Why did my architecture/engineering firm’s professional liability policy premium increase? There are several factors that go into rating a professional liability policy premium, here some examples of why your firm’s premium may have increased. An increase in billings can have…
Mediation Deductible Credit on Professional Liability for Architects/Engineers Most insurance companies will offer a deductible credit when your firm successfully has mediation in the event of a claim. Check your firm’s policy to verify that this credit is available, below…
Frequently Asked Questions About Michigan Auto Reform Michigan Catastrophic Claims Association refund Recently, the Michigan Catastrophic Claims Association (MCCA) Board voted unanimously to return approximately $3.0 billion of its estimated surplus to its member insurance companies, to be distributed to policyholders…
How is it determined if my architecture/engineering firm has a claim on Professional Liability? A claim is determined by the definition of a ‘claim’ in your firm’s policy. Generally, it will be a demand for money or services. Here is…
Does Having Work-From-Home Employees Change Your Business Insurance Needs? Small business owners are responsible for providing employees with safe work environments. All home-based workers have the same workers’ compensation benefits as in-office employees. Accidents happen during work, and they can just…
Premium credits your architecture/engineering firm can receive on insurance policies- Each type of insurance can provide different premium credits, depending on your firm and your firm’s practices. Professional Liability offers premium credits for several items in the application. For example,…
Certificates of Insurance for Architects/Engineers There are many requests for certificates of insurance from your firms clients. Here are some notes as to what can and can’t be included in the certificate of insurance. Professional Liability, the most common insurance…
Professional Liability Claims for Design Professionals The first indication that a professional liability claim might be made against your firm often comes long before an official demand for money or services alleging your negligence. Warning signs often include a client’s dissatisfaction with services provided,…
Keys to completing a Professional Liability application for architects/engineers There are many details when it comes to completing the professional liability application and it can be helpful to know what the insurance companies are requiring. One of the important details…
Choosing a Deductible on Insurance Policies for Architects/Engineers Each insurance company and each type of policy will have different deductible options. It is good to weigh your firm’s options, if possible, on the deductibles available. For workers compensation policies there…