Professional Practice & Freelance Professional Insurance with LMBF
Professionals, whether you’re an architect, an engineer, or even an account, all face a number of unique liabilities. Professionals offer services and advice to clients and deal with sensitive private information daily. No matter the professionalism of your enterprise, mistakes can happen. Should a client perceive you to have made an error or judged you to have failed to meet the standards of a promised service, you could very well face a lawsuit that might put your firm out hundreds of thousands of dollars. Enter professional practice insurance with LMBF. We offer unique professional insurance solutions to help cover your enterprise easier.
What Professional Practice Insurance Covers
Liability
All businesses need commercial general liability insurance, but professional businesses are a breed apart. These businesses may be required to carry professional liability insurance by hiring bodies. Professional liability, or E&O, protects professional enterprises from claims and allegations of negligence.
Property Insurance
Your commercial property, whether owned or leased, needs protection against the elements. Fire damage, wind damage, and damages due to theft and vandalism are generally all covered under your standard commercial property insurance policy. Your contents and building assets, such as your furniture and equipment, may also have protection.
Interruptions
Should your business be forced to close its doors temporarily while repairs are being completed, business interruption insurance can cover ongoing costs - such as rent, bills, employee payroll, etc. This coverage may be available as an option to include with your professional practice insurance package.
- Commercial property
- Commercial liability
- Errors and omissions
- Equipment breakdown
- Undocumented income
- Criminal activities
- Gradual wear and tear
- Intentional actions
What is professional practice insurance?
Professional practice insurance is an insurance package designed for a wide range of professional enterprises, from small single professional enterprises working out of home offices to multidisciplinary companies that generate millions of dollars of revenue every year. Large or small, professional enterprises need insurance to protect their bottom line from physical damages to claims and allegations of errors or negligence.
Types of Professional Insurance Products
Our Professional Insurance Partners
LMBF is confident in its abilities to serve you better and help you find professional practice insurance tailored to your unique enterprise. Thanks to our partnerships and continued collaboration with some of the top professional insurance carriers in Canada, we are confident in helping professional enterprises acquire free quotes and can ensure a program that covers all corners for businesses that need it. You can start today and see how affordable coverage can be with a free professional practice insurance quote.
