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The board may insist that the architect or design firm have professional liability coverage — also known as errors and omissions coverage — to protect the co-op if the work does not conform to expectations or the design is defective.
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Errors and omissions insurance provides coverage in the event that you are held responsible for complaints regarding a service you provided, or failed to provide or that failed to meet the promised results.
The Global Professional unit includes directors and officer's liability, errors and omissions liability and employment practices liability coverage's.
Make sure you have enough liability insurance and consider additional coverage such as errors and omissions insurance or a directors and officers (D&O) policy if you operate under a board of directors.
Errors and omissions inevitably occur.
One is the number of en passant errors and omissions.
Errors and omissions in credit bureau data are common.
Why shouldn't there be errors and omissions?
There are, it should be noted, errors and omissions.
But because of statistical errors and omissions they never do.
We apologise for our errors and omissions, and for the embarrassment caused".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com