Insurance policies for Design Professionals

insurance policiesInsurance policies for Design Professionals; there are several insurance coverage’s that your firm may need for the operations of your day to day business activities.  Some are requirements by contract and others may be needed for your business needs.

Professional Liability – Also know as errors & omissions or E&O.  The policy protects your firm against losses resulting form negligence, error and omissions in the performance of professional services.

Property Coverage – This is protection for your building and business personal property.  Many carriers have a specific policy for architects and engineers that are tailored to the needs of the industry.

General Liability – This coverage is also referred to as the ‘trips and falls’ policy.  But it also protects your firm against liability of others you assume under contracts.  General Liability is different from Professional Liability in that it does not cover for design errors or omissions.

Automobile Liability – Protects your firm against claims for hired and non-owned auto liability.  This means that if your firm has employees that drive a personal vehicle for work, it provides protection for your firm.  If your firm owns vehicles there are also policies available on a commercial basis.

Umbrella/Excess Liability – Provides extra protection in cases that your standard property and liability policy limits are exceeded.

Workers Compensation – Protection for you and your employees for work related injuries or illness.  This is required by most States for the protection of employees.

Other insurance coverage’s your firm may want to consider.

Cyber Liability – Protects your firm in the event of a data breach or other cyber threat.

Employment Practices Liability – Provides coverage to employers against claims made by employees for discrimination, wrongful termination, harassment and other employee related issues.

All of these coverages are valuable protection for your Design firm.  Please call or email your PUI Agent to assist with the policies or to answer any questions.

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