In your field, you are expected to provide quality services and produce error-free work on a daily basis. Such precision is obviously important in such a highly skilled industry, but despite your best intentions, mistakes or misjudgments are bound to occur. Unfortunately, when they do, even the smallest error can have serious consequences. Clients could sue you or your company, and in addition to paying to defend yourself in court, you would also be responsible for potentially extensive restitution costs if found at fault. If you fail to protect yourself against this liability, the consequences for your business could be financially devastating.
There was a time when the need for Professional Liability was easily identified. Professionals such as Architects, Engineers, Lawyers, Doctors, etc, were obviously in need of the coverage, and that need was easily understood.
However, the world has changed. The traditional Professional Liability industries remain; however, Canadian law has expanded the term “Professional” to include countless industries and individuals. In today’s litigious world you need a broker partner who can identify the potential risk, and educate you on the exposures you may encounter.
At Foster Park Insurance, we are proud to maintain a healthy expertise in the current Professional Liability space, and continue to monitor the courts for judgement s that could further impact our clients in the future. We are a trusted voice in this dynamic, evolving space.