As a certified professional, you spend years cultivating your reputation to deliver expert service within your area of expertise. You only achieve this through years of extensive education and training. For this, you will want to preserve your practice and invest in its future.
But even the most reputable and experienced professionals are not immune to mistakes on the job; no amount of training can prevent the fallout of some close calls, although some errors are more serious than others. These can harm or cause losses to other people. And when you are found liable for these grave errors, the fallout of a lawsuit or claim can have a lasting impact on the professional practice you spent years building.
Professional liability, or errors and omissions, is specialized insurance coverage that protections professionals like you from the fallout of a claim. When other parties such as customers or partners are injured or suffer losses as a result of your professional practice or operations, they may claim on your part.
Errors and omissions insurance protects professionals who are sued for acts of professional negligence leading to harm or losses to another party. This investment in your professional practice covers the cost of legal fees and court-ordered awards or settlements. Errors and omissions equip professionals with necessary financial cover to avoid the financial fallout of such claims, so you can focus on restoring your reputation and continuing to grow your business.
When considering the protection that errors and omissions provide, the first question anyone asks is, who is a professional? Professional liability insurance is designed for anyone who provides services or consults with clients.
While doctors, lawyers, insurance brokers, and accountants are some of the people that come to mind when we think of professional services, errors and omissions aren’t limited to them. Other professionals include financial planners, consultants, website developers, journalists, IT professionals, and virtually anyone who owns a business or professional practice.
Archway Insurance recognizes the value of professional services in communities across Atlantic Canada. Lawyers, accountants, financial advisors, and other professionals provide essential services and advice that improve quality of life in Nova Scotia and New Brunswick; professionals like you are the backbone of our growing economy.
For this, our brokers work to equip your practice with necessary liability protection, ensuring that your good work continues. Wondering if you may have an E&O exposure in your operation? Trust our brokers to present you with value-adding errors and omissions policy options from major Canadian providers, and tailor your coverage to your practice.
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