Professional Services Insurance

Protecting Your Livelihood & Legacy

Professional Liability Insurance Ontario

Ontario Professional Services Insurance

Professional Services Insurance Packages

Every business faces risks, but if your business offers advice or professional service, then your business is at a greater risk of lawsuits. Your everyday commercial general liability (CGL) policy does not cover your business for all liability exposures due to exclusions, and that can leave your business vulnerable.

Ideally your business will have multiple insurance policies to cover the exposures it is vulnerable to. Having your broker personalize this coverage for your business needs can not only save you money on your policies, but it can also ensure that you are protecting your business and employees.

Ideally a business that is offering advice or professional services will have the following policies in place to protect their business:

Commercial General Liability (CGL)
Commercial Property Coverage
Professional Liability (E&O)
Cyber Insurance Policy

Commercial General Liability (CGL)

CGL insurance can protect you when your business is found legally liable. No one thinks that this could happen to them or their business, but a quick scan of news reports will show you that it happens often. Some types of liability exposures include Premises and Operations Liability, Products Liability, Complete Operations Liability, Personal Injury Liability, and many others.

Having the right insurance broker is very important in the business world. It could mean the difference between the business you operate and the business you used to operate.

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Commercial property insurance

Commercial Property Coverage

Owning a business that provides professional services requires you to make sure that you are insuring everything that you need to protect to keep your business operating. We have already briefly covered the CGL policy, and now we have to make sure that you are insuring the property that your business is operating within.

Whether you own, rent, or lease your business space, we have a coverage for you. Property coverage may include insurance for your building, contents, stock, tools or equipment. There are many packages available offering different types and limits of coverage. Let us walk you through which coverage would suit your businesses needs.

Professional Liability Insurance

Errors and Omissions Coverage (E&O)

Your commercial general liability (CGL) does not cover your business for all liability exposures. The Professional Liability coverage is designed to fill that exclusion in order to protect professionals who offer advice or professional services.

If your are in finance, human resources, legal, marketing, engineering, insurance, consulting, or medical fields, we can help you protect your business. The E&O coverage is put in place for the event that there has been an error or an omission by you or your employees while performing services for your clients.

Errors and Omissions Coverage in Ontario

Cyber insurance Ontario

Cyber Insurance

Most commercial insurance policies either exclude cyber events or offer a built in cyber coverage that only offers you a help line if you have had a cyber event. The help line may give some guidance, but there is no coverage to help your business financially. In order to properly protect your business due to cyber related events, you should obtain a separate cyber insurance policy.

If you keep any customers personal information, employees information, transactions, or hold any important data on your computers that a hacker could use, you may want to consider purchasing Cyber Insurance to protect your company.

Examples of third and first party coverage on the majority of stand alone cyber insurance policies:

Notifying clients that their information has been exposed and the legal expenses to determine notification requirements.
Purchasing a credit monitoring service for the affected customers of a data breach.
Starting a public relations campaign to manage the companies public image after your breach.
Business interruption coverage to offset the cost of the lost income due to a covered loss.

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