article thumbnail

Pollution Legal Liability Insurance More Valuable as a Result of High Court Ruling

Green Building Law Update

Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP).

Insurance 120
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.

professionals

Sign Up for our Newsletter

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

article thumbnail

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

Levelset

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.

article thumbnail

First-Party vs. Third-Party Insurance: What’s the Difference?

Levelset

As you dig deeper into your construction insurance policy, you may come across the terms first-party insurance and third-party insurance. Mastering the difference between these two concepts is crucial to understanding how different types of construction insurance protect you.

article thumbnail

Legal Documents Required for Purchase of Property

CivilJungle

Legal Documents Required for Purchase of Property. But we must avoid the problem and legal situation by checking the documents required for buying property. Every construction work begins with legal approval. The actual owner of land legally sets people by way of every power of attorney. Commencement Certificate.

article thumbnail

Construction Law: Jan/Feb 2024

Construction Law

Legal terms explained David Nitek and Noe Minamikata of Herbert Smith Freehills LLP explain what is meant by ‘hot-tubbing’. Insurance Contracts Works policies Insurance expert John D Wright of JD Risk Associates examines issues arising from Contracts Works Insurance policies.

article thumbnail

New York Home Improvement Contracts: What Residential Contractors Need to Include

Levelset

Let’s start with some basic definitions under NY Gen. This definition also covers a few other types of contracts. The first of these additional requirements pertains to disclosures of insurance coverage. If the roofing contractor has employees, then they must carry worker’s compensation insurance covering all employees.