‘Limit of Liability’ Explained
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…
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Does professional liability policy assist my firm with a sub…
Does the professional liability policy assist my architecture/engineering form with a subpoena? It depends on your firm’s insurance company on how they will respond to a subpoena request. The professional…
Read MoreReporting a Claim Checklist
Reporting a Claim or Circumstance Checklist To maintain coverage for claims, they must be reported within the timeframe specified in your insurance policy. 1. Report a claim or circumstance by…
Read MoreReviewing professional liability quotes for architects/engin…
Reviewing professional liability quotes for architects/engineers- There are several items to be aware of when reviewing renewal quotes for professional liability. The first consideration is the retroactive date on the…
Read MoreThe Perfect Storm: Managing & Surviving Concurrent Thre…
Threats to Budgets & Schedules Supply chain. Labor shortages and interruptions. Inflation. All of this and more is challenging the traditional construction industry drivers of schedules and budgets in ways…
Read MoreDefinition of a Claim
Definition of a claim in a professional liability policy for architects/engineers- It is important to understand how a claim is defined as in a professional liability policy to know when…
Read MoreEstablishing a Records Retention Policy
RECORDS RETENTION POLICY Having accurate, detailed, and well-maintained project records can help keep design firms out of liability trouble while also helping them manage their profitability. Your firm should determine what it considers…
Read MoreTolling Agreements – a/e ProNet August Newsletter
Tolling Agreements Here’s a small except taken from the current a/e ProNet August Newsletter. To read the full Newsletter, please click HERE. Tolling agreements: For whom does that claim toll;…
Read MoreWaiver of subrogation within insurance policies for architec…
Waiver of subrogation within insurance policies for architects/engineers- First, it is important to understand the waiver of subrogation definition. Waiver of subrogation is a legal endorsement that prevents an insurer…
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Professional Liability Claim Resolving the Dispute Most disputes involving professional service firms are resolved through negotiated settlement or mediation. At times, usually because of contractual obligations, mandatory and binding arbitration between a…
Read MoreCommon exclusions in a Professional Liability Policy
Common exclusions in a professional liability policy for architects/engineers- The professional liability policy covers errors and omissions for your design professional firm. However, as with any insurance policy, there are…
Read MoreAdding a New Driver To Your Personal Auto Policy
Adding a New Driver To Your Personal Auto Policy Safe driving habits are always in season — especially when there’s a new driver on the road. When it’s time to add a…
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