Professional liability insurance, sometimes known as professional indemnity insurance, is essential for any business or self-employed individual offering specialized services or consulting in Canada. This insurance protects against claims arising from errors, omissions, negligence, or professional misconduct that could cause financial, material, or reputational harm to a client.
In Canada, many regulated professions legally require this coverage to operate, particularly in the fields of law, accounting, financial services, architecture, and consulting engineering. Even when it is not mandatory, obtaining this insurance is a strategic decision to secure your business activities and safeguard your professional reputation.
At ClickInsurance, we make it easy for you to quickly compare the best professional liability insurance offers tailored specifically to your needs. Get multiple free quotes today and protect your business from the risks associated with your professional practice.
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At ClicAssure, we understand that every business has unique insurance needs. That's why, through our commercial insurance comparator and our extensive network of business partners, we offer insurance solutions tailored to a variety of industries. Whether you own a commercial vehicle, a service business, or manage condominiums, we have the coverage you need. Complete an online quote on our insurance comparator to receive offers from several of Quebec's leading insurers, specializing in insurance for businesses and SMEs.
Professional liability insurance is specific coverage designed to protect businesses and professionals against financial consequences resulting from their professional errors, omissions, faults, or negligence.
Any profession offering specialized advice, services, or expertise should consider this coverage, including lawyers, accountants, engineers, IT consultants, healthcare professionals, architects, real estate brokers, and others.
Yes, for many regulated professions such as lawyers, accountants, engineers, architects, and financial advisors, it is legally required by their professional governing bodies.
It covers legal defense costs, compensation payments to clients for damages caused by professional misconduct, and sometimes expenses related to crisis management or reputation protection.
The cost depends on several factors: your industry, associated risks, annual revenue, and selected coverage limits. Typically, annual premiums start around $500 but can significantly increase depending on your specific business activities.
Without insurance, you are personally liable for all costs related to a claim, including legal expenses, client compensations, damage to your reputation, and a high risk of personal or business bankruptcy.
Precisely analyze your needs based on your industry, evaluate potential risks, verify any minimum coverage obligations imposed by your professional governing body (if applicable), and compare multiple quotes to find the perfect coverage for your profile.
Yes, professional liability insurance can be combined with other types of coverage such as general liability insurance or cyber-risk insurance to provide comprehensive protection tailored to your professional needs. A standard commercial insurance policy typically includes a professional liability component.
With ClickInsurance, simply fill out a short online form to quickly receive multiple free, personalized quotes from our partner insurers in Canada.
