Even if you operate entirely online, having insurance can protect against financial risks. While Ontario law doesn’t specifically mandate commercial insurance for online-only ventures, you could still face claims like data breaches, copyright issues, or product liability. Common coverages include:

1. Commercial General Liability (CGL)

• Protects you against claims of bodily injury or property damage related to your business operations, including product liability if you sell physical products.

2. Professional Liability (Errors & Omissions)

• Covers allegations of negligence or mistakes in your services, especially relevant if you offer consulting or digital services.

3. Cyber Insurance

• Protects against data breaches, hacking, or other cyber-related incidents that could disrupt your online operations or expose customer information.

Though not always required by law, many online platforms and service providers recommend or require proof of insurance. Always review contract requirements, platform terms, or local regulations to ensure you have the appropriate coverage.