Professional Liability.
The protection of your business is critical to ensuring its success. Without Professional Liability cover, you could be vulnerable in the event that a claim alleges negligence or failure deliver services as promised- and this would not only put financial stability at risk but also reputation with clients who count on receiving what they paid for.
What is Professional Liability?
Professional Liability Insurance, also known as Errors and Omissions Insurance, protects professionals from claims alleging financial loss due to a service you provided, information you omitted as well as lawsuits alleging negligence, misconduct, and failure to deliver services as promised.
Professional Liability Insurance typically includes coverage for legal costs and damages related to the following coverage areas:
Professional Services: Coverage for Negligent Acts or errors or omissions related to your services, or failure to deliver a service as promised.
Products: Coverage for product failure (e.g., it didn’t work as intended) or a physical injury (e.g., overheating device causing a burn).
Media and Advertising: Media services resulting in your client getting sued for defamation, libel, or slander.
Why choose Summit?
We help Canadian Business Owners craft the perfect insurance policy for their business.
Our team takes pride in our relentless responsiveness. When you need us, we're here.
We compare rates across leading insurance companies to ensure you get the best price on your premium.
We craft the perfect insurance policy for your business so you can rest easy knowing you're covered.
Your dedicated account manager is there for you as your business grows ensuring your insurance policy grows with you.
The right insurance plan for every business.
Here are a few of the industries we serve.
Don't see yours? We serve all kinds of Canadian businesses. Chat with us.
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Ecomm, Retail & Wholesale
Amazon resellers, to coffee shops, large product wholesalers and more..
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Professional Liability FAQs
Business Insurance can be complicated. We're here to help.
IProfessional Liability Insurance, also known as Errors and Omissions Insurance, protects professionals from claims alleging financial loss due to a service you provided, information you omitted as well as lawsuits alleging negligence, misconduct, and failure to deliver services as promised.
As a business owner you need Professional Liability Insurance if any of the below resonate with you:
You provide advice or offer services in exchange for a fee.
You provide or develop products or devices.
Depending on the profession, it may be referred to as Errors and Omissions Insurance or Malpractice Insurance. For some occupations, carrying Professional Liability Insurance is required to practice.
Professional Liability Insurance typically includes coverage for legal costs and damages related to the following coverage areas:
Professional Services: Coverage for Negligent Acts or errors or omissions related to your services, or failure to deliver a service as promised.
Products: Coverage for product failure (e.g., it didn’t work as intended) or a physical injury (e.g., overheating device causing a burn).
Media and Advertising: Media services resulting in your client getting sued for defamation, libel, or slander.
Professional Liability Insurance should never be sold solely on price. You are protecting your most important asset. Our mission is to find you the perfect coverage but also find the best priced policy with that coverage.
The exact cost for your insurance policy varies according to factors such as:
Industry
Risk Exposure
Years of Experience
Location
Number of Employees
Revenue
Claims History