General E&O FAQs

Errors and Omission ("E&O") insurance covers you for claims that arise out of your professional services, including acts, the failure to act and negligence.

It is a requirement of The Insurance Act and The Insurance Regulations that E&O coverage must be maintained and proof of a valid policy provided annually to hold an active licence.

The specific E&O requirements for insurance intermediaries and adjusters are set out in subsection 5-10(1) of The Insurance Regulations. 

The specific E&O requirements for restricted insurance agents are set out in subsection 5-23 of The Insurance Regulations.

No. P&C agents who are covered under their agency’s E&O policy are not required to submit an E&O Certificate of Insurance.

Where E&O coverage is held by the agency: 

• The agency uploads the agency’s E&O certificate 

• Individual P&C agents do not upload anything 
• These individual agents are not required to submit duplicate proof of coverage 

There is no expectation that individual P&C agents submit proof of an agency‑held E&O policy. 

If a valid E&O Certificate is not received by the policy expiry date:

• Your licence will be automatically suspended
• You will no longer be authorized to carry on the business of insurance as defined in subsection 2-1(2) of the Act.
• Operating while suspended is a contravention of the Act and may result in prosecution

Your licence may be investigated to determine whether insurance business was conducted during the period your licence was suspended. Reinstatement may not occur until any required investigation is completed.

Additional consequences may include suspension of the licences of:

• Employees of a suspended agency
• Individuals you recommend; and
• Individuals for whom you act as designated representative.

Agents are also no longer able to represent a suspended agency.