Professional Liability/Errors & Omissions Insurance

At Oegema Nicholson and Associates, we understand that protecting the integrity of your work is important. That’s why our brokerage offers a variety of insurance products designed for your business and its activities. Professional liability insurance is crucial, especially if you work directly with customers to provide a specific service. Whether you own a dental practice or accounting firm, depend on Oegema Nicholson to cover your bases should a client hold you responsible for errors in your work.

What is professional liability insurance?

Also known as errors and omissions (E&O) insurance, this type of coverage protects your company against claims that a professional service you provided caused your client to suffer harm. If this client suffers a loss because they believe your service failed to meet expectations, you could face a very costly lawsuit. They would have to allege this harm was caused by mistakes on your part (errors) or because you failed to provide some sort of service (omissions). Professional liability insurance can cover your legal expenses should your client decide to sue. This type of coverage is generally reserved for businesses that provide some sort of professional service or advice, such as:
  • Insurance brokers
  • IT consultants
  • Dental offices
  • Legal firms
  • Accounting practices
  • Graphic design firms
  • Investment advisers

How does E&O insurance work?

The benefits of E&O insurance can vary widely, depending on your policy and its provider. Oegema Nicholson can help you understand your coverage, so there are no surprises should you have to file a claim in the future. Although benefits may differ from policy to policy, professional liability insurance typically works in the same way across a number of scenarios. For example, a client may sue their financial adviser after an investment goes awry — even if all parties were well-aware of the risks beforehand. Although a court may rule in favour of the adviser, the legal fees to defend the case are likely very costly. This is when E&O insurance would come into play. Aside from legal costs, the policy may also cover other related expenses, such as hiring temporary employees or any lost income during the legal battle. Professional liability insurance does not usually cover criminal prosecution cases or liabilities not listed in the policy.

What are some common claims?

Although policies may vary depending on the unique needs of your industry, here are some common claims filed under E&O insurance:
  • Misrepresentation – Presenting information that a client feels is faulty, dishonest or misleading
  • Negligence – Making an error while providing a professional service
  • Libel/Slander – Damaging the reputation of the client
  • Loss of documents – Losing or accidentally destroying important paperwork
It’s important to remember that you don’t need to be found guilty for E&O insurance to kick in. Your business may file a claim, even if a client has only accused you of wrongdoing. That’s because a simple accusation could be enough for legal proceedings to begin against you.

How much does professional liability insurance cost?

Oegema Nicholson can connect your business with some of the best insurance rates on the market. The cost for professional liability insurance will depend on a number of factors:
  • Type of business
  • Location of business
  • Whether any previous claims have been paid out in the past
Should you work in an industry where it’s common for clients to sue for errors and omissions, chances are you may pay a higher premium for professional liability insurance. One way to ensure you’re not overpaying is to work with a trusted insurance broker — who can determine the right amount of coverage for your needs.

Why trust Oegema Nicholson?

Whether you’re a casual freelancer or the head of a prestigious company, Oegema Nicholson can help you protect the integrity of your work. Rely on us for high-quality insurance products, especially when it comes to E&O insurance. Our brokerage understands the complexities involved in providing a professional service. Should a client challenge the quality of your work, have peace of mind knowing your legal expenses may be covered. A strong insurance policy can ensure you’re not paying out of pocket, allowing you to focus on more important areas of your practice. Rely on our team of knowledgeable insurance experts to deliver the coverage you need — at a price you can afford. For more information on professional liability insurance, call us at 613-224-1455 or contact us here.

Or, if you’re ready to apply for the coverage you need, create your policy now

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"Just wanted to leave a message for your website that praises Nik Dore for being a constant example of always providing invaluable customer service. I never worry that my questions and concerns will be dismissed or that I am receiving less than constructive advice. Many thanks to him."
"I know all my insurance needs are covered with Oegema, Nicholson & Associates. I have been a loyal client for the last 15 years, and I can count of them for my commercial insurance, employee benefits, as well as my personal insurance and finances. Jeff Richer always goes above and beyond to help me with my insurance needs."
O-Omkar Atwal, Owner, Leitrim Home Hardware
"It’s always a pleasure to deal with Oegema, Nicholson & Associates, and I can depend on them for all my insurance needs. I have been a client for several years and whether it’s regarding my personal insurance, or anything to do with our employee benefits or commercial needs, I know I’m taken care of."
R-Rhonda, Capital Dodge
"I would like to thank Carol for everything she has done for me and my family over the years. It is my honest belief that we would not be in the position we are in if it was not for her guidance, expertise and honesty. We can't begin to thank her enough."
"ONA helps me with my personal insurance and my business insurance . They are my one stop shop when it comes to insurance and group benefits. I know I’m covered in all areas. Great friendly service and knowledgeable staff!"
J-James Carriveau, President, Exact Interlock and Exact Properties
"One call to Oegema, Nicholson Associates is all it took. After our basement flooded, within a day or two they had a crew cleaning everything up, taking down the drywall and itemizing everything to be cleaned, thrown out or restored. They had everything in place for us in a timely manner and were extremely patient with me as they talked me through the process and waited for me to make decisions."
J-Jennifer Parks, Stittsville, Ontario
"I’ve been dealing with ONA for over 20 years with my personal insurance, as well as our commercial insurance, and I know I can rely on them for great customer service, and prompt responses. I feel confident not only referring them to my employees, but to our customers as well."
C-Charlene Brunet, President, Dan Murphy Ford
Saul Mendoza (Salty)
Saul Mendoza (Salty)
My broker Bill C. from ONA has helped me over the years now with my vehicle insurance. He is very cautious and detail oriented when processing documentation, and ensures I understand everything whenever there are any changes. He recently helped me cut my premium almost in half just by improving my record and shopping around at the appropriate time. I am grateful to him and the team for being there for me when I need them.
RMP Tutoring
RMP Tutoring
I was assisted recently by Greg, who did a wonderful job in not only answering all of my questions and helping me to review pre-existing insurance plans, as well as advising me to look into my credit card/group insurance before needlessly purchasing more. This to me speaks highly of the character of the employee and business of a whole, and it is certainly the one I will be going to for any future needs.
They get back to you fast an excellent insurance agent
lise sevigny
lise sevigny
Have been with Oegema for over 30 yrs. Always great service!
Jamie C
Jamie C
Friendly, knowledgeable and professional. They take care of all my insurance needs. Commercial, Home and Auto.
Bob Bent
Bob Bent
Great service on both commercial and personal lines.
Jennifer Bardwell
Jennifer Bardwell
I purchased commercial insurance with this company. Very professional service throughout, and a good price on the policy. Would highly recommend!
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Oegema, Nicholson Financial Inc.
1451 Woodroffe Avenue
Ottawa, Ontario K2G 1W1
5526 Manotick Main Street P.O. Box 149
Ottawa, Ontario K2G 1W1
154 Bridge Street P.O. Box 749
Almonte, Ontario K0A 1A0
243 Castor Street
Russell, Ontario K4R 1B8
3-3809 St. Joseph Blvd.
Orleans, Ontario K4A 0Z8
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