Insurance that covers professionals if they make a mistake in their design or advice that causes financial loss.
Errors and omissions insurance, also called professional liability insurance, protects design professionals and contractors against claims of negligence, mistakes, or failures to perform professional duties. In construction, E&O is carried by architects, engineers, and design-build contractors to cover claims arising from faulty designs or specifications. Unlike CGL, E&O covers financial harm resulting from professional errors rather than physical property damage.
An engineer's E&O policy responds when a structural miscalculation in the design drawings requires expensive remediation after the building is framed.
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