Archives for Insurance

Professional Liability Premiums

Professional Liability Premiums The economy is experiencing growth at a consistent rate for the first time in a long time. With the uptick in business comes with it higher expenses for most companies, including professional liability premiums. It would make…

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Professional Liability Claim?

What does my design firm do in the event of a Professional Liability claim? There are several steps in the claims process for Professional Liability. The first step is report the claim to your Professional Liability insurance company or your…

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My Predecessor Firm

My Predecessor Firm – Does my Professional Liability policy cover it? There are a few factors to verify with your insurance company with regards to your predecessor firm. The first and probably the most important factor to determining if your previous…

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Saved By the Contract

Saved By the Contract   The Facts Acme Engineers was hired by Perfect Paperz to provide a feasibility study and engineering report for the company’s wastewater treatment plant at its nearby paper recycling mill. After the study, but prior to…

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Home Safety While on Vacation

Home Safety While on Vacation Don’t let the anticipation of a well-deserved vacation blind you to the risks of leaving your home unprotected. Go ahead and plan your holiday, but take precautions before you leave. Consider Hiring a House-or Pet-Sitter…

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Directors and Officers Insurance

Directors and Officers Insurance Directors and officers (D&O) liability insurance protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual…

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Navigators Design Professionals

Allison Esrig, head of the architects and engineers Professional Liability group, and Roseanne DeBellis, senior claims counsel, work for different departments at Navigators, but the brokers and companies they serve would never think of them as operating in two different…

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Recreational Vehicle Insurance

RECREATIONAL VEHICLE INSURANCE Mother nature has finally caught up with the calendar here in Michigan.  Now is the time to start thinking about rolling out all those fun ‘toys’ we store away all winter long, just waiting for spring to…

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Spring Webinar

Spring Webinar Spring is upon us (at least calendar-wise) and Great American Insurance Group would like to invite you to their spring webinar. On April 25th 1PM (Eastern) Great American Insurance Group is hosting Kent Holland of ConstructionRisk LLC to…

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Vacation Safety Tips

Vacation Safety Tips! Vacations are a time to relax and have fun, but travel can quickly unravel due to unforeseen disruptions; including travel delays, medical emergencies, and crisis situations. There are ways to prepare and prevent any interruption while on…

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Avoiding Litigation

Engineering on the Margin: Practical Considerations for Avoiding Litigation Architects and engineers have enough to worry about while designing their projects that the thought of a claim is sometimes the last thing on their minds. Further to that, the thought…

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Claim Denied – Why?

Claim Denied – Why? Reasons a Claim Can Be Denied on a Professional Liability Policy for Architects and Engineers While this is not something that happens very often it can happen and its best to understand the reasons why a…

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Explaining ‘Limit of Liability’

Explaining ‘Limit of Liability’ on Professional Liability Policy for Architects and Engineers There are some portions about the limits of liability in Professional Liability policies that your firm should be aware of. Aggregate limit – What does an aggregate limit…

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Insurance for Cryptocurrency

  Insurance for Cryptocurrency Cryptocurrencies, including Bitcoin, Ethereum, Ripple, etc.,  may be the waive of the future as more and more companies are beginning to accept the products as legitimate currency. Along with this wide acceptance comes the potential for risk…

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Request For Proposal (RFP)

  Request For Proposal (RFP) One of the challenges that our clients face almost every day is responding to a Request For Proposal (RFP). Because this is an important part of our clients responsibilities, we are always happy to assist…

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Mediation Deductible Credit

Mediation Deductible Credit in a Professional Liability Policy for Architects and Engineers Many carriers will give a credit to your deductible if your firm agrees to mediation during the claims process.  Below are examples of the mediation credit in policies:…

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Professional Services

Professional Liability for Architects and Engineers – defining Professional Services Each insurance company has a different definition of what is considered a Professional Service under the policy.  It is essential that your firm is aware of what services your firm…

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Social Engineering

Social Engineering – What is this new phrase you have been hearing about?  Social engineering, in the context of information security, refers to psychological manipulation of people into performing actions or divulging confidential information. This is becoming very common and more…

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Construction Contract Administration Services

Construction Contract Administration Services Q: I feel that there is more risk doing contract administration services. Am I better off avoiding providing that service? A: There is no indication that providing construction contract administration services (CA), if done properly by…

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Copyrights in Design Contracts

Copyrights in Design Contracts A copyright may not be the first thing a design professional contemplates while reviewing or writing a contract. Standard design industry contracts (e.g., AIA and EJCDC), keep the copyright with the design professional and provide for…

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Insuring Personal Jewelry

Jewelry Putting an insurance policy on your engagement ring may sound unromantic, but nothing’s sweeter than peace of mind. Many Homeowners or Renters policies will include a limited value for jewelry. However, this coverage will only apply when there is…

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Auto Liability and Your Employees

Auto Liability and Your Employees Guard against personal use loss A LOSS LESSON The incident A contractor allowed an employee to operate their commercial vehicles (pick up trucks) while on personal business. As a permitted user, the employee hit a…

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That’s good to know!

That’s good to know!  Things you may not have known about Professional Liability, Workers Compensation and Business Owner policies There are so many intricacies with insurance; there are a few highlights and things to know about different insurance coverage’s for…

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Earthquake coverage in Michigan?

Earthquake coverage in Michigan? According to the Federal Emergency Management Agency; Michigan has a “very small probability of experiencing damaging earthquake effects”. In fact, most tremors felt in Michigan originate elsewhere. However, buildings can suffer effects from earthquakes in neighboring states that have a…

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FREE SEMINAR

FREE SEMINAR to all that register- 2017 Professional Liability Seminar for Design Professionals Registration is in full swing!  Click HERE to send yours in now.  Don’t procrastinate, it will only take you a couple minutes to do.  Then you’ll be…

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CLAIMS-MADE vs. OCCURRENCE

CLAIMS-MADE vs. OCCURRENCE Most liability policies are written on an “occurrence” policy form. Occurrence policies need only to be in effect on the date that an accident causing damage occurs in order to trigger coverage. A claim asserted against the…

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Drone Insurance

Have you thought about, or already began, using drones in your day to day business? If so, you are going to want to look into aviation liability insurance.   The most important stipulation for getting good drone insurance is that…

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Workplace injuries can hurt!

Workplace Injuries Workplace injuries can hurt small businesses. Workers Compensation Insurance is so very important, it will pay for those medical costs and lost wages associated with a workplace injury claim. According to a study completed by the Hartford there’s…

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Non-Owned Automobiles

Non-Owned Automobiles When Personal Vehicles Become Business Company-owned vehicles are not the only ones used for business purposes – in many companies, employees use their own vehicles as well. Employees who operate their own vehicles to carry out business create liability…

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Limitation of Liability

Limitation of Liability Limitation of Liability is a contractual provision that caps the amount of liability one party to the contract may have to the other party. Frequently used to equalize the imbalance between the potentially enormous risks assumed in performing…

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A/E ProNet

A/E ProNet is a group of brokers committed to the insurance needs of Design Professionals.  Professional Underwriter’s three offices are members of this prestigious group.  What does this mean for your Design Professional firm? -A/E ProNet has members across the…

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Cyber Liability Insurance

Cyber Liability: Will my insurance pay the ransom?  Does your business insurance provide coverage if your system is kidnapped and your digital information is held hostage? Will your business insurance provide coverage if a former employee decides to take revenge by…

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Insurance for your A/E firm

Types of Insurance to consider for your Architecture and/or Engineering firm: Professional Liability – protects against negligent acts, errors or omissions in the performance of professional services.  Also know as errors and omissions insurance. Business Owner Policy – combines both…

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