Circumstance and Claim Reporting Non-Compliance Fatal to Triggering Professional Liability Coverage
Professional liability insurance is a necessary business expense. The professional liability policy provides the design professional with a sense of financial security against errors and omissions. The policy also provides project owners and contractors with a level of comfort that a “deep pocket” will be available for any additional project costs caused by professional negligence. Too often project professionals, owners and contractors consider the purchase of the professional policy to be sufficient for ensuring negligence coverage.