Professional Liability Insurance Products

Compare 480 products offered for Professional Liability Insurance from 92 companies including Merlin Underwriting, STARR Companies, and Victor Canada.

Our Insurance Comparison Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. The Frequently Asked Questions can help with any questions you might have regarding Professional Liability Coverage

Compare Professional Liability Insurance Policies

Products 1 to 10 of 480
Product name Max Coverage Min Premium Exclusions
Professional Liability by APRIL Canada Max Coverage CA$10M Min Premium CA$750


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Healthcare Facilities by MedThree Insurance Group Max Coverage N/A Min Premium N/A


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Healthcare Professionals by MedThree Insurance Group Max Coverage N/A Min Premium N/A


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Design Build Professional Liability by Beazley Canada Max Coverage CA$5M Min Premium N/A


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Professional and Contractor's Pollution Liability by AXA XL Max Coverage CA$50M Min Premium N/A


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Miscellaneous Professional Liability by Trisura Guarantee Insurance Company Max Coverage N/A Min Premium N/A


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Professional Liability - Medical Malpractice by Strategic Underwriting Managers Max Coverage N/A Min Premium N/A


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Excess Professional Liability by Premier Group of Companies Max Coverage CA$10M Min Premium N/A


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Publishers and Broadcasters Professional Liability by Milnco Insurance Broker Solution Centre Max Coverage CA$5M Min Premium CA$1K


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Project Managers of Construction Projects Professional Liability by Victor Canada Max Coverage CA$5M Min Premium N/A
  • firms responsible for actual work or providing general contracting services (except the erection of temporary structures)


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Frequently Asked Questions

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What Is Professional Liability Insurance?

Professional Liability insurance provides coverage for companies and professionals against claims made by third-parties for economic or financial losses. Professional Liability insurance (PLI) is also referred to as Professional Indemnity insurance (PII), PI cover or Errors and Omissions (E&O) insurance.

If someone makes an error while providing a professional service to another business or individual then they could be liable for any costs or losses their mistake caused. Even if there was no mistake, Professional Liability is designed to cover businesses in the event of a lawsuit if they are sued.

These policies are usually designed on a claims-made basis, so PLI will only cover claims made during the actual policy period purchased. Also, certain kinds of professional services are legally obligated to purchase Professional Liability.

What Does Professional Liability Insurance Cover?

During professional duties mistakes can be made. If someone provides incorrect or misleading advice, commits an act of negligence or makes a mistake unintentionally then the business or individual is responsible for the consequences. Professional Liability insurance can protect a business or individual from situations like:
  • professional negligence
  • loss of documents or data
  • copyright infringement
  • personal injury (defamation and libel)
  • financial loss

In the event of any of the above PLI can provide coverage for:

  • legal expenses and defence costs if the claim is taken to court
  • compensation if damages are required to be paid to injured parties
  • run off insurance if a claim occurs after a business ceases to be in operation

Overall, Professional Liability insurance is designed to help protect businesses and individuals from the costs from claims resulting in legal proceedings.

What Is Not Included in Professional Liability Insurance?

As Professional Liability insurance is designed to provide financial protection on current claims, there are conditions and risk areas that are not included:
  • historical claims, or claims made before the insurance policy was active (unless the policy has a retroactive date)
  • bodily injury and property damage (this is usually covered by Commercial General Liability insurance)
  • intentional acts (any deliberate acts or fraud)
  • employment-related claims (anything usually covered under Employers’ Legal Liability or Workers’ Compensation)
  • false advertising
  • patents and trade secrets (any claim that alleges an infringement of a patent or theft of a trade secret)

If any of the above is required it may be possible to add them as extensions or as part of a larger comprehensive package, otherwise they will have to be bought separately.

Who Needs Professional Liability Insurance?

Professional Liability insurance is recommended for anyone providing a professional service across any industry (as well as being compulsory for members of some professional bodies and by some regulators), including:
  • business consultants
  • IT consultants
  • marketing consultants
  • accountants and financial advisers
  • solicitors
  • architects
  • chartered surveyors
  • healthcare professionals

However, there are many other sectors that would also benefit from this coverage, including:

  • teachers and tutors
  • recruitment and employment professionals
  • graphic and interior designers
  • sports and fitness instructors
  • contractors

How Much Does Professional Liability Insurance Cost?

The cost of Professional Liability coverage will depend on several factors:
  • the size of the business
  • the size of the businesses/number of clients dealt with
  • the potential costs if a claim is taken to court
  • if the industry is regulated

But generally speaking there’s one simple rule: the larger the business, the larger the coverage required, which will also impact premiums and deductibles. If there are regulations on the industry, there will be recommended levels of coverage required for specific professions.

Typically coverage limits usually start for small businesses at $1m, while larger corporations may require $10m or more.

 

We spoke to Michael Loeters, Senior Vice-President at PROLINK, about what makes Professional Liability insurance so important