Claim: How it effects my renewal premium?
Claim: How it effects my renewal premium? A claim can have an effect on your firm’s renewal premium, but it does depend on the claim and situation around the claim.…
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Defense and Settlement in a Professional Liability Policy
Defense and settlement in a professional liability policy for architects/engineers- Each insurance policy has a clause that describes what will be included for defense and settlement at the time of…
Read MoreContract Wish List For Design Professionals – Part 1
Contract Wish List For Design Professionals – Part 1 It is not news to any design professional insured that their contract for services is linked inseparably with their exposure to…
Read MoreUnderstanding Betterments & Improvements Coverage
Understanding Betterments & Improvements Coverage Betterment insurance is supplemental coverage for additions or modifications made by a lessee to a space they lease. You may not discover this coverage is not automatically included…
Read MoreChanging or Adding a Firm Name To My Policies
Changing or adding a firm name to my architecture/engineering firms policies- This will vary from policy to policy and with each insurance company. There are a few items to discuss…
Read More‘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…
Read MoreDoes 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…
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