Professional Liability Insurance which is another name for errors and omissions insurance is an insurance policy that protects professionals from client claims.
This kind of covers for any claims of financial loss that emanates from an insured bad service offered, misconduct from the insured or any lawsuits alleging negligence.
With Professional Liability Insurance policy, the insured will have coverage for legal costs and damages that will cover for the below areas:
Professional Services:
Under this area, Professional Liability Insurance will cover for all insured Negligent Acts or errors or omissions that has to do with all the service rendered by the insured, it also covers for all the failure by the insured to deliver a service as when due or promised.
Media and advertising
Another coverage by Professional Liability Insurance is Media and Advertising: Media services that was offered by the insured that brought about the indured's client being sued for defamation, libel, or slander.
The cost of taking out Professional Liability insurance in Canada
When it comes to taking out simple Professional Liability Insurance policy which will have a limit of about $100,000, one should expect spending upto $250 yearly
They are always diverse factors that comes to play when are when the cost are to be determined as cost of your premium: They include:
Industry and Services Offered, the years of Experience, the number of Employees and also the annual and Projected Revenue
This kind of covers for any claims of financial loss that emanates from an insured bad service offered, misconduct from the insured or any lawsuits alleging negligence.
With Professional Liability Insurance policy, the insured will have coverage for legal costs and damages that will cover for the below areas:
Professional Services:
Under this area, Professional Liability Insurance will cover for all insured Negligent Acts or errors or omissions that has to do with all the service rendered by the insured, it also covers for all the failure by the insured to deliver a service as when due or promised.
Media and advertising
Another coverage by Professional Liability Insurance is Media and Advertising: Media services that was offered by the insured that brought about the indured's client being sued for defamation, libel, or slander.
The cost of taking out Professional Liability insurance in Canada
When it comes to taking out simple Professional Liability Insurance policy which will have a limit of about $100,000, one should expect spending upto $250 yearly
They are always diverse factors that comes to play when are when the cost are to be determined as cost of your premium: They include:
Industry and Services Offered, the years of Experience, the number of Employees and also the annual and Projected Revenue
