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

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Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.

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Professional Liability Insurance Explained

Levelset

Professional liability insurance protects against claims related to professional negligence. Professional liabilityā€¯ is a newer term that emerged to highlight the fact that these policies often cover extra bells and whistles, like reputation, repair costs, travel costs, subpoena coverage. What is professional liability insurance?