article thumbnail

Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

article thumbnail

Phase l Environmental Site Assessment Standard Being Revised

Green Building Law Update

Environmental Protection Agency as satisfying its All Appropriate Inquiry rule to obtain protections from liability under CERCLA, the federal Superfund law. Task Group, after more than a year of work, has balloted a draft revised standard and results are expected as early as next week. 9601) and petroleum products.” The ASTM E50.02

Site 296
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

HRECs in a Phase l are Not Recognized Environmental Conditions

Green Building Law Update

By way of background, a Phase I environmental site assessment is the process of evaluating a property’s environmental conditions and assessing potential liability for contamination. History says, ‘see you later.’”. And in another blog post last month, I wrote, I Just Read my 1000 th Phase I Environmental Site Assessment this Year.

Liability 156
article thumbnail

Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss. Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves.

article thumbnail

Direct Contractors In California Should Take Steps Now To Reduce Exposure For Unpaid Wages By Subcontractors

Construction and Infrastructure Law

AB 1701 “does not prohibit a direct contractor or subcontractor at any tier from establishing by contract or enforcing any otherwise lawful remedies against a subcontractor it hires for liability created…” Accordingly, direct contractors across California should take a closer look at the terms of their agreements with subcontractors.

article thumbnail

5 Must-Have Clauses in Your Next Construction Contract

Construction Law Monitor

Certain clauses are critical for any contract to effectively protect your rights and minimize your liabilities. An indemnification clause obligates one party to compensate the other party for certain losses or damages resulting from third-party claims. This compensation is unrelated to other contractual obligations and damages.

article thumbnail

5 Must-Have Clauses in Your Next Construction Contract

Construction Law Monitor

Certain clauses are critical for any contract to effectively protect your rights and minimize your liabilities. An indemnification clause obligates one party to compensate the other party for certain losses or damages resulting from third-party claims. This compensation is unrelated to other contractual obligations and damages.