What insurance needed for APEGA Permit holder corporations?

[ExtraSlow]

We've had lots of discussions on how an individual should protect themselves as a "practicing engineer". But for a company, one that holds an APEGA permit to practice, and employs multiple professional engineers working on more than one type of scope or product, what kind of insurance does that corporation need?

Thoughts and opinions appreciated.
@msommers you might know this.

[pheoxs]

You'd want 'Errors and Omissions' insurance and it's pretty common policy to get for a corporation or as a contractor.

[schurchill39]

I've got a permit to practice and technically two employees both working in different fields. I carry insurance for my corp instead of individually. You get your typical E&O insurance and general liability but there will be lots of questions about the scope of each of their practices (or I guess the scope of the company working on those different projects). You definitely need to work with a broker on it because I was getting quotes that were as high as $11k/year and as low as $3k as well as some who refused to insure us for what ever reason. The amount of questionaires and specific details you will need to provide is a bit daunting but thankfully you only have to do it once and say "nothing has changed" for every year thereafter unless you're changing scope again.

[tonytiger55]

As written above. It comes under E&O, and Profesional Liabilty. But that is really broad. Depending on the risks, different endorsements may be added to the policy and in some cases bespoke Manuscripts.
Instead of going to each insurance company where they will ask detailed questions. Go a broker. You will complete details of your business, scope of projects, costs etc.

Then the broker will find a insurance company to cover the risk's. Some insurance companies(like the one I work for) only do wholesale and specfic segments of the market. Different insurance companies may have more tailored products to suit a specific risk.
If one quote is low and the other is high. Don't take it personally, each insurance company has a target appetite of what they want to underwrite and speciaism. That changes year upon year too.
The benefits of developing a relationship with a good broker is that they understand your business, if a project changes. New endorsements can be added on temporarily.