What to include when developing a risk management program at your architecture/engineering firm- First and foremost, no matter the size of your firm, it is good to have a risk management program. The first piece of the risk management to…
Client Wants to be a Certificate Holder for your Policies? What does that mean? A certificate holder is provided evidence of insurance, similar to an auto ID card. The certificate of insurance provides the name of the insured, insurance agent’s…
Insured Status Under the Contractor’s Commercial General Liability Policy The issue of requiring protection for design firms by having them named as additional insured’s on the general liability policies of contractors is complicated. Without the professional advice of an insurance…
How to Reduce Your Professional Liability Premium Professional Liability premiums are higher premium, compared to general liability, for architects/engineers because it is an areas of higher risk. There are ways you can help out in your premium. Risk management is…
Duty to Defend and Indemnification According to the American Bar Association (HERE), defense and indemnity clauses are routine devices used in construction contracts to shift responsibility for potential risks from one project participant to another. The terms defend and indemnify often appear in…
Policy changes that can be made to a Professional Liability policy for architects/engineers- There are some areas of the policy that can be changed, while other areas of the policy are considered standard policy language. Here are some of the…
Architects Insurance Why Architect Firms Need Business Insurance As an architect, you conceive and design buildings according to your clients’ visions. You also work with contractors to construct projects. Working with many different people in various roles can leave you…
Deductible types in a Professional Liability policy for architects/engineers- There are several deductible types on a Professional Liability policy in the market place. The most common deductible types are a straight deductible or a first dollar defense deductible, the deductible…
Definition of Professional Services in a professional liability policy- The definition of professional services in your professional liability policy is very important. If your firm provides services outside of the professional services defined in your policy it may not be…
Loss Runs What are loss runs on Professional Liability for architects/engineers? The loss runs are a claims history report on your firm’s Professional Liability policy. It provides details of claims or pre-claims that have been reported to an insurance company….