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Professional Liability Insurance in St. John’s

If you’re a professional living in St. John’s, professional liability insurance is a critical protection. Why? Your clients can sue you if they suffer financial loss as a result of your professional service or advice. Even if you’re not at fault, you’ll still be responsible for your legal defense costs. This can be extremely expensive.

Unfortunately, while many companies have commercial general liability insurance, this type of coverage only protects you for claims of bodily injury and property damage. You wouldn’t be covered for a failure to provide your service or for a mistake. But luckily, St. John’s professional liability insurance is available through EasyCover Canada. It’s affordable and comprehensive.

We keep it simple. Get a free St. John’s professional liability insurance quote or even purchase your policy in less than five minutes.

Step 1: Enter your information for your free quote.

Step 2: Select the policy that works for you.

Step 3: Pay online and receive your policy documents.

In these three easy steps, you could be protected from negligence, misrepresentation and other service-related lawsuits. Work with confidence knowing that your finances and reputation are covered by your professional liability insurance.

What is professional liability insurance?

In St. John’s, many professionals provide a service or give advice in a professional capacity. You can be sued by your clients if your service or advice results in financial loss for your client. They could be accusing you of a failure to provide, negligence, misrepresentation, or something else. Whether the accusations are true or false, you’d still be responsible for paying the costs associated with litigation.

Professional liability insurance gives St. John’s professionals peace of mind. Also known as errors and omissions insurance, this covers the legal defense costs in insured events as well as settlement or judgement awards, up to your policy limit.

At EasyCover, we offer three levels of coverage:

  • $1 million
  • $2 million
  • $5 million

Each option is the maximum amount your policy will pay out over the 12-month period, regardless of the number of claims you make. The level of coverage you should choose will depend on your industry, your clients, the value of your projects, and the anticipated costs of litigation in the event you’re sued. In some professions, this coverage is required by law. Many contracts also require a certain level of professional liability insurance in St. John’s.

You’ll also be responsible for paying a deductible for each claim you make. For example, if your deductible is $500 and you make two covered claims, you’d pay $1000 total. Your professional liability insurance would cover the rest (up to your policy limit), so long as it was an insured scenario.

Keep in mind that this coverage won’t cover criminal acts and doesn’t take the place of commercial liability insurance – bodily injury and property damage for third parties isn’t covered by errors and omissions coverage. If you participate in any deliberate dishonesty, fraud or misrepresentation, you will not be covered. You’re also expected to report any incidents that may result in a lawsuit to your insurer. This won’t affect your coverage or premiums, it is just important to have open communication.

For example, let’s say you’re a website designer in St. John’s. You deliver an e-commerce website and your client launches it. Unfortunately, there’s an issue with the purchase process and no one can buy anything. Once you’re aware of the mistake, you should contact your insurance company to give them a heads up. While this may not result in a lawsuit, your insurance company wants to be prepared in case it does.

What kinds of claims does professional liability Insurance cover in St. John’s?

Professional liability insurance can cover a variety of scenarios, including negligence, misrepresentation, inaccurate advice, violation of good faith, loss of documents, and more. Here are some examples:

  • Misrepresentation – You provided a scope and fee at the beginning of a project, but the final deliverable is accompanied by a much higher bill. Your client could sue you for misrepresentation.
  • Inaccurate Advice – You give a client advice on a major business decision. They take your advice but the decision ends up resulting in financial loss. Your client could sue you on the grounds that your professional advice caused them financial damages.
  • Negligence – As a construction contractor, you ordered the wrong pieces. This results in a project delay and a great expense for your client. They could sue you as a result.

Whether or not your fault is perceived or real, your professional liability insurance can cover your legal costs. Remember, criminal or deliberate acts aren’t covered, and you’re responsible for informing your insurer of any potential lawsuits.

5 Ways to Protect Yourself from Professional Liability Risks

Unfortunately, as a service-provider, there are professional liability risks. While your professional liability insurance will protect you in the event you’re sued, avoiding a lawsuit in the first place is always your best bet. Who wants that stress? Here are a few ways you can help mitigate your risks:

  • Stay Organized – Ensure you know where all of your information is, when your deadlines are, and what you need to do each day. You’ll reduce the chance of forgetting a detail and minimize your chance for errors.
  • Communicate – Open and honest communication is important. Ensure expectations are clearly outlined and be sure to establish responsibilities for both you and your client. Clarify if you’re not sure.
  • Record Keeping – Always follow up a conversation with an email. Ensure you keep a digital and cloud copy of all your communications, receipts and important documents. These can prove handy in the event you’re sued, too.
  • Refer Out – Don’t bite off more than you can chew. Whether it’s time constraints, lack of materials or missing skills, choose to a client to someone who can help them.
  • Quality Control – Put procedures in place to ensure your deliverables are as error-free as possible. Whether that’s going through a checklist or having someone else double-check your work, processes will help you catch mistakes.

We’re all human, and mistakes happen. Even with the best mitigation practices in place, you may not be able to prevent a lawsuit. That’s where EasyCover’s professional liability insurance will step in.

EasyCover’s St. John’s Professional Liability Insurance

EasyCover Canada provides comprehensive, cost-effective professional liability insurance for St. John’s professionals. We offer coverage for a wide variety of roles in these industries:

IT/Computer Contractors
Engineering Contractors
Managers
Construction Contractors
Consultants
New Media
Social Services
Finance Professionals
Legal Professionals
Photographers
Forensic Experts

Newfoundland Business Resources

If you’re a consultant or business located in St. John’s or elsewhere in Newfoundland & Labrador, here are a few resources that can help you operate more effectively:

City of St. John’s (Official Website)
Downtown St. John’s Business Directory
Newfoundland & Labrador Business Coalition

Why Use EasyCover

Critical Protection

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.

Comprehensive Coverage

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.

Affordable Rates

Get Canada’s first online Professional Liability Insurance at very competitive rates.

Quick & Easy

Get a FREE quote, print your policy documents and pay from the comfort of your home or office, all in minutes with our easy-to-use online tool.