Professional Liability Insurance Requirements for Construction Projects
With the spending of government stimulus money well under way, many civil projects have either started, are being bid or are in the planning stages. Contractors who are awarded these projects will be required to maintain various types of insurance but some, such as professional liability are not so cut and dry as far as when they are really necessary and what limits are required. Insurance specifications are typically written for a wide audience rather than being tailored to a specific project. Tim Farrell, in his article titled "Professional Liability Insurance Requirements for Construction Projects," which was recently published in "Construction Business Owner," discusses some of the steps that contractors can take when bidding on a project to ensure their bid includes the appropriate professional liability coverage that not only meets the needs of the project but also protects them against potential future claims.
To read the complete article, click here. Contact Tim Farrell or any of the staff at New Day Underwriting Managers at 609.298.3516 or info@newdayunderwriting.com to find out how we can work together to find the appropriate professional liability coverage for your contractor clients.
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