Professional Liability Insurance in Newfoundland

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Professional Liability Insurance in Newfoundland.

If you’re a professional living in St. John’s, Newfoundland. 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, Newfoundland professional liability insurance is available through EasyCover Canada. It’s affordable and comprehensive.

How do I get a professional liability insurance quote in Newfoundland?

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 Newfoundland?

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.


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What kinds of claims does professional liability Insurance cover in Newfoundland?

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

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.

  • 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.

The Cost of Professional Liability Insurance in Newfoundland

Your professional liability insurance in Newfoundland is priced in a way where you’ll be required to pay a premium each month. That premium may be evaluated based on the risk that your business presents. Some industries and operations are riskier than others, but there’s a lot more than that which is used to total your costs. Here are some examples of key factors.

  • Your industry. As mentioned previously, some industries present higher risk than others. Medical businesses, for example, offer a very complex service that may be valued much higher than a new media professional’s services, and the cost of a loss is greater.


  • The average cost of lawsuit in your field. This sort of ties in with the previous factor, but how much, on average, would a suit in your industry cost? Some answers range in the tens or hundreds of thousands, but some can scale into the millions. This is why it’s so important to have enough coverage for your business.


  • Coverage limits. You’ll be able to purchase a certain level of coverage for your insurance. $1 million and $2 million are popular amounts. The more coverage you buy, the more your insurance will cost.


  • Insurance history. The amount of claims you’ve made, and the frequency, can signal to insurers what your likelihood of making a claim again might be. Prevent unnecessary claims by practicing proper risk management and protecting yourself against professional liability risks.


  • Costs vary from case to case. Get an estimate of your total costs by getting a free professional liability insurance quote in Newfoundland with EasyCover’s quick to use, easy virtual tool.


Is professional liability insurance in Newfoundland mandatory?

In some cases it is, but it depends on your industry. Professional liability insurance in Newfoundland is a good idea whether it’s a requirement for your industry or not, because it can protect you from some pretty huge costs pertaining to lawsuits alleging negligence, violation of good faith, error causing project delay, and so much more. For lawyers, medical professionals, and more, professional liability insurance is generally a requirement, and you may not be able to obtain your professional licensing without proof of insurance.

It’s also a good way to preserve your reputation. Clients may not work with businesses that are not insured, as it can demonstrate their reputability.


What isn’t covered by professional liability insurance in Newfoundland?

If any claims were found to be due to intentional dishonesty, harm, or misrepresentation, you will likely not be covered by your insurance. Professional liability insurance in Newfoundland is designed for errors and accidental omissions, not intentional harm or criminal actions.

Your insurance will also not cover you for third-party claims of property damage and bodily injury. For this, you would need to have sufficient commercial general liability insurance, which is often necessary but should not be overlooked even if you already have errors and omissions insurance. These policies compliment each other but they do not replace each other.

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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:

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 in Newfoundland will come in to play.

  • 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.
Coverage by Industry.

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:

With EasyCover, you can work with confidence knowing you’re protected in St. John’s with professional liability insurance. Our comprehensive, affordable coverage is simple to get online. Get a free quote or purchase your policy today.

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