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Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.
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.
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.
As a result, the home builder could be considered a joint employer, potentially making them liable for employment law violations by a trade partner or for negligence or an injury caused by a subcontractor’s employees. Those answers will vary depending on the insurance plan.
Injuries, harassment, lapse in compliance, and alcohol-related incidents are all to common in far too many workplace holiday parties. Medical insurance and workers’ compensation premiums can also take a heavy hit. Harassment and Discrimination. This is especially true when alcohol is a factor.
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