Professional Liability Insurance for Toronto IT Consultants
IT consultants in Toronto face liability for data loss, implementation issues, or system failures. E&O insurance protects you from claims that could derail your business.
Errors and omissions insurance for IT professionals in Toronto
If you’re a Toronto IT contractor or employee working in the technology industry in the GTA, if something goes wrong – even if you aren’t directly responsible – your clients could accuse you of negligence and take legal action against you for damages. Many clients have cyber liability insurance and commercial general liability Insurance, but these won’t cover you should you be accused of providing a faulty professional service or advice.
Fortunately, EasyCover offers Toronto IT professional liability insurance. This unique form of coverage can protect you when the unexpected happens with any hardware and software you may have worked on. It’s the ultimate protection for Torontonians working in IT and high tech.
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
Understanding E&O insurance for Toronto IT consultants
Lawsuits can be incredibly costly—and without the right insurance, IT and computer consultants in Toronto could be stuck paying legal fees out of pocket. That kind of financial hit could devastate your business and even put your personal assets at risk. Professional liability coverage helps protect what you’ve worked so hard to build.
Why do IT consultants in Toronto need professional liability insurance?
With professional liability insurance, information technology contractors in Toronto can receive peace of mind knowing their EasyCover E&O insurance policy has them covered in the event a professional mistake is made.
No matter how knowledgeable or skilled you are, accidents can happen. In the event of the unanticipated, a client could sue you to recover any financial loss they believe stemmed from your professional advice or service. In such a scenario, only professional liability insurance (also known as errors and omissions insurance) offers the protection you need to defend yourself and your reputation.
What does professional liability insurance cover for IT contractors in Toronto?
Professional liability insurance covers legal defence costs related to claims of negligence, mistakes or omissions in advice or service causing financial loss.
In particular, professional liability insurance can help IT consultants in Toronto cover:
- legal fees, such as hiring a lawyer, when defending yourself and your work against claims of financial losses—whether the claims are true or not.
- settlements and judgement awards in cases where you are in the wrong and must pay your client restitution.
IT professionals in Toronto insured through EasyCover
We can insure many different IT specialists living in Toronto including:
- CRM Systems Consultants
- IT Facilities Managers
- IT Hardware Consultants
- IT Hardware Sellers and Suppliers
- IT Network Architects
- IT Outsourcing Consultants
- IT Program Managers
- IT Software Consultants
- IT Software Programmers
- IT Software Sellers
- IT Software Testers
- IT Systems Analyst
- IT System Designers
- IT Trainers
- Network Communication Consultants
- PC / IT Network Supporters
- Search Engine Optimization Consultants
- Telecommunication Consultants
- Website Developers
Don’t see your specialty above? Not to worry. 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 Toronto IT contractors and technology professionals.
Intellectual property infringement
While installing/developing software or hardware, you accidentally infringe on intellectual property owned by your client or a third party.
Breach of confidentiality
You unintentionally reveal confidential information related to your client while working on their IT infrastructure.
Software failure
A software product you develop or install unexpectedly fails to perform properly, causing direct financial losses for your client.
Product breakdown
A custom-made IT product experiences an unforeseen breakdown causing financial damages and a business interruption for your client
Determining the level of coverage IT consultants in Toronto need
With EasyCover by Acera Insurance, we offer IT consultants across various specialties three options of professional liability insurance coverage:
- $1 million
- $2 million
- $5 million
Your coverage limit represents the maximum total amount you could receive for all claims that occur within your 12-month policy period, so it is important to understand your unique level or risk.
When choosing your level of coverage, we recommend Toronto IT consultants think about their level of experience, the scale of their projects and the potential costs required to correct common errors, which could occur. You can assess further by asking yourself these three questions:
- How many clients do I work for and how large are their companies?
- What type of operations do my clients specialize in?
- What is the overall value of the projects I work on?
The great thing about considering your coverage – you know your industry and clientele best. However, it is generally advisable to have greater coverage if you either work for numerous large clients or provide advice or service on advanced projects. If you currently work for multiple, high-profile clients on increasingly complex projects, definitely opt for a higher level of coverage to avoid being underinsured.
Optional coverages available for IT professionals in Toronto
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for Toronto’s IT consultants.
Commercial General Liability Insurance
Commercial General Liability (CGL) insurance is the foundation of business protection. It covers you if you—or one of your employees—accidentally injure someone or damage their property while on the job. Whether it happens at your office or on a client’s site, CGL insurance helps shield your business from costly claims.
Note that commercial general liability doesn’t cover injury to your company’s property or your employees.
Cyber Liability Insurance
As an IT professional, you are most likely aware of the dangers associated with cyberattacks. Cyber liability insurance is meant to help cover costs following an alleged or actual hacking event or privacy breach. This coverage offers support with business income interruption losses, defence costs, extortion fees, digital asset losses, and regulatory fines. Plus, our cyber liability coverage also includes network security liability and privacy liability.
Directors and Officers Liability Insurance
Directors and officers can be held 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. D&O insurance is designed to protect directors and officers. It covers legal expenses from claims brought by regulatory bodies, suppliers and vendors, employees, creditors, and customers.
Why do IT professionals in Toronto trust EasyCover?
Your time matters. Toronto IT consultants and contractors rely on EasyCover to find the best liability insurance to meet their professional needs. We offer the following key benefits:
- Excellent coverage.
- Affordable prices.
- Convenient, digital solutions.
- Instant quotes on key coverages, such as E&O, CGL, D&O and cyber.
- Ability to purchase your policy immediately online.
We were one of the first (and are still one of the few) digital options in Ontario – you don’t need to speak to a broker to get insured! We provide the liability insurance IT professionals in the GTA need to protect themselves, while ensuring the longevity of 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.