Professional Liability Insurance for Financial Services in Toronto
Financial advisors in Toronto can be sued over advice or investment performance. E&O insurance offers vital protection against client loss claims and misrepresentation.
Errors and omissions insurance for financial professionals in Toronto
If you’re a Toronto-based accountant, financial advisor or financial planning professional, you run the risk of malpractice if a client believes you’ve mishandled their finances or offered inaccurate financial advice. In those situations, a Commercial General Liability Insurance policy may not cover your legal costs.
The easiest way to protect yourself is with professional liability insurance (also known as errors and omissions insurance). EasyCover Canada offers Toronto financial services professional liability that can help ensure you’re covered when providing services or advice to a client. It’s the perfect way for Torontonians working in finance to protect their professional reputations.
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
Why do financial professionals in Toronto need professional liability insurance?
Already have business insurance? You might think you’re fully protected—but if you give financial advice or services in Toronto, professional liability insurance is a must. It’s the only policy that covers claims when a client says your advice cost them money.
For example, a client could sue to recover lost revenue they allege resulted from your:
- accounting mistakes;
- incorrect tax advice;
- improper filing of paperwork; and more.
Regardless of whether or not you are actually guilty, you will need to defend yourself against these allegations. Unfortunately, lawsuits are expensive and can be quite devastating for your business. Thankfully, if you purchased professional liability insurance, your policy will help cover:
- defence fees, such as hiring a lawyer;
- lost wages due to attending court; and,
- restitution, such as a settlement or judgement awards. cost of a lawsuit.
Toronto financial service providers insured with EasyCover
We can provide service for the following financial professionals in Toronto:
- Financial analysts
- Bookkeepers
- CPAs (Chartered Professional Accountants)
- Financial compliance professionals
- Credit controllers
- Financial controllers
- Management accountant
- Payroll
- Regulatory reporting
- Treasury
Don’t see your profession listed above? Not to worry. Contact us anyway.
We may be able to offer you coverage or can refer you to a trusted insurance partner.
Professional liability insurance claims for financial professionals
Here are some typical claims scenarios financial professionals in Toronto may experience.
Client suffers monetary loss
Following poor and inaccurate advice given to a client, they suffer a substantial monetary loss and sue for the recovery of those lost finances.
Administrative mistake
:A mistake is made which results in significant loss for a client, who is now holding you liable for the loss.
Missed deduction
As a tax accountant, you miss a large deduction and the client has to pay extra taxes and late penalties. They hold you liable for these extra costs.
Why do finance professionals in Toronto select EasyCover by Acera Insurance?
In today’s busy world, your time is valuable. You have enough other demands and concerns to focus on besides researching the best E&O insurance coverage for financial professionals in Toronto. With EasyCover, we make the process of getting your insurance as quick and easy as possible. Enter a few key pieces of information into our online quoter and you can receive a price right away. If you are comfortable with your selections, you can even pay online immediately. Plus, our digital tool is available 24/7, so you can secure your coverage whenever it is best for you (no need to wait to hear back from a broker). Save time, save money – secure your policy with EasyCover.
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.