Specialists
- IT Facilities Manager
- IT Hardware Consultant
- IT Hardware Sales & Supply Consultant
- IT Network Architect
- IT Outsourcing Consultant
- IT Program Manager
- IT Project Manager
- IT Security Consultant
- IT Software Consultant
- IT Software Developer/Programmer
- IT Software Sales
- IT Software Tester
- IT System Analyst
- IT System Designer
- IT Training Consultant
- Network Communication Consultant
- PC/IT Network Support Consultant
- Search Engine Optimization Specialist
- Telecommunications Consultant
- Website Designer
If your specialty isn’t listed here, contact us and we’ll see what we can do for you.
Examples of IT Professional Liability Insurance Claims
Here are a few examples of claims that can be made against Saskatoon IT professionals.
A software product you created doesn’t operate as intended, resulting in a financial loss for your client.
You accidentally infringe on the intellectual property of a third party while creating software for your client.
You unintentionally breach confidential information about your client during the process of working on their IT infrastructure.
PLI costs for Saskatoon IT professionals
How much does professional liability insurance cost for IT contractors in Saskatoon?
Professional liability insurance may starts at $440 per year for IT contractors in Saskatoon. Your rates will depend on many factors including:
- Your annual revenue.
- Where you operate.
- The number of employees you have.
- The type of IT work you do.
- Your insurance options.
Here are some examples of what you may pay for professional liability insurance as an IT professional in Saskatoon:
- An IT software consultant in Saskatoon earning $450,000 per year may pay $1360 for basic professional liability insurance. Given their annual revenue, they may want to increase their coverage to $5,000,000 which may see them paying $2300 per year.
- An IT systems analyst in Saskatoon making $90,000 a year may pay $440 for basic professional liability insurance.
- A network architect earning $115,000 per year in Saskatoon may pay $660 per year for basic professional liability insurance.
Remember, these are just examples, and your own rates may be different.
Optional coverages available for IT professionals in Saskatoon
We offer three optional business insurance coverages for IT contractors in Saskatoon: commercial general liability, cyber liability and director and officers liability.
Commercial General Liability Insurance
CGL helps cover costs if a third party is injured or has their property damaged due to negligence on the part of you or your employee. A common example is someone slipping on the ice outside your company’s premises. If that individual injures themselves, they could sue your business to cover their costs.
Note that commercial general liability doesn’t cover injury to your company’s property or your employees.
Cyber Liability Insurance
Cyber liability helps cover the costs of recovering from a cyber-attack or data breach. This includes legal expenses, regulatory fines, public relations fees and other costs. As an IT professional, you understand the threat of cyber-attacks and the importance of having coverage for this risk.
Directors and Officers Liability Insurance
Directors and officers liability helps cover your legal expenses if you’re held personally liable for violating your duties in your role of director or officer. This helps protect your personal assets.
Why should IT professionals in Saskatoon work with EasyCover by Acera Insurance?
Saskatoon IT consultants and contractors can rely on EasyCover to find the best insurance to meet their professional insurance needs. We offer the following benefits:
- Excellent coverage.
- Competitive rates.
- Convenient, digital solutions.
- Real-time quotes on key coverages.
- Ability to purchase your policy online.
We’re one of the few digital options in Canada – you don’t need to speak to a broker to get insured! We provide the liability insurance Saskatoon IT professionals need to protect themselves and their business.
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.