As a professional service provider, your coverage requirements need to reflect the broad range of risks you face each day. Whether you’re a sole proprietor, partner, or corporation, Mitchell & Whale has you covered with over 40 of the best insurance partners in Ontario and Canada.
Just some of the professional service clients we find coverage for include:
As your broker, we’ll examine the nature of your business, and ensure you have the coverage you need to mitigate risks associated with your particular operation. Most professional service providers start with the following coverage:
As provider of professional services, you’re exposed to a range of liability risks that could potentially result in legal action against your or your organization. The two main categories of liability insurance necessary for professional service providers are commercial liability, which covers accident or injury, and professional liability, covering acts of negligence or damages resulting from your professional errors or advice.
Commercial General Liability (CGL) provides coverage for claims resulting from occurrences of bodily injury and property damage that might occur on your premises such as a slip and fall on your office stairs. CGL is considered basic liability coverage for a professional service provider, as it excludes claims arising from malpractice or error.
Professional Liability insurance (PLI), sometimes referred to as errors and omissions, protects you in the event that you’re found legally responsible through your professional services for accidents or oversights resulting in damages to a client. Professional liability fills the gap in commercial general liability coverage for accusations of negligence, which CGL won’t cover in most cases. One form of professional liability insurance underwritten specifically for healthcare professionals as malpractice insurance.
Commercial Property insurance protects your physical location, office contents, and equipment.
Covers risks such as theft, fire, and water damage to your business assets. Content might include property such as computers; photocopiers; furniture; appliances; decor; records and documents; and they should be covered both in your office or when temporarily away from the workplace.
Equipment breakdown insurance covers you against the common problem of sudden, accidental breakdown of the equipment your business relies on for day to day operations. Your office is likely air conditioned or heated, uses computer and telephony systems, electrical panels, and more. Without equipment breakdown, your business would have to absorb the full expense of repairs or replacement.
As a professional service provider, you likely store client data in a computer network. A cyber endorsement added to your policy is a wise decision in most professional environments, protecting you in case of privacy breach or other cyber crime.