Explaining the different insurance policies for my architecture/engineering firm-

There are several insurance policies your firm may need for the business and for contract requirements.  Here is a brief synopsis of those policies and what they cover.  As always, read the full policy to understand what is included and excluded in the policy.

Professional liability, also known as errors and omissions – this policy covers your firm if there is an error or omission of your design work.   The policy will pay for defense of the claim and will pay a settlement amount on your behalf, if needed.

General liability – this policy covers your firm for bodily injuries and property damage not related to your specific design.  It is for negligence outside of your design work.

Automobile liability – this will typically be a part of the business owner policy and provides liability for hired and non-owned autos.  Meaning if you use your personal vehicle for work, then the liability covers the business in the event of a lawsuit due to an accident.  This will not cover your personal vehicle itself; you will need a personal auto policy for that coverage.

Workers’ compensation – the policy covers medical care to employees to are injured or become ill from their job.  This policy is required if your firm has employees, it is not a requirement for sole proprietors.

Umbrella policy – this policy will have additional limits over and above your general liability, automobile liability and workers compensation.  It provides an added layer of coverage.

Cyber liability – this policy covers your business liability for data breaches involving sensitive customer information.

Employment practices liability – covers your business against claims by workers that their legal rights, such as wrongful termination or discrimination, as employees of the company have been violated.

There are several other policies that your firm may require in practice or by contract, such as crime policies, business auto and directors and officers.

To determine what policies your firm may need please call, or email, your Professional Underwriters agent for assistance.