Errors and Omissions Insurance
We all make mistakes. That’s why having Errors and Omissions Insurance is critical.
This policy may cover financial liability in case of accidental errors or alleged negligence.
Join thousands of Canadian businesses that are already protected!
Partnership with over 50 leading Canadian insurance companies
What is Errors and Omissions Insurance?
Errors and Omissions Insurance (E&O), also referred to as Professional Liability Insurance or Malpractice Insurance, is a useful policy that protects you in case you allegedly make a mistake while delivering a product or service or fail to deliver on what you promised.
E&O covers defence costs, judgment, settlements and fines or penalties resulting from the allegations of misrepresentation, breach of professional services, wrongful business practices, misleading advice and conflict of interest.
Who needs Errors & Omissions Insurance?
The following professionals should definitely have errors and omissions insurance:
- Physical therapists*
- Financial advisors
*Medical malpractice insurance policy
Read about some common scenarios of errors and omission insurance claims.
What is the cost of E&O Insurance?
The cost of an E&O policy varies according to factors such as:
- Level of experience in the industry
It also depends on the nature of your work and the size of your particular business, but generally speaking, here is a breakdown of costs:
- Consultants start at $400
- Engineers pay around $1000
- Software developers start at $500
- Photographers start at $300
Getting insured is quick and easy!
If E&O insurance is what you need, request a free quote now
Which professions require E&O Insurance?
Regardless of the type of professional services business you run, Erros and Omissions insurance is critical:
Aerial and ground based Photographers / Videographers
Architects & Engineers
Building Designers (Bill 124)
Directors and Officers
Energy Audits & Assessments
Foreign Legal Consultants
Human Resources (HR) Consultant
Information Technology & Computer Consultants
Lawyer’s Excess Professional Liability
Medical Professionals (Malpractice Insurance)
Medical Students (Malpractice Insurance)
Occupational Health and Safety Consultants
Quality Control Consultants
Publishers and Printers
Recruitment and Employment Agency
Solar & Wind Farm Engineers & Consultants
Travel Agents, Tour operators
Workplace Engineers & Consultants
Common scenarios where Errors and Omissions Insurance is useful
An Accountant fails to file particular documents, and the client sues, claiming that the omissions led to financial loss for him.
Due to miscommunication, a lawyer fails to take her client’s consent before taking a particular action and the client decides to sue for malpractice.
Design errors by an Architect could become costly when discovered after construction is already underway. Expect the developers to sue!
Frequently Asked Questions about Errors and Omissions Insurance
What our customers friends say about us
Our customers ❤ us, and so will you!
Learn why thousands of Canadian small businesses trust us with their insurance needs.
Ready To Start? Let’s Get a Quote!
Getting an insurance quote shouldn’t be complicated!
At Zensurance we simplify the process of getting insurance so that you get the coverage you need, quick and easy!
Our friendly support team is always ready to answer questions, we’re just a click or a phone call away.