Tag: professional liability

One of the most commonly asked questions related to professional liability insurance coverage is this one: Is professional liability insurance coverage mandatory in Canada? The answer is no. Unlike car insurance coverage, you are not required by law to be covered under a professional liability insurance policy. But here’s the thing: Just because you don’t […]

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.