Tag: errors and omissions insurance coverage

As a Canadian professional — regardless of which field you actually specialize in — not being adequately covered under insurance policies can well prove to be your downfall. Unfortunately, “being adequately covered” can be tricky, especially when we’re talking about professionals freshly out of college or university. After all, there are as many insurance policies […]

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.