Insurance

Is my design firm required to get the extended reporting period or ‘tail’ for Professional Liability? It is important to understand what an extended reporting period (ERP), also called a…

Named Insured on Policies for Architects/Engineers What is a named insured?  This is an owner or entity that can make changes to the policy and is listed on the declarations…

Understanding the Deductible on Professional Liability for Architects/Engineers It is important to understand what a deductible is on Professional Liability.  The deductible is your firm’s obligation to pay per claim…

Why is my design firm required to provide an application to obtain new or renewal quotes for Professional Liability? Professional Liability is a different type of policy from other policies…

    Benefits of a Limitation of Liability Clause A limitation of liability clause (sometimes referred to simply as a liability clause) is the section in a contracted agreement that…

The Parts of the Business Owner Policy for Architects/Engineers There are several sections of a Business Owner policy, all of which your firm should be familiar with. Declarations pages –…

Why are some project types higher risks than others for design professionals? There are project types that are considered a better risk than other types of projects, here are some…

Definition of a Claim and When to Report it to Your Design Firms Professional Liability Insurance Company Claims, generally speaking, are a demand for money or service.  A demand doesn’t…

What is Employee Benefits Liability? Why Do I Need It? Employee Benefits Liability Coverage provides errors and omissions coverage for the administration of employee benefits programs of an insured. This…