Errors & Omissions (E&O) insurance is a vital protection for professionals in Ontario. It steps up when slip-ups, negligence, or service gaps lead to claims. Think of it as your professional defense against financial hits.

Also known as Professional Liability insurance, E&O shields you and your business from losses when
clients or customers claim your services fell short or caused them harm. It’s your protection against the unexpected.

E&O insurance typically has you covered in the following areas:

1. Professional Errors: Covers claims from slip-ups in your services, like giving wrong advice, missing deadlines, or leaving things out.

2. Negligence: Handles claims that say you didn’t meet pro standards or fulfill your professional duty.

3. Misrepresentation: Safeguards against claims of sharing false or misleading info.

4. Legal Defense Costs: Takes care of legal fees,
settlements, and court expenses when defending against a claim.

But, just so you know, E&O insurance won’t cover you for:

1. Criminal Activities: It’s a no-go for claims tied to
intentional wrongdoing or criminal activities.

2. General Business Risks: Things like property damage or employee injuries need separate insurance policies.

3. Non-Professional Services: For claims from
non-professional services, you’ll need different insurance types.