A.M. Best Ratings on Insurance Companies for Architects and Engineers Insurance companies worldwide have an A.M. Best rating, what does this mean? A.M. Best is a rating agency that provides a rating on each insurance company based on financial strength…
Insurance – Good to know! For architects and engineers there is always something to learn about insurance. Whether it is benefits to the policy or ways to get additional discounts, there is always something to learn. Did you know most…
Understanding Depleting Limits of Liability in a Professional Liability Policy for Architects and Engineers Limits of liability in your firm’s policy will be defined in the declarations page of your firm’s policy and is determined at renewal time or when…
Record Retention for Architects and Engineers The first of the year is always a good time to consider what records to keep and what records to let go of. It is best to have a written policy in place at…
Can my firm increase limits of liability on my Professional Liability policy? The insurance company will need to look at all of the factors before determining if the limits of liability can be increased. Here are some options and the…
Deductibles in Professional Liability Policies for Architects and Engineers There are many deductible options and it will vary based on the insurance company and the size of your firm. Here are further details about deductibles and what may be available…
Supplementary payments included in architects/engineers Professional Liability policy. Most Professional Liability policies have supplementary payments that are not subject to a deductible and are in addition to the limits of liability. Here are some examples of the supplementary payments: All…
Do’s and Don’ts of Professional Liability Claims for Architects and Engineers There are several things to be aware of when reporting a claim or once your firm is going through the claims process. Here is a list of some of…
What does my firm’s insurance policy cover? There are many insurance policies in the marketplace and many that are specific to architects and engineers. Below is a brief description of what each policy covers. Professional Liability – This is the…
What is the definition of professional services in Professional Liability policies? This is going vary from carrier to carrier and even policy to policy; most importantly read your policy so your firm knows what the professional services covered are. Here…