Errors and omissions insurance may cover claims that stem from errors made by employees independent contractors or temporary staff.

What does contractors e&o cover. Errors and omissions insurance EO helps cover the cost of a lawsuit if a client claims your work was inaccurate late or never delivered. Professional negligence retroactive claims and subcontractor errors. Why do independent contractors need EO.

For artisanspecialty contractors seeking coverage for errors or omissions in their work that cause damage to loss of. An Errors Omissions insurance EO policy is primarily meant for businesses within the professional services sector or for those that offer professional advice to protect the business when an employee makes a mistake. Areas Of Coverage For Contractors Insurance.

Errors and omissions insurance also known as EO insurance and professional liability insurance helps protect you from lawsuits claiming you made a mistake in your professional services. Errors and omissions insurance EO is also called professional liability insurance or malpractice insurance depending on the industry. This insurance can help cover your court costs or settlements which can be very costly for your business to pay on its own.

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. This policy has a narrower focus than general liability insurance. 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.

Prior to the introduction of these policies the few markets that offered this coverage did so by endorsement to a design professional liability policy and coverage was typically. 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. This type of policy is designed to provide protection above and beyond the coverage generally offered by.

Though the policy also covers third-party lawsuits it only shields your business from lawsuits based on professional mistakes. In the event that your company is held liable EO would cover the cost to repair or redo faulty work as well as any legal defense against those claims. With our EO coverage for contractors well cover damages you are legally obligated to pay if an error or omission harms your completed work.