HSB Contractors Errors Omissions insurance Contractors EO is a form of liability coverage designed to protect artisan contractors from potential liability exposures resulting from allegations of negligence and errors in the insureds work.

What does contractors e&o cover. Contractors EO covers damage to your work product or impaired property that occurs after the job is complete and that results from your negligence errors or omissions. There are a few primary categories of EO claims. Why do independent contractors need EO.

This insurance can help cover your court costs or settlements which can be very costly for your business to pay on its own. These exposures are assumed to be addressed by the GL policy. For artisanspecialty contractors seeking coverage for errors or omissions in their work that cause damage to loss of.

With our EO coverage for contractors well cover damages you are legally obligated to pay if an error or omission harms your completed work. Here is a close look at what does contractors insurance cover. Contractors professional liability insurance provides coverage that protects both contractors and third-party hires like architects designers and engineers in case of errors and mistakes made.

Though the policy also covers third-party lawsuits it only shields your business from lawsuits based on professional mistakes. For general and design-build contractors or construction managers who have design professionals on staff or who subcontract design services to others to cover their professional liability for design services. Errors and omissions insurance EO is also called professional liability insurance or malpractice insurance depending on the industry.

For example if an independent contractor that works with your business provides false information to a client resulting. However in situationswhere professional services coverage is excluded from or limited on the GL policy you may be able topurchase contingent bodily injury or property damagecoverage by endorsement or through a. This type of policy is designed to provide protection above and beyond the coverage generally offered by.

Professional negligence retroactive claims and subcontractor errors. There is generally no coverage on an EO policyfor bodily injury property damage or personal andadvertising injury. Errors and omissions insurance may cover claims that stem from errors made by employees independent contractors or temporary staff.