Product Update

Contractors Professional Liability Insurance Coverage Discussion Added to Professional Liability Insurance

This Professional Liability Insurance release adds a new discussion on contractors professional liability. Since most contractors' commercial general liability policy will have a professional liability exclusion attached, many contractors have a need for professional liability insurance for their errors and omissions.

This added discussion lists some of the key markets for contractors professional liability insurance and also analyzes the professional liability, protective indemnity, and rectification insuring agreements. Other provisions like coverage triggers, covered parties, covered services/acts/damages, and territorial provisions are also discussed. The section also features a comprehensive list of more than 30 exclusions that could appear on contractors professional liability insurance policies and any potential modifications that should be sought after. Defense, claim settlement, and deductibles are also addressed. The section concludes with an analysis of several other miscellaneous provisions typically appearing in the conditions section of these forms.