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Architects & Engineers Insurance For Small Firms In Canada

Architects & Engineers Insurance For Small Firms In Canada

Small Firms | Understanding Architects & Engineers Insurance in Canada

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Architects & Engineers Insurance For Small Firms In Canada is available through the experienced Canadian insurance brokers at ALIGNED Insurance.

ALIGNED Insurance brokers handle Architects & Engineers Insurance For Small Firms In Canada including:

  • Professional liability insurance for environmental engineers
  • Professional liability insurance for mechanical engineers
  • Professional liability insurance for structural engineers
  • Professional liability insurance for electrical engineers
  • Professional liability insurance for other engineers & architects
  • Professional liability insurance for BCIN Designers

How Does Architects & Engineers Insurance For Small Firms In Canada Work?

Architects and engineers are integral in ensuring the successful design and implementation of all development projects, and, as a result, are exposed to considerable risks which is why having the right Architects & Engineers Insurance for small firms in Canada is critical. ALIGNED Insurance is an independent insurance brokerage and works with more than 65 of Canada’s top insurers including Victor (formerly named ENCON).  Victor is one of the Canadian leaders of insurance for Architects & Engineers Insurance For Small Firms In Canada, is endorsed by the Association of Consulting Engineering Companies Canada and Engineers Canada. The right architects & engineers insurance for small firms in Canada helps protect organizations from claims and allegations of professional negligence on the part of the business owner or the firm’s employees.

Typical Coverage Features of Architects & Engineers Insurance For Small Firms In Canada

  • Policy Form – architects & engineers insurance for small firms in Canada is written on a claims-made and reported basis with full coverage for prior acts
  • Policy Period – Limits can be purchased on an annual basis or for a three-year policy term
  • Capacity – Limits are available on a per claim and aggregate basis as follows:
    • $250,000/$500,000
    • $500,000/$1,000,000
    • $1,000,000/$1,000,000
    • $1,000,000/$2,000,000
    • $2,000,000/$2,000,000
    • Higher or excess limits are available if needed
  • Low minimum premiums
  • Simplified application form
  • Duty to defend worldwide
  • Defence costs in excess of the limit in Canada
  • Zero deductible for qualifying risks
  • First dollar defence coverage worldwide
  • Punitive and exemplary damages coverage, where insurable by law
  • Full retroactive coverage
  • Broad definition of Named Insured
  • Broad definition of Professional Services
  • Design-build coverage
  • Equity interest coverage where the insured’s interest does not exceed
    25 per cent
  • Joint ventures with other design professionals
  • Pollution liability coverage
  • Disciplinary action expense coverage ($25,000 sublimit)
  • Occupational Health and Safety Act expense coverage ($25,000 sublimit)
  • Loss of documents expense coverage ($25,000 sublimit)
  • Crisis Event expense coverage ($25,000 sublimit)
  • Breach of confidentiality coverage ($250,000 sublimit)
  • Libel and slander coverage ($250,000 sublimit)
  • Outside Directorship coverage (ODL) for non-profit organizations ($250,000 sublimit)
  • Territory covered by architects & engineers insurance for small firms in Canada – Services rendered and claims made anywhere in the world
  • Guaranteed annual premiums for term

How Do I Get A Quote For Architects & Engineers Insurance For Small Firms In Canada?

For questions or to learn more about Architects & Engineers Insurance For Small Firms In Canada speak to an ALIGNED Insurance broker today at 1-866-287-0448

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Additional Insurance Coverages For Canadian Architectural & Engineering Firms

FAQs

1. Do architects and engineers need business insurance?

Yes. Engineers and architects are required to carry or be covered under an Errors and Omissions / Professional Liability insurance policy. If you’re an engineer, architect or any other design professional, check with the licensing body of your profession in your province, territory or jurisdiction to know for sure if you’re required to carry insurance and what type of insurance you must have or what type of business activities must be covered by an insurance policy. 

Whether as an architect, engineer or another design professional you’re required to be insured under any other business insurance policies or not, your risks and potential liabilities aren’t confined to just professional errors or omissions. Other sources of potential liability include a client or member of the public being injured on your property, your computer or network getting hacked and your clients’ personal data being compromised or a former employee claiming they were wrongfully terminated. Please see our pages on Commercial General Liability Insurance, Cyber Liability & Privacy Insurance and Employment practices wrongful act liability coverage for information on other types of business insurance for architects and engineers.

2. Can professional engineers be held personally liable?

This question/answer is complicated. Personal liability can depend on the structure of the business, i.e. sole proprietorship vs partnership vs corporation. It can also depend on the type of liability in question. For example, professional liability for any error or omission vs breach of contract. It also depends on whether someone was injured or not and the current case law. For questions regarding legal liability, whether personal or professional, please seek the advice of a lawyer who specializes in this field. 

3. Do I need insurance for contractors I work with?  

That depends. You may or may not be required to insure people you contract to carry out your designs or independent design professionals you work with for your licensing requirements. Also, the terms of the contract may stipulate that you and/or your firm are responsible for overseeing the work of contractors you hire or that you are ultimately responsible for the work they do and the materials used during construction. 

For the most part, if something does happen and a structure you or your firm designed does fail, it will take an inspection and possibly a court case and a judgement to determine who is liable for the structure failing. This is why having insurance that covers liability is crucial for architects and engineers. 

4. What affects how much architects and engineers pay for professional liability insurance?

There are a number of factors that help determine how much an architect or an engineer pays for professional liability insurance. Some of those factors include years of experience; the type of work done and the level of involvement in construction projects; professional designations; the industries that you and/or your firm service; annual revenues; the number of employees in your firm; and any past history of insurance claims.    

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