When you hear about errors and omissions insurance, you most often hear about it in reference to lawyers and health professionals, such as doctors and nurses. However, those are not the only professions that could potentially be sued for alleged errors or omissions. Architectural engineers are also at risk for being taken to court over a claim of negligence in relation to their profession. Because engineers do not deal with the same type of confidential information that lawyers and medical professionals deal with, is it very important for them to always carry insurance coverage for errors and omissions architecture?
Be Prepared With E&O Coverage
Since there is always the possibility that engineers could be faced with legal costs associated with errors and omissions claims, it is just as important for them to have errors and omissions architecture coverage as it is for lawyers and medical professionals to be protected with a good E&O insurance policy. Architectural engineers who forego this important coverage may find themselves faced with the responsibility of paying expensive legal costs completely on their own. Depending on the size and status of their company, they may not be able to recover from such a large financial loss.
Assessing Risks and Choosing Appropriate Coverage
In order to determine if you need errors and omissions architecture coverage, you should carefully assess your risks and purchase E&O coverage if you have any chance of being accused of errors and omissions in your profession.