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Professional Liability Insurance for Winnipeg Consultants

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Consultant in Winnipeg discussing work with client.

As a consultant in Winnipeg, you could be held liable for causing financial loss to a client. While we all do what we can to avoid mistakes, they do happen – or an angry customer can hold you accountable regardless of whether it’s your fault or not. Professional liability insurance protects consultants in Winnipeg if they find themselves in this scenario. Often known as errors and omissions insurance, this coverage is essential to protect your business. Get a quote or read on to learn more. 

Do consultants in Winnipeg need professional liability insurance? 

While professional liability insurance may not be required by law for Winnipeg’s consultants, it is often stipulated as a requirement in contracts.  

It’s also a smart financial decision. Could you afford the costs of a lawsuit out of pocket? If not, professional liability insurance is essential.

What does professional liability insurance cover for consultants in Winnipeg? 

EasyCover’s professional liability insurance covers legal expenses if you’re sued for causing financial loss to a client as a result of your professional service or advice. This includes defence costs, judgement awards and settlements.  

Our policies are retroactive, which is a huge benefit for you. Retroactive means that you’re covered for claims made during the policy period arising from actions prior to the purchase of this policy. Keep in mind that you will need to report any known circumstances that may result in a claim from previous work and new situations that arise!  

We offer three limits of coverage: 

  • $1,000,000 
  • $2,000,000 
  • $5,000,000 

This is the maximum amount that you would receive for all claims incurred in the 12-month policy period, regardless of the number of claims made.  

Consultants in Winnipeg should consider the following factors when deciding how much professional liability insurance they need: 

  • Contractual obligations (most contracts require $1,000,000 or $2,000,000 of professional liability coverage for consultants in Winnipeg). 
  • Your individual business risks. 
  • Industry trends for lawsuits (how frequent they are and their average cost). 
  • The value of the contracts (or annual revenue). 
  • How many clients/contracts you have.  

Ultimately, the amount of protection you need will depend on your individual business.  

How much does professional liability insurance cost for consultants in Winnipeg? 

 The cost of professional liability insurance depends on the following factors: 

  • Your specific industry and business operations. 
  • Your annual revenue. 
  • The number of employees you have. 
  • Where you operate.  
  • Your coverage options.  

Here are some examples of how much Winnipeg consultants can expect to pay for their professional liability insurance: 

  1. A risk management consultant earning $215,000 in revenue as a sole proprietor working exclusively in Manitoba might pay around $946 for basic professional liability insurance. If they want to add on commercial general liability and cyber liability insurance the total is $1316 – not including provincial sales tax.  
  2. A public relations consultant with 3 employees operating exclusively in Manitoba and earning $340,000 per year might pay $1573 for $2,000,000 of professional liability insurance. Adding commercial general liability and cyber liability brings the total to $1943 per year, not including provincial sales tax.  

Note these examples are for reference only and do not indicate an agreed premium.

Want to know how much professional liability insurance will cost for your business? Get a quote quickly and easily – it’s online and available 24/7.  

Do you offer other coverages for Winnipeg consultants? 

Yes, EasyCover also offers commercial general liability insurance, cyber liability insurance and directors and officers insurance in addition to professional liability insurance. Consultants in Winnipeg have the option of adding these coverages to their policy. Below are more details about these optional coverages.  

Commercial General Liability 

Commonly known as CGL, this coverage is designed to protect Winnipeg consultants if a third party is injured or has their property damaged due to your company’s negligence. This applies to your own premises, at a worksite or at a client’s place. For example, a common claim is someone slipping and falling.  

Keep in mind that this does not cover damage to your company’s property or an injury to your own employees.  

Cyber Liability 

Cyber liability protection helps cover costs if your business is the victim of a cyber-attack or data breach. This includes costs such as ransom payments, regulatory fines, legal expenses, and other costs associated with recovery up to the policy limit. 

Directors and Officers Liability 

This coverage protects the directors and officers if they’re held personally responsible for breaching your duties related to running the business. It protects your personal assets if there is a civil claim or investigation of your actions as a director or officer, up to your policy limit. This includes coverage for legal expenses.  

Note: This does not cover any criminal activities.  

Which additional coverages should consultants in Winnipeg have? 

All of our optional coverages are valuable and quite affordable. We strongly recommend clients carry commercial liability insurance as claims are common and it may be required if you rent space for your business. We also recommend all clients carry cyber liability coverage as cyber-attacks target businesses of all types and sizes. A single incident can be financially devastating to a business.  

Consultants We Insure in Winnipeg 

Here are the consultants we can insure in Winnipeg: 

  • Business Analyst 
  • Business and Management Consultant 
  • Business Continuity Consultant 
  • Business Recovery Consultant 
  • Business Development Consultant 
  • Business Process Re-Engineering Consultant 
  • Buyer 
  • Change Management Consultant 
  • Company Development & Planning Consultant 
  • Compliance Consultant 
  • Data Analyst 
  • Distribution Consultant 
  • Employment Consultant 
  • Energy/Green Technology Consultant 
  • Export Consultant 
  • Fire Safety Consultant 
  • Food Safety & Hygiene Consultant 
  • Forestry Consultant 
  • Health & Safety Consultant 
  • Higher Education Consultant 
  • Horticultural Consultant 
  • Hospitality Consultant 
  • HR Consultant  
  • Image Consultant 
  • Immigration Consultant 
  • IT Consultant 
  • Lighting Consultant 
  • Logistics Consultant 
  • Management Consultant 
  • Marketing & Advertising Consultant 
  • Mergers & Acquisition Consultants 
  • Occupational Health Consultant 
  • Oil & Gas Consultant 
  • Operations Consultant 
  • Personnel Consultant 
  • Procurement Consultant 
  • Production Consultant 
  • Project Management Consultant 
  • Public Relations Consultant 
  • Quality Assurance Consultant 
  • Quality Systems Consultant 
  • Risk Management Consultant 
  • Sales Consultant 
  • Strategy Consultant 
  • Technology Consultant 
  • Training Consultant 
  • Transportation Consultant 

Don’t see your specialty listed here? Contact us and we’ll see what we can do!  

Why should Winnipeg consultants choose EasyCover for their professional liability insurance? 

Here at EasyCover, we make it easy for Winnipeg consultants to get great coverage at a good price. We’re convenient because we’re online and available 24/7. See for yourself why so many choose EasyCover.  

Protect yourself against the unexpected.

Protect yourself against the unexpected with Professional Liability Insurance for Winnipeg Consultants from EasyCover.

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