Professional Liability Insurance for Vancouver Consultants
Business and strategy consultants in Vancouver can face legal claims tied to client outcomes. E&O insurance helps protect your advice and professional integrity.
Errors and omissions insurance for consultants in Vancouver
Prospective clients are not only looking at your pricing and services, they are also taking note of your reputation. If a current or former client feels that your professional advice or opinion led to their financial loss, they could sue you over financial damages. Not only could this be financially devastating to your business, but it could seriously hurt your reputation as a consultant, even if the claims are false.
Fortunately, having a professional liability insurance policy can help. EasyCover offers professional liability insurance for consultants across a wide range of industries, including software, marketing, HR and more!
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 PLI insurance for Vancouver consultants
What is covered by consultants’ professional liability insurance in Vancouver?
Professional liability insurance in Vancouver, also known as errors and omissions insurance, works to protect you and your Vancouver consulting business from financial damages that may result from your professional advice or opinions.
This type of policy differs from a commercial general liability (CGL) insurance policy, which protects your business from accusations of bodily injury and property damage. A CGL policy may not cover you in the event you’re accused of professional negligence in providing your services.
How much coverage should a consultant in Vancouver have?
The amount of professional liability insurance coverage you should have as a consultant in Vancouver is dependent on several factors. Before choosing your level of coverage, consider:
- The size and scope of your projects
- The financial value of the projects you’re working on
- How many clients you have
- Where your business operates
- Whether you are operating on a full-time or part-time basis
- The possible financial extent of lawsuit
After taking into consideration the above factors, you can choose your level of coverage. EasyCover offers three levels of coverage for consultants in Vancouver:
- $1 million
- $2 million
- $5 million
These coverages are the maximum amount you will receive for claims in a 12-month period.
If you have questions about how to choose how much coverage you need, we are here to help. Get in touch with our brokers by calling 1-844-439-2683 or by emailing info@easycover.ca.
Vancouver consultants insured through EasyCover by Acera Insurance
We’ve used our extensive experience and knowledge to create specialized insurance coverage for consultants in Vancouver. EasyCover has insured the following types of consultants:
- Business analyst
- Business/management consultant
- Business continuity consultant
- Business recovery consultant
- Business development consultant
- Change management consultant
- Compliance consultant
- Data analyst
- Health and safety consultant
- IT consultant
- Logistics consultant
- Management consultant
- Oil and gas consultant
- Project management consultant
- Risk management consultant
- Strategy consultant
If you don’t see your profession above, not to worry. Give us a call and we’ll see what we can do for you.
Common risks faced by consultants in Vancouver
As a consultant in Vancouver, unfortunately, there are many reasons a client could sue you. Some reasons could include:
You don’t meet the agreed upon terms or deadlines
You surpass the budget set at the beginning of the project
You gave advice to a client that results in them losing money
You are accused of defamation and slander from a client’s competitor
You neglect to file applications for a project, which leads to delays
You bring on sub-standard sub-contractors
How much does professional liability insurance for Vancouver consultants cost?
Every professional liability insurance policy rate varies because each consultants’ needs are different. Your rates will be affected by:
- The coverage level and deductible you choose
- Your insurance and claims history – the more claims you’ve experienced in the past, the higher your cost will likely be
- Your industry and type of business
- How many employees you have (if any)
- Your business’ yearly revenue
- Where your business is located and operates
- … and more
The easiest way to determine how much a Vancouver consultant professional liability insurance policy will cost you is by getting a free, no-obligation quote with us today.
Optional commercial coverages for professional consultants in Vancouver
Besides providing professional liability insurance, we offer Vancouver consultants additional business coverages.
Commercial General Liability Insurance (CGL)
Commercial general liability insurance is the most basic form of liability insurance. It offers protection in the event that you or any of your staff accidentally injure a third party or cause damage to their property while carrying out your regular operations. It includes injuries or damages which occur on your premises or on a client’s property.
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.
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.
Why choose EasyCover for your consultants’ professional liability insurance in Vancouver?
Why do Vancouver consultants choose EasyCover by Acera Insurance? We’re one of the very few digital options in Canada where you can purchase insurance 24/7 online without needing to speak with a broker. Our specialization is in professional liability insurance, with coverage uniquely designed to protect consultants and a wide range of other professionals. We are committed to making the process of acquiring Vancouver consultants professional liability insurance as easy as possible, which is why we’ve created our online tool.
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.