How Important is Calgary Professional Liability Insurance Coverage?

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When people hear the word “insurance”, some of them don’t always respond positively. Some think that insurance policies are too expensive. Others think that they are useless. As a professional currently operating in Calgary, Alberta, what’s your take on it?

Chances are that you don’t agree with those people. You know exactly how important insurance policies are for your car, for your home and even your career. Every day, insurance policies are the reason why dozens of people don’t go bankrupt. Will you be among them one day? Or are you already among them?

Well that’s up to you. Until then, let’s take a look at one type of insurance policy that a professional like you should never ignore.

Regardless of what field you are operating in, if the threat of you being sued over an error or omission that you may or may not have committed exists, then you have to be covered under a Calgary professional insurance policy. It’s really that simple.

Professional insurance coverage is crucial. We have said it in the past and we will continue to say it. Without it, you expose yourself to too many unnecessary risks. While doctors, lawyers and consultants are among some of the most sued people in Canada, it is not uncommon for other professionals to be sued as well. Those professionals can range from teachers to freelancers to even people working in the media.

Do you see where this is going? People sue each other. They sue each other on almost a daily basis, in fact. Purchasing a professional liability insurance policy in Calgary in the best way for you to protect your career. Not only does it allow you to keep focusing on what you do best — it also protects you from financial loss associated with someone filing a lawsuit against you. What more could you ask for?

Categories:

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.