As an engineering firm, you take great pride in the work and projects that you complete. The complexities of your projects expose your firm to potential liabilities including design flaws, equipment failures, environmental factors and legal disputes. Many clients and regulatory bodies require engineering firms to carry insurance in order to qualify for projects, contracts or maintain compliance with industry standards. Having the right insurance in place not only fulfills these requirements, but is also a strategic investment that shields your firm from any potential financial setbacks.
Types of coverage to consider for your engineering firm
- Errors & Omissions (E&O): Also known as Professional Liability, this is an essential coverage for engineers. If the advice or service that you offer doesn’t meet the expectations of your client, you could be held liable for professional negligence.
- Commercial General Liability (CGL): This provides coverage for third-party bodily injury or property damage claims that may occur at your office or on a job site. It is essential for protecting against legal actions brought by clients, contractors, or other parties.
- Cyber Liability If your business relies on technology or computer systems to run, then you are likely exposed to a number of cyber risks. Cyber liability helps your firm recover from cyber attacks and minimize downtime.
- Tools and Equipment: This coverage protects against the loss, damage, or theft of equipment used in your projects. It ensures that operations can continue smoothly in the face of unexpected setbacks.
- Directors & Officers (D&O): This provides coverage for directors and executives within your firm and protects them from legal claims that may arise from their actions as corporate officers.
The types of insurance you need will vary based on your specific needs and business practices, so it is important to discuss your particular situation with an experienced insurance broker who can determine the right engineering insurance program for you.
Who would benefit from Engineering Insurance?
- Architectural Engineers
- Civil Engineers
- Chemical Engineers
- Computer Engineers
- Environmental Engineers
- Electrical Engineers
- Geotechnical Engineers
- Mechanical Engineers
- Oil Field Engineers
- Petroleum Engineers
- Structural Engineers
Protect your investment in your firm with a comprehensive engineering insurance package. When determining your insurance needs, it is best to work with a broker that is knowledgeable in the Canadian engineering and geosciences industry. Fuse insurance works with Canada’s leading engineering insurers in order to secure competitive pricing and high-quality insurance coverage.
Need your coverage in place quickly? We’ve simplified the quoting process with an easy-to-understand application form created exclusively for engineering and geoscience professionals.
Get in touch with one of our brokers who can answer any questions you have and review your current insurance program. Give us a call at 1-866-387-FUSE (3873) or fill out our quick and easy online quote application form now.