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 page of a policy. Named insured is different from an additional insured in that an additional insured cannot make changes to the policy.
The Professional Liability policy will list a named insured if you have an additional entity that your firm wants listed or past firm names listed on the policy. Depending on the insurance company it may not be necessary to list past firm names on the policy as they may already cover past firm names without having to list them. But if your firm has multiple locations with different firm names you will want them listed on the policy as a named insured. Keep in mind that the Professional Liability policy does not allow for additional insured.
General Liability will be the same as the Professional Liability when listing a named insured. Again, if you have multiple entities you will want that additional entity listed as a named insured on the policy. The General Liability will allow for an additional insured so be sure you are clear when you are requesting an additional insured or named insured. Your firm will not want an additional insured to be able to make changes to the policy.
Workers Compensation will be similar to the Professional Liability policy in that you can list a named insured but not an additional insured. If you do have multiple entity names and locations this will need to be listed on the policy.
If you have questions with regards to the named insured on any policies that your firms have please call or email your Professional Underwriters agent.