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Professional Liability Insurance Explained

Levelset

Professional liability insurance, also called errors and omissions (E&O) insurance , is a form of risk transfer, meaning that the policy mitigates the risk a contractor faces in their line of work. Both professional liability insurance and errors and omissions insurance refer to the exact same coverage nowadays.

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

Levelset

Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves. In essence, the underwriter tries to determine a cost that anticipates the potential risks the contractor faces in the course of doing business.