In construction, there are a variety of insurance policies that contractors and design professionals need to consider. One of the most important is professional liability insurance, which is designed to protect against claims of negligence or errors in professional services. In this article, we'll explore how professional liability insurance differs from other types of insurance in the construction industry and provide examples of professional liability exposures in building design and construction.
Professional Liability Insurance vs. General Liability Insurance
General liability insurance is a common type of insurance, but it differs from professional liability insurance in several ways. General liability insurance is designed to protect against claims of bodily injury or property damage that result from accidents or other unexpected events. For example, if a worker falls off a ladder and is injured on a construction site, general liability insurance would cover the costs of medical treatment and any legal fees associated with the claim.
Professional liability insurance, on the other hand, is designed to protect against claims of negligence or errors in professional services. This type of insurance is particularly important for design professionals, such as architects and engineers, who are responsible for ensuring that buildings are safe and structurally sound. If a design professional makes an error in their work that leads to property damage or bodily injury, professional liability insurance would cover the costs of any legal fees or settlements associated with the claim.
Examples of Professional Liability Exposures in Building Design and Construction
There are many different types of professional liability exposures in building design and construction. Here are a few examples:
If you're a contractor or design professional in the construction industry, it's important to ensure that you have adequate professional liability insurance coverage. Don't wait until it's too late to protect yourself and your business from claims of negligence or errors in professional services. Contact AssuredPartners Construction today to learn more about professional liability insurance and how it can help protect you and your business.
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