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    Professional Liability Insurance

    Your profession, your coverage

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    4.6 rating

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    What Is Professional Liability?

    Professional Liability or Errors and Omissions Insurance explained

    Professionals with specific expertise in offering advice and services to their clients require liability insurance. When a client says you’re in the wrong—even if you’re in the right—the legal fees can be costly, and Professional Liability Insurance (PLI) is there to support you should a claim be made against you. This type of liability insurance focuses on offering financial coverage to prevent you, as a professional, from bearing the full cost of defending against a lawsuit. It helps protect you and your business from various potential allegations, which primarily include negligence, malpractice, or misrepresentation. The insurance industry classifies professionals into two categories: healthcare professionals and professionals who give advice or counsel. The former includes dentists, doctors, surgeons, and other professionals who deal with bodily injury and illness; the latter includes architects, IT consultants, photographers, and even insurance brokers.No matter which category you fall under, the claims made against you will typically state one of two things: that the advice or service you provided caused financial harm to your client due to an alleged mistake (error), or because you failed to provide the advice or service agreed upon (considered an omission).

    Why Do I Need Professional Liability Insurance?

    Protect my business

    Any business that offers professional services, advice, recommendations, solutions, or otherwise represents the interests of its clients assumes risks and should have PLI. It provides coverage for many of the legal claims that are not under the umbrella of a General Liability Insurance policy. In the event of a lawsuit, PLI pays for the legal fees, damages awarded against you, and any other associated costs, such as supplementary expenses involved in your defense and lost wages if you need to take time off work to appear in court. In fact, these extra expenses are covered on top of whatever limit of insurance you have in place.

    Inherent daily risks

    Clients consult with professionals for their expertise, and they have a legal duty to act in their clients’ best interest, performing their duties to a certain standard of care. Depending on your profession, it may be a regulatory requirement to have a PLI policy before you can conduct business; in some provinces, it’s required by law for certain kinds of professional practices. Because each type of professional takes on different inherent daily risks, we offer customized policies with coverage that’s tailored to your specific profession to insure your most likely and frequent exposure

    Your profession, your package

    There is a specific name attached to the policy for each type of profession. While healthcare professionals would purchase Medical Malpractice Insurance, the professional liability insurance for advice- and counsel-giving professionals is called Errors and Omissions Insurance (E&O Insurance). In any case, we make it easy to figure out what coverage you need and get insured—quickly, conveniently, and affordably.

    Because we’re such big fans of small business, we structure multi-line package programs specifically to cover you and your inherent exposures. With APOLLO, you can get all the coverage you need, including PLI for as low as $18.15/month. It’s quick, convenient, and affordable — APOLLO makes it easy to get a quote and buy online in under five minutes. 

    Generally, the larger your coverage limit is, the higher the monthly cost of your insurance policy. In addition to the perceived risks associated to your services, there are also some other factors that can affect your policy cost:

    • Your business revenue

    • Number of employees

    • Previous insurance claims

    • Type of service you provide

    • Data sets collected by our underwriters

    Quick & Easy

    Our intuitive, proprietary platform lets you customize your policy with several options for limits, deductibles, and multiple types of insurance coverage. Or you can speak with one of our insurance advisors to determine which coverage and policy you need to best safeguard your practice. They’ll help you sort through all the details and create a package with the protection you need.

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    Find and select the coverage you need

    Find and select the coverage you need

    Choose a convenient payment plan that suits you best

    Choose a convenient payment plan that suits you best

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    Get your policy documents in your inbox instantly

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    © 2024 APOLLO Insurance Solutions Ltd.

    111 Water Street, Unit 210, Vancouver, British Columbia, V6B 1A7

    APOLLO Insurance Agency Ltd. (o/a APOLLO Brokerage in the province of Ontario only) is a licensed retail brokerage, offering our clients with a comprehensive set of insurance solutions to meet their individual needs. APOLLO Insurance Agency Ltd. maintains necessary corporate licensing in provinces across Canada. Availability of products and service depends on licensing and product availability. The information that appears on this page is provided for information purposes only. Advertised products and prices are not guaranteed and vary based on insurance provider and/or insurance company's discretion and product availability.

    Transparency and Disclosure: APOLLO Insurance Agency's role is to provide you with exceptional service and the best insurance products that suit your needs. As a licensed retail brokerage, our compensation is based on a commission basis already built into your insurance premium and varies based on the product purchased through our platform. For a description of how APOLLO Insurance Agency is compensated and how this is calculated, please refer to our Compensation Disclosure document. For consumers in Ontario, please review the RIBO Conduct Fact Sheet and the RIBO Conduct Guidance document.