Professional Liability Insurance for Legal Services in Winnipeg
Legal professionals in Winnipeg face high liability risks. E&O insurance helps protect against claims tied to advice errors, missed deadlines, and professional negligence.
Errors and omissions insurance for legal professionals in Winnipeg
Legal service providers in Winnipeg are well aware of the costs of lawsuits. It’s important to protect your business with professional liability insurance in case a mistake causes financial loss to your clients. With EasyCover by Acera Insurance, we make it simple to get the right protection for your business. We’re online and available 24/7 and offer great coverage. Get a quote today or read on to learn more about professional liability insurance for legal professionals in Winnipeg.
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 Winnipeg legal professionals
Professional liability helps cover your legal expenses if you’re sued for causing financial loss to a third party as a result of your professional service or advice. This includes defence costs, settlements and judgement awards. For example, if you provide legal advice that a client believes is incorrect or misleading and it causes them a financial loss, they can sue you. Your professional liability insurance could help cover the legal costs.
Do I really need professional liability insurance?
We recommend all legal service providers in Winnipeg carry professional liability insurance. Depending on your specific profession, it may be required by your professional association. It is also likely required by contract with your clients. It is a selling point to be insured and it can keep you from having to cover the costs of an expensive lawsuit out of pocket.
How to choose the right amount of professional liability insurance coverage for legal professionals in Winnipeg?
We offer three optional limits of professional liability insurance for Winnipeg’s legal professionals:
- $1,000,000
- $2,000,000
- $5,000,000
This is the maximum amount that will be paid out regardless of the number of claims for a single policy period (12 months). You should consider the likelihood of a lawsuit, the average cost of a lawsuit in your industry, your annual revenue, the value of your contracts and the number of clients you have.
Keep in mind that our coverage is retroactive, meaning that you’re covered for claims that are brought during the policy period arising from actions that might have occurred in the past, before the policy inception date. Keep this in mind when choosing the amount of professional liability insurance you need for your legal services business in Winnipeg. Retroactive cover can be important for legal service providers given the length of time legal liability might take to manifest. Remember, you will need to disclose any potential claim situation to us, past or present.
Winnipeg legal professionals insured through EasyCover
With EasyCover by Acera Insurance, we have experience supporting the following legal professions:
- General legal support
- Legal secretaries
- Legal skills trainers
- Paralegals
- Professional support (PSL)
If your legal services occupation isn’t listed, feel free to contact us and we’ll see what we can do!
How much does professional liability insurance cost for legal services in Winnipeg?
The cost of professional liability insurance for legal services in Winnipeg depends on a few different factors, including:
- Your business operations.
- Your annual revenue.
- The number of employees you have.
- Where you operate (if you’re exclusively operating in Manitoba or if you take work from other provinces).
- Your insurance options, such as coverage and policy limits.
For example, a consulting paralegal making $80,000 a year might expect to pay around $440 for basic professional liability insurance. Adding cyber liability would cost an additional $150 per year and adding a basic commercial general liability policy would cost another $220 per year, not including provincial sales taxes.*
*To note, these examples are for reference only and do not indicate an agreed premium.
Optional commercial coverages for Winnipeg legal professionals
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for legal services in Winnipeg.
Commercial General Liability Insurance
Commercial general liability helps cover your legal expenses if you’re sued for causing bodily injury or property damage to a third party due to negligent acts. A common example is someone visiting your office and slipping, falling and injuring themselves. This coverage is recommended for all businesses with a physical office or space where clients or vendors visit.
Directors and Officers Liability Insurance
Directors and officers liability helps protect your personal assets by covering legal expenses if you’re held personally responsible for a breach of duty as a director or officer. This does not include criminal offences.
Cyber Liability Insurance
Cyber liability helps cover costs associated with a cyber-attack or privacy breach. This can include regulatory fines, public relations expenses, legal costs and more – up to your policy limit. Given the sensitive nature of the information you may have access to and the prevalence of cyber-attacks on businesses of all sizes, this is also important coverage to consider.
Why should legal professionals in Winnipeg select EasyCover by Acera Insurance?
Winnipeg legal services professionals should choose EasyCover for their professional liability insurance because we offer:
- Excellent coverage.
- Affordable rates.
- Quick and convenient quotes.
- Option to purchase your policy online.
If you want a straightforward, convenient insurance experience, we can help. We’re online and available 24/7. Get a quote in under a minute and purchase professional liability insurance easily and quickly.
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