Owners protective errors and omissions insurance coverage

{
  "id": "MLC-T-INS-002471",
  "term": "Owners protective errors and omissions insurance coverage",
  "field": "Insurance and risk management",
  "definition": "Professional liability insurance designed to protect project owners from financial losses due to errors, omissions, or negligence by architects, engineers, or other design professionals they hire. This coverage addresses claims arising from faulty design, inadequate specifications, or professional malpractice that leads to project delays, cost overruns, or structural failures. It is distinct from general liability or property insurance.",
  "url": "https://mlchart.com/terminology/insurance/owners-protective-errors-and-omissions-insurance-coverage/"
}