Tag: error and omission coverage

If you are a professional currently operating in Canada, chances are that you have heard of either the term “error and omission coverage” or “professional liability insurance coverage” being used in the past. But if you are unsure of what those terms mean,¬†they can easily confuse you — especially when you end up learning that […]

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.