Errors and Omissions (E&O) Insurance BC

Small business owners, contractors, freelancers, and self-employed professionals across B.C. who provide advice, services, or develop products for their clients need an errors and omissions (E&O) insurance policy to protect their finances and reputations.

Also called professional liability insurance, E&O insurance covers you for allegations of negligent acts, mistakes, or omissions that cause financial or reputational harm to your clients. It also covers you for misconduct accusations and failing to deliver a service as promised. Furthermore, it can include coverage for your media and advertising services if a client is sued for defamation.

Wherever your business is located and where you provide your services across Canada’s westernmost province and beyond, a comprehensive E&O insurance policy from Zensurance is the vital foundation your risk management strategy needs.

E&O insurance protects small business owners and professionals offering their clients advice, services, or expertise. It serves as financial support if your services and guidance lead to allegations of wrongdoing from one of your clients, including:

• Claims of professional negligence
• Mistakes or oversights related to your services or the advice you provide
• Failing to deliver a service promised to a client
• Accusations of professional misconduct
• Allegations of misrepresentation or making false statements
• Neglecting to fulfill your duty or breaching a contract
• Cyber-attacks, data breaches, privacy violations, or mishandling of confidential client information
• Claims of copyright or trademark infringement
• Not adhering to industry standards and recognized best practices
• Claims that your media and advertising services resulted in a client being sued for defamation

The cost of an E&O insurance policy is determined by an insurance company based on your business’s or profession’s specific details, including:

• The location of your head office or commercial property
• The industry you’re in and the services you provide
• The types and sizes of the clients you serve
• Your years of experience as a business owner or independent professional
• Your education, training, and professional certifications
• Your full- and part-time employee headcount (if applicable)
• What your annual and projected revenue is

A basic E&O insurance policy with a $100,000 coverage limit costs approximately $250 annually for a small business in B.C.