Review of Insurance Policies for Architects/Engineers
The last quarter of 2023 is approaching, and it is always good to have a review of your firm’s insurance policies. There are a few things to consider when reviewing…
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Replacing a Design Firm on a Project
Replacing a Design Firm on a Project When a design firm is asked to replace the original firm on a project, there are ethical, regulatory, and professional liability concerns that…
Read MoreWhat is surplus lines insurance?
What is surplus lines insurance on professional liability policy for an architect/engineer? Surplus lines insurance companies will insure a firm that is considered higher risk and a policy that admitted…
Read MoreWhat is included in a business owner policy?
What is included in a business owner policy for architects/engineer firm? The business owner policy has a few major sections of the policy to be aware of. General liability is…
Read MoreWays to Improve My Renewal Premium
Ways to improve my architecture/engineering firm’s professional liability renewal premium- The renewal premium is based on the fully completed professional liability renewal application, but there are some ways to help…
Read MoreWhat does a ‘hammer clause’ mean?
What does a ‘hammer clause’ mean for an architect/engineer in a professional liability policy? A hammer clause is a clause that allows an insurer to settle a claim without the…
Read MoreTHE IMPORTANCE OF CONTRACTUAL TERMINATION PROVISIONS
THE IMPORTANCE OF CONTRACTUAL TERMINATION PROVISIONS The primary purpose of a contract is to expressly detail the rights and obligations of the parties. As such, a well-crafted contract will provide…
Read MoreWhat is an insuring agreement?
What is an insuring agreement in an architects/engineers professional liability policy? An insuring agreement is a legal contract between an insurance company and your architecture/engineering firm. It is the insurance…
Read MoreThe Basics of Workers’ Compensation Insurance
Workers’ compensation insurance gives employees medical, wage and other financial benefits if they are injured or become ill during the course of their work/job. This coverage is required in most…
Read MoreClaims Made Policy
Claims Made Policy How does claims made work on a professional liability policy for architects/engineers? Claims made is the most common type of policy for professional liability. Claims made means…
Read MoreCommon exclusions in a professional liability policy
Common exclusions in a professional liability policy for architects/engineers- Here are some of the more common exclusions amongst different insurance companies regarding a professional liability policy. Insured vs insured. Basically,…
Read MoreCommunication for Design Professionals
Communication for Design Professionals SEALED AND DELIVERED A RISK MANAGEMENT PUBLICATION FOR DESIGN PROFESSIONALS Communication is how information is exchanged. It occurs in various forms–face to…
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