Errors and Omissions (E&O) Insurance
No business is immune to human error. Even the most experienced professionals can make mistakes that lead to costly disputes, particularly when handling complex projects, working under tight deadlines, or facing high client expectations. That’s why Errors and Omissions insurance is a must-have safeguard for Canadian professionals and service-based businesses.
Errors and Omissions liability insurance protects your company from financial losses caused by alleged mistakes, negligence, or failure to deliver professional services as promised.
Whether you’re a consultant, contractor, or small business owner, this policy helps you stay protected against claims that could damage your reputation. At KASE Insurance, we tailor E&O insurance coverage to your industry, risk exposure, and contract requirements, so you can focus on doing your best work with confidence.
What is Errors and Omissions Insurance?
Errors and Omissions (E&O) insurance, also known as Professional Liability insurance, is a specialized form of business insurance designed to protect professionals who provide advice, services, or expertise. It covers the costs associated with claims of negligence, mistakes, or failure to deliver a service as promised.
An Errors and Omissions insurance policy can pay for legal costs, settlements, and judgments when a client alleges your work caused them financial harm. Whether due to honest oversight, miscommunication, or unintentional error, E&O insurance coverage helps ensure that your business isn’t left to deal with those costs alone.
In Ontario, Errors and Omissions liability insurance is particularly valuable for consultants, contractors, and service-based businesses managing complex or high-stakes projects. With E&O insurance coverage, you gain peace of mind knowing your company’s finances, reputation, and future are protected from unexpected claims.
Why is Errors and Omissions Insurance Important?
Errors and Omissions (E&O) insurance is a crucial form of professional liability insurance that safeguards your business against financial losses stemming from errors, missed deadlines, or inadequate services. It helps ensure the stability, credibility, and long-term success of your operation.
Financial Protection
E&O coverage helps pay for legal fees, settlements, and compensation if a client claims your work caused them a financial loss. This type of liability insurance shields your business assets and prevents costly disruptions.
Reputation Management
Defending your business against a claim can harm client trust. Having E&O insurance demonstrates professionalism and accountability, helping you maintain credibility in competitive industries.
Peace of Mind
With E&O insurance in place, you can focus on your work without worrying about the financial fallout of human error.
Contractual & Regulatory Compliance
Many clients and professional associations require E&O coverage as part of service agreements or licensing, ensuring your business remains compliant and trusted.
What Does Errors and Omissions Insurance Cover
Errors and Omissions insurance coverage protects your business from claims related to professional mistakes, negligence, or failure to deliver services as promised. While every Errors and Omissions insurance policy is customized to the business and industry, most policies include protection for:
- Professional negligence: Covers claims arising from errors, oversights, or failure to meet professional standards that result in financial loss for a client.
- Misrepresentation or inaccurate advice: Protects against situations where a client alleges that your advice or information caused them harm.
- Breach of contract: Offers coverage when a client claims your work did not meet agreed-upon terms or expectations.
- Legal defence costs: Covers lawyer costs, court fees, legal expenses, and settlements, even if the claim is unfounded.
It’s important to note that Errors and Omissions liability insurance does not cover criminal acts, intentional misconduct, or certain types of cyber liability. For businesses that handle sensitive data or digital assets, combining your E&O insurance policy with cyber liability insurance can provide more complete protection.
At KASE Insurance, we tailor each E&O insurance policy to your profession and risk profile, ensuring your business has the right level of protection for every scenario.
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Complete Coverage Options for Professionals
Errors and Omissions insurance is vital, but it’s just one part of a complete protection plan. Professionals face a variety of risks, from client disputes to cyber threats that can impact finances and reputation. To ensure your business is fully protected, E&O coverage should be paired with other key liability and business insurance policies.
Commercial General Liability Insurance
Protect your business from third-party injury or property damage claims that occur outside of your professional services. CGL coverage helps pay for legal defence, medical expenses, and settlements arising from these incidents, keeping your business financially secure.
Cyber Liability Insurance
A data breach or ransomware attack can expose confidential client information. Cyber liability insurance helps cover notification costs, recovery expenses, and legal fees related to digital security incidents.
Directors and Officers (D&O) Insurance
If you serve on a company board or manage corporate decisions, D&O insurance protects you against claims of mismanagement, breach of duty, or regulatory violations.
Business Interruption Insurance
Even professional firms can face downtime due to disasters or property damage. Business interruption coverage replaces lost income and helps manage ongoing expenses while operations recover.
At KASE Insurance, we help professionals across industries build comprehensive protection plans. Our brokers can assess your risk profile and customize a policy package that safeguards your business, reputation, and future success.
Who Needs Errors and Omissions Insurance?
Errors and Omissions insurance is essential for any business that provides professional advice, consulting, or specialized services. If a mistake, miscommunication, or delay in your work could lead to financial loss for a client, you need E&O insurance coverage.
This type of liability insurance is common among professionals in industries such as:
Business, financial, and management consultants who guide clients on critical decisions need an E&O policy to protect against claims that allege financial or reputational losses.
Real estate agents, brokers, and firms responsible for contracts, transactions, and client funds benefit from E&O coverage if their services have led to complaints of poor property management.
Medical professionals, therapists, and clinics where errors could impact client wellbeing.
Lawyers, accountants, and bookkeepers who handle complex financial and legal matters gain protection from claims of negligence and misconduct with an E&O policy.
With an E&O coverage, agencies, advertisers, and graphic designers who manage branding and campaigns for clients shield themselves from expenses brought by clients claiming misrepresentation, libel, and slander.
Developers and IT consultants whose work directly affects client systems or data security are protected from legal fees, compensation, and settlement costs in the event of damage claims being raised.
In Ontario, many industries now consider professional Errors and Omissions insurance a standard requirement. Even when not legally mandated, having an E&O insurance policy demonstrates professionalism and provides crucial financial protection if a client ever questions the quality or accuracy of your work.
Why Choose KASE Insurance for Errors & Omissions Insurance
At KASE Insurance, we specialize in building tailored Errors and Omissions insurance policies that fit the unique risks of your business. As one of Ontario’s leading insurance brokers, we understand that no two professions face the same challenges, which is why we take the time to assess your exposure, explain your options, and secure the best E&O insurance coverage available.
Our dedicated team collaborates closely with clients across various industries, including consultants, contractors, real estate professionals, and healthcare providers. We combine deep industry expertise with responsive customer service, ensuring you always have a trusted partner when it matters most.
Safeguard your business, your reputation, and your future. Reach out to our team today to get a free Errors and Omissions insurance cost quote and learn how we can help protect what you’ve built.
Read what clients have to say about KASE
By far the most professional and trustworthy insurance brokerage I have known. We have been working with this firm for number of years now and I have nothing but good to say about their team and services. Stan and his team won't stop until we are fully satisfied. They are always on top of things, super fast in their assistance and very professional. I highly recommend this firm to anyone seeking for great insurance brokerage to work with. Big Thank You to Stan and Kase Insurance for many many years of great service!
Reviewer: Alex K
out of 5 stars
Stan and is team at KASE Insurance have been fantastic in explaining what insurance we needed for our business. Very hands on approach and detailed. I work highly recommend KASE Insurance for any business owner looking for great service.
Reviewer: Kyle Grooms
5 out of 5 stars
The KASE team is very easy to work with. They answer your questions quickly, walk you through the process patiently, and find you great rates. We've been working with them for a few years and we haven't felt the need to shop elsewhere because of their customer service.
Reviewer: Sasha Boersma
5 out of 5 stars