Errors and Omissions Insurance in New Brunswick
FCNB describes errors and omissions insurance as protection for service providers against claims arising from mistakes they may have made. The exact professional activities, retroactive date, exclusions and claim-reporting rules must be checked in the policy.
What to know
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Confirm the current contract, regulator guidance and WorkSafeNB status before applying this point to a specific business.
Describe the service accurately
Professional-liability underwriting starts with what the business actually advises, designs, manages or delivers. A broad business description can miss a service that needs to be declared.
Claims-made timing can matter
Many professional-liability policies use claims-made structures. Check the reporting period, retroactive date and continuity requirements rather than assuming a current policy covers every historic service.
Professional and general liability are complements, not substitutes
A client injury at the office and a financial loss caused by alleged professional advice are different exposures. A business may need both liability layers depending on its operations.
Verify the current New Brunswick requirement
Workers' compensation rules, insurance licensing and commercial policy wording can change. Use the primary source below before making a business decision.
FCNB — Business Insurance →