Contract on Projects – The Importance Contracts should be the start of each and every project for your firm. This lays out the groundwork for what will take place during and after the project. Contracts, first and foremost, are important…
The dos and don’ts of a workers compensation policy for architects/engineers- While the workers compensation policies to not have a high frequency of claims for architects/engineers, there are still items to be aware of with the policy. Do provide correct…
Business Owner Policy – Dos and Don’ts for Architects/Engineers The business owner policy is not one that has many claims for architects/engineers but are an important part of business. Here are some suggestions on the dos and don’ts of a…
Dos and don’ts of professional liability for architects/engineers- There are many intricacies to a professional liability policy, here are some suggestions on the policy. Do complete the application as accurately as possible. It is important to provide the insurance companies…
Choosing Deductibles Choosing deductibles for architect/engineer insurance policies. Depending on the policy there may be different deductibles and deductible options available. Workers compensation policy insurance companies may offer a deductible, depending on the state your firm is domiciled. The deductibles…
Claims expenses in an architects/engineers professional liability policy- The expenses will include items such as investigation, attorney fees and expert witnesses, if needed. The following is a definition from a professional liability policy. “Claim Expenses” means: a. reasonable and necessary fees, costs and expenses…
Why did my architecture/engineering firm’s professional liability policy premium increase? There are several factors that go into rating a professional liability policy premium, here some examples of why your firm’s premium may have increased. An increase in billings can have…
Mediation Deductible Credit on Professional Liability for Architects/Engineers Most insurance companies will offer a deductible credit when your firm successfully has mediation in the event of a claim. Check your firm’s policy to verify that this credit is available, below…
How is it determined if my architecture/engineering firm has a claim on Professional Liability? A claim is determined by the definition of a ‘claim’ in your firm’s policy. Generally, it will be a demand for money or services. Here is…
Premium credits your architecture/engineering firm can receive on insurance policies- Each type of insurance can provide different premium credits, depending on your firm and your firm’s practices. Professional Liability offers premium credits for several items in the application. For example,…