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…
Adopt-A-Family for Christmas! Professional Underwriters has partnered with Novi Goodfellows, Oak Pointe Church and Novi Youth Assistance to participate in their Adopt-a-Family program. We’ve been proudly donating new toys, clothes and household items to less fortunate families since 2009. Not only does…
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 in the policy year as described in your firms Professional…
Managing the Risks of a Vacant Home A home is “vacant,” as defined by the courts, if it does not contain enough furniture for a resident to reasonably live there. So, according to that definition, a home could be considered…
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 in the marketplace and needs to be re-rated every year…
Risk of Being a Construction Manager While the terms construction management and construction manager (CM) encompass a broad range of potential services and roles within the project delivery process, the ways in which a CM defines and carries out services…
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 specifies the damages that one party will be obligated to…
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 – this is the first few pages of the policy that…
Insurance, Active Shooters & Workplace Violence We know that no one really wants to read any more about active shooters especially how it may affect their insurance. However, Insurance and risk management issues become important considerations according to Patricia L. Harman,…
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 of the reasons why. Condo projects, as we know, are…