Who needs a professional liability policy?
Self-employed people providing services need professional liability insurance in Canada to mitigate the risk of lawsuits. This includes:
Freelancers that offer services like design, copywriting, or web development
Trades professionals like plumbers, roofers, or contractors
Health practitioners like acupuncturists, personal trainers, and counsellors
Business professionals like financial advisors, accountants, consultants, and bookkeepers
Beauty professionals like eyelash technicians, hairdressers, and pet groomers
And much more!
Professional liability insurance is core to these businesses’ daily operations. It mitigates risks and provides peace of mind to owner-operators that their service doesn’t churn out expensive legal liabilities. It can save your business and your wallet!
Examples of coverages that can be purchased through a professional liability policy are:
Errors or oversight: A finished deliverable contains a mistake that leads to a financial loss for your client
No deliverable: You couldn’t provide your client with the promised service
Breach of contract: You don’t uphold all the promises as per the contract with the client
Copyright infringement: Finished work ends up being the target of a copyright claim
Poor quality of work: Your work didn’t live up to the advertised standard