What does Project Liability Insurance mean? Read on to discover the definition & meaning of the term Project Liability Insurance - to help you better understand the language used in insurance policies.
Project Liability Insurance
A form of architects and engineers (A&E) liability coverage in which coverage applies only to an insured's work on a single project rather than to the entire scope of an insured's practice. Such policies are advantageous because they provide coverage for all members of a project's design team, reduce the incidence of disputes in the event of a claim, ensure coverage continuity following completion of work, and facilitate the availability of high limits needed on large projects.
We hope the you have a better understanding of the meaning of Project Liability Insurance.