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Seedsmens Errors And Omissions Liability Insurance

Seedsmen's Errors and Omissions Liability Insurance

Definition

Coverage purchased by seed dealers, growers, wholesalers, and others who grow, sell, or distribute seed. The policies are designed to cover an insured's liability for claims such as failure to germinate, errors in germination tests, and mislabeling. The policies are a form of product guarantee insurance that complements the products liability coverage available under a commercial general liability (CGL) policy form. The CGL policy form is intended to cover any damage to property, other than to the seed itself, and any bodily injury (BI) that results from that seed. In contrast, the seedsmen's errors and omissions (E&O) form covers the failure of the product to perform and the consequent economic losses (e.g., loss of a season's crop) that result from that failure.

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