Professional Liability Insurance for Ottawa IT Consultants
Get a Quote Online In Minutes!
Start Quote
Businesses and individuals rely on IT and computer professionals in Ottawa more than ever before—and the demand you face is growing as the way we live, work and play becomes increasingly digitized.
With so much riding on your professional advice or service, it’s crucial for IT and computer specialists in Ottawa to have the right protection in place. This should include professional liability insurance.
Also known as errors and omissions insurance, professional liability provides coverage if a client sues because they believe you made a mistake in your advice or service, causing them financial damages.
EasyCover makes it simple for IT and computer specialists in Ottawa to get competitive and comprehensive professional liability insurance. The best part is you can get your free quote and coverage in about five minutes online, without needing to speak with a broker.
Why do IT consultants in Ottawa need professional liability insurance?
Lawsuits are expensive and, without the right coverage, IT and computer consultants in Ottawa will have to cover their own defence costs. This could financially ruin your business, and potentially even drain your personal assets.
With professional liability insurance, IT and computer specialists in Ottawa can rest easy knowing the right coverage is in place should you make a professional mistake in the advice or service you provide, which causes your client financial damages. The reality is, mistakes happen. For example:
- Software you develop or install could fail to perform properly.
- Your custom-made IT product could crash.
- You could accidently breach confidential information while working on IT infrastructure.
Your client can sue to recover any financial loss stemming from your professional advice or service. In such cases, only professional liability insurance typically offers the protection you need to defend yourself.
What does professional liability insurance cover for IT consultants in Ottawa?
Professional liability insurance can cover legal defence costs related to claims of negligence, mistakes or omissions in advice or service, which result in a financial loss. Typically, no other type of business insurance offers protection for such situations. That’s why it is critical for IT specialists in Ottawa to have professional liability insurance.
In particular, professional liability insurance can help IT consultants in Ottawa cover:
- legal fees, such as hiring a lawyer, when defending yourself and your work against claims of financial losses—whether the claims are warranted or not.
- settlements and judgement awards in cases where you are in the wrong and must pay your client restitution.
How much does professional liability insurance cost in Ottawa for IT consultants?
Your premium will ultimately be based on your annual revenue, the number of employees on the policy, your level of coverage, your insurance and claims history, and your area of speciality. EasyCover provides professional liability insurance to the following types of IT consultants in Ottawa:
- CRM Systems Consultants
- IT Facilities Managers
- IT Hardware Consultants
- IT Hardware Sellers and Suppliers
- IT Network Architects
- IT Outsourcing Consultants
- IT Program Managers
- IT Software Consultants
- IT Software Programmers
- IT Software Sellers
- IT Software Testers
- IT Systems Analyst
- IT System Designers
- IT Trainers
- Network Communication Consultants
- PC / IT Network Supporters
- Search Engine Optimization Consultants
- Telecommunication Consultants
- Website Developers
Contact EasyCover if you don’t see your specialty listed, and one of our professional liability insurance brokers can help find you coverage.
3 questions IT consultants in Ottawa should ask when determining their level of coverage
EasyCover offers IT specialists in Ottawa three options of professional liability insurance coverage:
- $1 million
- $2 million
- $5 million
Bear in mind, your level of coverage is the maximum total amount you could receive for all claims that occur within your 12-month policy period.
When choosing your level of coverage, IT professionals in Ottawa need to consider how much it will cost to defend a claim as well as the number of potential restitution. You can assess this by asking yourself these three questions:
- How many clients do I work for and how large are their companies?
- What type of operations do my clients specialize in?
- What is the overall value of the projects I work on?
You know your industry and clientele best. It is advisable to have a higher level of coverage if you work for numerous large clients and provide advice or service on complex projects.
Optional Coverage for IT Specialists in Ottawa
Besides offering professional liability insurance, EasyCover can also provide a few additional protections for Ottawa’s IT consultants.
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.
Keep in mind that this doesn’t cover damage or loss of your own tools, equipment and other property.
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
As an IT professional, you understand the risks associated with cyberattacks. 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.
Protect yourself against the unexpected.
Protect yourself against the unexpected with Professional Liability Insurance for IT Consultants in Ottawa from EasyCover.
Start Quote