ECNETNews reports that a leading global specialist insurer has launched a groundbreaking digital Professional Liability insurance product tailored specifically for contractors. This innovative offering includes customized options for both general contractors and artisan subcontractors, setting a new standard in the industry with its digital accessibility.
Comprehensive Coverage for General Contractors
The new Professional Liability insurance for general contractors provides extensive coverage for various risks associated with on-site professional services. This includes protection against claims related to design and engineering errors, as well as job site pollution liability and potential regulatory challenges from entities such as the Federal Housing Administration (FHA), Occupational Safety and Health Administration (OSHA), and the Americans with Disabilities Act (ADA).
This policy also offers defense against bodily injury and property damage claims stemming from professional services. Notably, contractors are safeguarded against unfounded lawsuits regarding their professional liability, ensuring they are not burdened by expensive legal issues that could jeopardize their business operations.
Specialized Coverage for Artisan Subcontractors
The newly launched Professional Liability product also includes a distinct version attentively designed for the unique challenges faced by artisan subcontractors. In addition to the coverages provided to general contractors, this product offers dedicated coverage for faulty workmanship, addressing claims related to insufficient skill, quality, or defective materials. For instance, a framer needing to redo work due to non-compliance with approved construction plans would be covered under this policy.
This initiative highlights the commitment to ensuring contractors can focus on their expert skills without the stress of potential legal challenges. The Professional Liability coverage for both general and artisan contractors is now available online, simplifying the process of acquiring high-quality insurance. This development allows contractors to operate with confidence, knowing that they are equipped to handle any professional exposure that may arise.
