Professional Liability Insurance for Engineers in Newfoundland

Professional Liability Insurance Explained for Newfoundland Engineers 

If a client or third party should file a claim against you for financial loss caused by your professional services, you could wind up facing a lawsuit. This includes a negligent mistake (real or perceived) or omission of key information. Professional liability insurance can help cover Newfoundland engineers for their legal expenses if this happens, including settlements, judgement awards, and defence costs. 

We offer three levels of coverage at EasyCover: 

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

The level of coverage your business needs will depend on the expected cost of a lawsuit and the likelihood of a claim. Your policy will only pay out to this maximum amount that you’re covered for during the policy period, regardless of the number of claims. 

Your policy may also automatically include retroactive cover, which includes claims made during the policy period for wrongful acts that occurred prior to the policy inception date.  

Note that while professional liability insurance protects Newfoundland engineers from financial loss claims due to their professional services, it won’t cover other types of liability claims such as those alleging property damage or bodily injury. For these types of claims, you would need commercial general liability insurance. 

Examples of professional liability insurance claims for Newfoundland engineers

Common professional liability insurance claims scenarios for Newfoundland engineers may include: 

• If you forecast a budget for a project and the final costs end up going well above your predictions. 

• A client alleges that you have made a mistake or an error that caused a project to be delayed, costing the client money. 
• An engineering design that you made contains an error that a client alleges has resulted in additional expenses being incurred or led to costly repairs.