Certificates of insurance for architects/engineers- Certificates of insurance provide information about your general liability, automobile liability, umbrella, workers compensation, professional liability, and cyber liability insurance policies. The information provided is the type of policy, the insurance company, policy number, effective…
Key definitions in a professional liability policy for architects/engineers- The whole professional liability policy is important to understand, however, there are a few key definitions that your firm should pay attention to. Your firm will want to know who an…
When is a good time to get an extended reporting period for an architect/engineering firm on a professional liability policy? The extended reporting period may also be referred to as a tail policy. The extended reporting period is an extended…
What is an insuring agreement on architects/engineers’ insurance policies? An insuring agreement is a legal contract between the insurance company and the entity being insured. It is the portion of the policy that the insurance company promises to make payment…
Should my architecture/engineering firm switch insurance companies on our professional liability renewal when we have an open claim? It is typically advised that you stay with the same insurance company when your firm has an open claim. Generally speaking, it…
Selling My Firm – What To Do What to do if I am selling my architecture/engineering firm or shutting it down altogether? There is a lot to consider when selling your firm or shutting it down. Insurance is one of…
Should my architecture/engineering firm file a claim against your professional liability policy? This question comes up from time to time and the answer is yes. Your firm’s policy is there to protect your firm in the event of a claim….
Completing your architecture/engineering firm’s professional liability renewal application- While the renewal application may seem repetitive each year and tedious at times, it is important to complete the application in full and accurately. Not only do you sign at the bottom…
Endorsements of a policy that my architecture/engineering firm may need- Each insurance policy, whether it is business owner policy, workers compensation or professional liability has different endorsements that may be included for your firm. Typically, these requests will be due…
The importance of reading your architecture/engineering firm’s professional liability policy- Reading your insurance policies is important regardless of what type of policy it is. However, the professional liability policy is unique to each insurance company, and it is always good…