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Professional Liability Insurance in Calgary
If you’re a professional based in Calgary who offers a service or advice, you could be sued at any point by a client who thinks you have made a mistake . Even if you’ve done nothing wrong – you will still be responsible for the costs associated with defending yourself against these claims. That’s why having professional liability insurance in Calgary is so important. You wouldn’t want to find yourself in hot water without protection.
Generally, commercial general liability insurance policies will not cover claims for financial loss related to advice or services that you offered in your professional field. But with EasyCover Canada, you can protect your Calgary business with professional liability insurance. If you are sued by a client or third-party because of financial loss due to a real or perceived mistake or misrepresentation, professional liability insurance for Calgary professionals can help you pay your legal expenses for covered claims.
We keep it easy for you to get professional liability insurance in Calgary with EasyCover’s online tool. Get a free quote or secure your policy in just three easy steps:
Step 1: Enter your information for a FREE quote.
Step 2: Select the policy that works for you.
Step 3: Pay online and receive your policy documents.
In as quick as five minutes, you can find, secure, and pay for your professional liability insurance policy. Calgary experts can rest easy knowing that their reputation and finances are protected by EasyCover’s professional liability insurance in Calgary. It’s fast, easy and simple.
How does professional liability insurance in Calgary work?
Sometimes known as “errors and omissions insurance,” professional liability insurance protects you from any claims that arise from service or advice you have provided to a client. Usually, a client sues due to financial loss as a result of a perceived or real mistake or misrepresentation in the course of your service or as a result of your advice. Professional liability insurance covers your legal expenses, including your defense as well as any awards or settlements (up to your policy limit) for covered claims.
EasyCover offers three levels of protection:
- $1 million
- $2 million
- $5 million
This is the maximum amount your insurance will pay out over the 12-month policy period for all claims combined. The level of protection you choose will depend on your industry, your clients, the value of your service or advice, and the estimated costs of a legal case.
For each claim, you’ll pay a deductible. This deductible is determined by your company’s revenue and ranges from $250 to $1500. Let’s say you had two covered claims and a deductible of $500. You’d pay $1000 that year in deductibles, but the rest of your legal costs would be covered.
Calgary professionals have liability insurance coverage to protect their personal and business finances. Even if you’re innocent, you still have to pay for your defense. Professional liability insurance helps Calgarian professionals avoid financial hardship in the event they’re sued.
In certain professions, professional liability insurance is required by law. For example, in healthcare, this coverage is required due to the high stakes and high incidence of litigation. If you’re a contractor, you’ll find that many contracts stipulate that you must have professional liability insurance as well. This type of coverage gives your clients peace of mind that they’ll get their money if they suffer a financial loss as a result of your service or advice… and you can work with confidence because you know you’re protected.
What does Professional Liability Insurance in Calgary cover?
Professional liability insurance in Calgary will cover defence costs if you are taken to court due to a claim of financial loss to a client relating to a service or advice you provided (or failed to provide).Claims that professional liability insurance covers include:
- Misrepresentation – If you provide advice that is inaccurate or misleading, a client could sue you for misrepresentation.
- Negligence – If you make a mistake in the course of providing your service or advice, you could be held liable for any financial loss incurred by your client as a result.
- Loss of Documents – If you lose important documents, your client can hold you financially responsible.
- Inaccurate Advice – A client could sue if they feel you have provided inaccurate advice that resulted in financial loss.
It’s important to note that EasyCover’s professional liability insurance for Calgarians does not include cases of deliberate dishonesty, misrepresentation, or fraud.
You can package professional liability insurance with general liability insurance to ensure you’re covered for general liabilities such as bodily injury and property damage – professional liability insurance won’t cover that on its own.
Protecting Your Business from Professional Liability Risks in Calgary
Whenever you offer a service or advice, you’ll be faced with liability risks. While having professional liability insurance is an important part of your defense, it’s always better to avoid litigation in the first place. You’ll save yourself so much stress!
Here are some additional measures you can take to lessen your chance of being sued:
- Stay Organized – Keeping yourself organized lessens your chance of missing an important communication or forgetting an important detail.
- Have a Clear Contract – Make sure your contract outlines exactly what is expected of you and the client. Make sure your deadlines and fees are clear.
- Communicate – Having open and honest communication is hard, but critical. Regular updates are a great way to keep everyone on the same page. Always clarify if you’re not 100% sure, especially if it’s regarding a deliverable.
- Keep Records – Always follow up a conversation with an email, confirming everything that was discussed. It keeps everyone on the same page and accountable. In the event you are sued, this is important documentation.
- Quality Control – Have procedures in place so that you can catch errors.
- Refer Out – If you can’t provide a service or the request goes beyond your knowledge, refer your client to someone who can help them.
Even if you do everything in your power to prevent them, mistakes happen. Easy Cover’s professional liability insurance helps give Calgary’s professionals peace of mind and protection for when things don’t go as planned.
EasyCover Provides Professional Liability Insurance to Calgary Professionals
EasyCover Canada provides cost-effective professional liability insurance in Calgary for businesses that require comprehensive coverage and peace of mind. Here are some of the Calgary-based industries and professions that EasyCover offers professional liability insurance coverage for:
If your business works directly with clients while providing its service, you might want to consider coverage with professional liability insurance. EasyCover can get you started on your professional liability insurance in Calgary today.
Calgary Business Resources
If you’re a consultant or business located in Calgary, here are a few resources that can help you operate more effectively:
Why Use EasyCover
If you provide advice or professional services to your clients, and are sued due to your alleged negligence, your Commercial General Liability policy may not respond. You need the protection of Professional Liability Insurance.
With EASYCOVER Professional Liability Insurance, you are protected against a broad variety of negligent acts, errors or omissions, backed by one of the oldest and most respected insurance providers in the world.
Get Canada’s first online Professional Liability Insurance at very competitive rates.
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