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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.

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

Levelset

While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss. Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves.

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Contractor Management and Prequalification: Why Are They Necessary?

Safety Services Company

The Importance of Prequalification and Contractor Management Prequalification refers to the process of assessing and evaluating potential contractors or subcontractors before awarding them a project. Avoiding Legal Issues Hiring clients hire a licensed contractor to save themselves from legal liabilities and low-quality work.

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Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. Also referred to as a named insured, all policy coverages, exclusions, and conditions generally apply to the policyholder. What does additional insured cover?

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Insurance for HVAC Contractors: What It Covers and Why You Need It

Levelset

Heating, ventilation, and air conditioning (HVAC) contractors must protect their business property while reducing the odds that a job-related accident or injury could financially harm their business. The contract may ask that each sub carry a liability amount of $2 million, for example. Insurance Policies HVAC contractors need.

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Unlimited liability for designers and contractors

Construction Lawyer

The cases with which he has been involved are varied and wide-ranging and include personal injury, breach of contract, criminal defense, commercial disputes, and consumer fraud. Sabo & Zahn LLC is an Illinois Limited Liability Company. All references to "Sabo & Zahn" refer to Sabo & Zahn LLC. Copyright Notice. Disclaimer.

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Specifying snow retention systems

Construction Specifier

Rooftop avalanches cause property damage to the tune of hundreds of millions of dollars, personal injury, and death each year. Inadequate snow guard systems—or the lack of them—can potentially create liability issues for building owners, designers, and contractors. Liability concerns. All images courtesy S-5! by Rob Haddock.