If your occupation is of a professional nature, you could be liable in the event of your errors, omissions or malpractice in the service you rendered. This coverage protects you from theses incidents and allows you to avoid any financial loss caused by lawsuits.
Professional liability insurance would provide defense costs even if a suit by client or patient is groundless. We can arrange professional liability insurance wherever you are in BC, such as Metro Vancouver, Victoria, Kelowna or Fraser Valley.
In medical or health care practice field a law suit could result not only from physical injury but from alleged injury such as emotional or psychological. You could be liable for negligence in providing or failing to provide professional services.
Claims made policy*
Professional Liability insurance is a “claims made” policy therefore your need to maintain coverage even after you have completed the work, services or even after you have retired.
Claims made policy means that a claim should be made during the policy period unless the claim report period is extended for a specific term after its expiration.
Commercial General Liability*
In addition to the liability of professional activities, there is a commercial general liability to consider. You may be legally liable to pay compensatory damage due to body injury or property damage arising from your operations other than your own professional service rendered. Such damage could result from water damage resulting from accidentally touching an automatic sprinkler of the building. If a guest slips and falls at your office, or has an arm broken by a falling bookcase, you could be liable for the damages and could be subject to a lawsuit. Since you have regular income or you have an asset, you could be sued for the income or the asset. Commercial general liability would provide coverage for situations such as these.
Medical professionals are required to hold malpractice or professional liability insurance.
You could include coverage for your business properties as well as business income in case your business is interrupted by insured perils.
*Subject to the provisions, conditions, definitions, limitations and exclusions as described in the policy wordings.