Regardless of the type of business you operate – Accounting, Consulting, Freelancing – you need the right insurance coverage. We are here to provide you with the tailored insurance package to fit your needs. Already covered? We also offer a no-obligation renewal review. Too many businesses are paying too much, or carrying the wrong limits, without ever knowing it.
Partnerships With Over 15 leading Canadian Insurance Providers
Customers love choice. And they love saving too! At Munn Insurance, we deliver on both. As an independent insurance broker, we shop our extensive network of insurance partners to provide our customers with choices to provide the best coverage at the best rate. Some of the insurance companies we search for our customers include:
What’s Included in Professional Services Insurance?
A comprehensive Professional Services Insurance policy is designed to protect your firm from these specific exposures, and typically includes the following four core protections:
Professional Liability (Errors and Omissions)
Errors and Omissions coverage responds when a client suffers financial harm as a result of a mistake you made or something you failed to do. For accountants, a miscalculation. For IT consultants, a missed configuration. For architects, an overlooked specification. E&O coverage pays for your legal defence costs, settlements, and any damages awarded, helping your business absorb a claim that could otherwise be business-ending. This is often the coverage most directly required by client contracts and professional licensing bodies.
Commercial General Liability
Commercial General Liability insurance protects your business if a third party suffers bodily injury or property damage connected to your business operations. This can include a client slipping in your office, accidental damage to a client’s property during a site visit, or other non-professional liability events. Many commercial leases, client contracts, and professional association memberships require proof of CGL coverage as a baseline condition of doing business.
Cyber Liability Insurance
Essential for many professional service organizations as it protects your business from data breaches and other cyber threats that could affect your system network. Incurred expenses could include notifying clients about breaches, credit monitoring, cyber theft demands and public relations. This coverage is most important for consultants who handle sensitive data or advise clients about IT systems and cybersecurity.
Business Interruption
This coverage reimburses lost net business income and fixed overhead expenses (rent/payroll) if operations are paused due to any insured loss.
Already Insured? It Might Be Time for a Second Opinion.
Many professional firms in Atlantic Canada haven’t reviewed their E&O or professional liability limits since they first launched. Businesses grow, scopes of work expand, and the risk profile of your firm today is likely very different from what your current policy was written to cover.
At Munn, we offer a no-obligation renewal review for professional service firms.
A quick, independent assessment of whether your current coverage is still the right fit. Our commercial brokers compare your policy limits, exclusions, and premiums against the market to see if you’re paying more than you should, or carrying gaps you may not know about.
Contact Marcel at [email protected] Or toll free at 1-855-726-8627
Real people.
Our customers love to save.
I am incredibly impressed with Munn. The person I spoke with really cared about my needs and didn’t brush me off as some competitors try to do.
They actually listened, did all the legwork, and came back with cheaper quotes on over five of my policies … I’d definitely recommend reaching out to them at MUNN. It was absolutely worth it for me.
I thought it would be difficult to switch from my current insurer – but my new policy was easy to set up! Plus I saved on my car and home insurance.
Frequently Asked Questions about Professional Services Insurance
The most reliable way to evaluate your current coverage is to have an independent broker review it particularly at renewal time. Signs your policy may need updating include:
- Your revenue or headcount has grown significantly since the policy was issued
- You’ve expanded the scope of services you offer
- You’ve taken on larger or more complex client contracts
- Your premiums have increased at renewal without a clear explanation
- You’re unsure whether your policy is on a claims-made or occurrence basis
Munn offers a no-obligation renewal review for professional firms. Contact us to review your policy.
A comprehensive Professional Services Insurance policy typically includes:
- Professional Liability (Errors and Omissions)
- Covers financial harm caused by a professional mistake or something your firm failed to do; a miscalculation, a missed configuration, an overlooked specification. Pays for legal defence, settlements, and damages.
- Commercial General Liability
- Protects your business if a third party suffers bodily injury or property damage connected to your operations; a client slipping in your office, or accidental damage during a site visit.
- Cyber Liability Insurance
- Covers costs from data breaches and cyber threats; client notification, credit monitoring, cyber theft demands, and reputation management. Essential for firms handling sensitive client data.
- Business Interruption
- Reimburses lost income and fixed overhead if your operations are paused due to an insured loss.
Coverage is tailored to your specific profession, client contract requirements, and risk exposure.
The cost of E&O and professional liability insurance varies based on several factors:
- Your profession and the nature of services provided
- Annual revenue and number of employees
- Coverage limits and deductible selected
- Your claims history
- The size and complexity of client engagements
As an independent broker, Munn shops your coverage across 15+ Canadian insurers to find the most competitive rate for your risk profile. Many professional service firms are surprised to find they can improve their limits or eliminate coverage gaps without increasing their premiums.
Professional Liability Insurance, often called Errors & Omissions (E&O), is a type of business insurance designed specifically for firms and individuals who provide professional services or advice for a fee. It protects your firm if a client claims that your work, advice, or omission caused them financial harm. Unlike standard general liability coverage, E&O responds to the financial consequences of professional mistakes, and covers legal defence costs, settlements, and judgments even if the claim is ultimately found to be without merit.
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