Professional Liability Insurance for Legal Services in Edmonton
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Edmonton’s legal professionals need to protect themselves if they’re sued for negligence when providing their service or advice causes financial loss. Luckily, EasyCover makes it simple to get professional liability insurance in Edmonton:
- Provide your contact information.
- Answer some basic questions about your business.
- Choose your coverage.
- Review your quotes.
- Pay online.
After you pay, you’ll be emailed your policy documents. It’s really that easy to get insured!
What is professional liability insurance?
Also known as errors and omissions insurance, professional liability insurance helps protect Edmonton’s legal service professionals if they’re sued for negligence causing financial loss as a result of their service or advice (or failure to provide it).
Do Edmonton legal professionals need professional liability insurance?
As a legal services provider in Edmonton, you may be required to have professional liability insurance by your contracts or your governing body. However, this coverage is also useful for covering the high costs of a lawsuit – otherwise, you’d be paying out of your own pocket.
We insure a variety of legal professionals in Edmonton.
What’s covered by professional liability insurance for legal professionals in Edmonton?
Professional liability insurance covers legal expenses if you’re sued for negligence causing financial loss due to your professional service or advice (or failure to provide it). This includes defence costs, judgement awards and settlements up to your coverage limit.
There are also coverages for allegations of defamation, libel, slander or disparagement, breach of privacy/confidentially and infringement of intellectual property rights.
What isn’t covered by professional liability insurance for Edmonton legal professionals?
Professional liability insurance does not cover bodily injury, property damage or criminal acts. Your policy will outline any exclusions.
How much professional liability insurance do legal service professionals need?
The amount of coverage you require depends on your individual situation. You should consider the likelihood of a lawsuit and the expected costs of a lawsuit when determining the amount of protection you need.
At EasyCover, we offer three levels of professional liability insurance for legal professionals in Edmonton:
- $1 million
- $2 million
- $5 million
This is the maximum amount your coverage will pay out over the 12-month policy period, regardless of the number of claims.
Examples of Professional Liability Insurance Claims
Here are some examples of professional liability insurance claims that a legal services provider in Edmonton may encounter:
- Misrepresentation – If you provide faulty or misleading information that causes your clients a financial loss, they may bring a legal claim against you.
- Disparagement of Character – You could be accused of causing harm to someone’s character or reputation in the course of providing your legal services, causing them financial loss.
- Error – If you make a mistake while providing your services, your client can sue you if that mistake causes any financial loss.
What optional coverages are available for Edmonton legal professionals?
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for legal services in Edmonton.
Commercial General Liability Insurance (CGL)
Commercial general liability insurance (CGL) is the most basic form of liability insurance. It offers protection in the event that you or any of your employees accidentally injure a third party or cause damage to their property while carrying out business operations. This includes any injuries or damages that occur on your premises or on a client’s property.
CGL insurance is considered a critical coverage option and if you have professional liability insurance but leave CGL out, you may leave your business vulnerable. We start CGL coverage at $1 million but you can choose higher limits if desired or required.
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.
Criminal penalties or offences will not be covered as this type of loss is not insurable by law
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.
Every policy has a specified limit, so be sure to familiarize yourself with yours and note any exclusions or separate deductibles.
There are many types of liability insurance and each will cover a different risk. Professional liability insurance specifically protects Edmonton legal professionals if they’re sued for causing financial loss due to negligence.
These are two different types of insurance that cover two different types of liability risk. Professional liability insurance covers Edmonton legal service businesses if they are sued for causing financial loss to a third party in the course of providing their service or professional advice. General liability wouldn’t cover you in this situation, as it covers injuries and property damage caused by negligent acts.
Why choose EasyCover?
Edmonton consultants should choose EasyCover for their professional liability insurance because we offer:
- Great coverage.
- Competitive prices.
- Quick, easy service to get a quote or purchase your policy.
We’re one of the few digital options in Canada – you don’t need to speak to a broker to get insured! We provide the professional liability insurance consultants in Edmonton need and make it easy.
Protect yourself against the unexpected.
Protect yourself against the unexpected with Professional Liability Insurance for Legal Services in Edmonton from EasyCover.Start Quote