Tag: canadian professional liability insurance policy

If you are a small business owner in Canada, chances are that you already know how important it is to be covered under the right insurance policies. But here’s the thing: Knowing about something and actively seeking to make said thing happen are two different things. Too often people hear about professional liability insurance policy […]

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.