Canadian Maple Leaf Licensing Info: FSCO (Ontario) #11363,
and serving all other provinces.


Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately


Synonyms:legal malpractice, medical error, medical malpractice, professional malpractice
Filed Under: insurance, legal-contracts
Tags: contract, insurance, legal

Definition of malpractice

1. A form of negligence in which a professional acts in a manner that fails to follow accepted professional standards and in doing so causes an injury (medical, financial, legal or otherwise) that causes the plaintiff harm.

Related Terms and Acronyms:

  • defendant   The accused party in a lawsuit or criminal trial.
  • errors and omissions insurance   Insurance that protects architects, home inspectors and contractors from claims by clients for professional mistakes.
  • indemnity insurance   A class of insurance that covers liability for damages, which includes insurance types such as malpractice insurance and errors and omissions insurance.
  • lawsuit   A suit brought before a court in order to remedy an alleged injustice.
  • malpractice insurance   Insurance that covers professionals from liability due to their own negligence or intentional harm.
  • plaintiff   The party who initiates a lawsuit.
  • professional liability insurance (PLI)   Insurance that covers professionals for liabilities occurring due to negligence or harm in a product or service they provide.
  • settlement   An agreement between the parties of a legal case.
  • tort   An act that causes harm or loss.

Search the Glossary

Our Mortgage Loan Calculator
You will have quite a few decisions to make about your home purchase, but you can simplify the process by using our mortgage calculator. Try different rates, terms, and amortizations and see what modifying your mortgage payment schedule from monthly to biweekly or weekly payments will do to affect what your mortgage will finally cost you.
Try it Loan Calculator
Shop for the Best Mortgage Rates
We do our best to find the best mortgage rates in Canada. But if you do find better rates elsewhere, please let us know.
Find the Best Rates
Best Rates in Canada
We offer Canadians some of the best mortgage rates available on the market. Contact our brokerage today and see why we are the top choice for online mortgages in Canada.
Canada's Best Rates