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Professional Liability Insurance Explained

Levelset

In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments. 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.

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

Levelset

While E&O is not usually a legal requirement, many construction professionals take out an E&O policy to protect themselves against potentially devastating financial losses resulting from negligence. A construction contract creates a legal responsibility for the contractor to fulfill certain obligations to another party.