Day: September 1, 2015

Each year in Canada, thousands of professionals are sued for malpractice. Among those thousands of professionals, it would be safe to assume that at least several of them work in the accounting field. If you are an accountant, the very nature of your job makes you prone to being sued. Add an error here and […]

Professional Liability Insurance/PLI

(Errors and Omissions Insurance)

  • Flawed professional advice and services that may have resulted in financial loss to the customer or client.
  • Protects professional individuals or companies from responsibility of the full cost of defending against a negligence claim and damages awarded in such a civil lawsuit.
    • Professional liability insurance covers the costs of judgments, settlements and legal defense.
    • Damages paid under a professional liability policy are typically financial rather than physical.