Professional Liability Limits of Liability for Architects/Engineers Our agency is often asked what is a good limit of liability for our Professional Liability policy. This can be a challenging to answer because it is hard to predict what types and…
Mid-term Increase of Architect’s/Engineer’s Professional Liability Limits Many Architects and Engineers have been carrying Professional Liability Limits of $1,000,000 each claim with a $2,000,000 annual aggregate for a number of years; but we are seeing…
Common Myths of Professional Liability Policies for Architects/Engineers A Professional Liability policy or errors and omissions policies have some nuances to be aware of. Here are some common issues with the policy and the answers to those issues: Even if…
CERTIFICATES OF INSURANCE: WHY YOU CAN’T ALWAYS HAVE IT YOUR WAY Design professionals are often asked by their clients to sign contracts that include comprehensive—sometimes unreasonable—insurance requirements and indemnification terms. These are usually drafted with the goal of protecting owners,…
Umbrella policy for architects/engineers explained- An umbrella policy provides an extra layer of limits of liability over policies such as general liability, automobile liability and employer’s liability. It is not uncommon for an architect/engineering firm to have an umbrella policy….
ae ProNet’s New Executive Director Lynda Colucci Per ae ProNet president Mark Jackson: Lynda will be assuming the position effective December 1 after her retirement from current employment. On behalf of the board and members of the Association, I…
Business Owner Policy for Architects/Engineers The business owner policy will be similar to other types of business owner policy in different industries with a few exceptions of coverage. The business owner has a few major portions of the policy. The…
What is a Surety Bond? Surety bonds are designed to guarantee performance in the face of a set of particular risks. Each surety bond must be uniquely tailored to meet specific needs. A surety bond is an agreement under which…
Certificates of Insurance for Architects/Engineers Many times the requests for certificates of insurance are not geared towards architects/engineers, they tend to look like a request for a contractor. Keep in mind that some of the requests for design firms are…
The Communicable Disease Exclusion You may have noticed a new exclusion form on your recent insurance policy renewal. Several insurance carriers are implementing or strongly considering applying communicable disease exclusions on general liability policies in response to the pandemic crisis….