Vendor setup · Professional liability
Professional liability insurance
Also called errors and omissions, or E&O.
What it covers
- Professional liability, or errors and omissions, covers wrongful practices by professional service providers. NAIC, as of
Why managers and boards ask for it · commonly requested
- CAI advises hiring a contractor or inspector who carries general liability without a homeowners association exclusion, plus errors and omissions where they act as a consultant. Community Associations Institute (CAI Foundation), as of
- CAI guidance for association maintenance and remodeling projects says a contractor's insurance should likely include construction, property and liability, workers' compensation and professional liability coverage. Community Associations Institute (CAI Foundation), as of
Where VendoRFP asks for it
Each community sets its own insurance requirement when it writes an RFP, and your documents are checked against it before a proposal goes in.
Optional to join
Sources
- Small Business Insurance National Association of Insurance Commissioners (NAIC). As of .
- Community Association Maintenance (best practices) Community Associations Institute (CAI Foundation). As of .
Official pages change. Each line shows the day we last read it.