Understanding Builders Risk Insurance Builders risk insurance is essential protection for construction projects, but it is complex and often misunderstood. This isn’t surprising. There are no standardized policy forms for builders risk and coverage varies from insurer to insurer and…
Some Contractors Want to Bring More Design Services In-House Engineering News-Record (ENR) reports that a growing percentage of contractors plan to increase the use of in house design to better meet the demands of project owners. The article cites The…
What is the definition of professional services in Professional Liability policies? This is going vary from carrier to carrier and even policy to policy; most importantly read your policy so your firm knows what the professional services covered are. Here…
Indemnity Clauses in Contracts According to Brian K. Stewart, Esq. : Indemnity legal wording for a way to shift the risk for a particular problem that might arise on a construction project. The variety that we are concerned with for purposes…
What insurance does my architecture/engineering firm need? There are some insurance policies that will be required by either contract or law and some that your firm needs to consider based on your business affairs. Professional Liability – this is probably…
On the brink of another insurance crisis for drinking water not containing lead? A September article from the Insurance Journal explains this next public health issues and discusses the General Liability insurance and Environmental Liability Insurance: ‘Drinking water: a commodity…
Submitting a Claim for Your Architect/Engineering Firm Depending on the policy there are different pieces of information to gather and submit for a claim. Professional Liability – You firm may have received a notice of a claim or a verbal…
While costly and dangerous, data breaches aren’t the biggest threat to businesses from hackers on the radar for this year. The first half of this year alone has seen an uptick in the frequency and severity of attacks that have…
Increased Premium on my A/E Firm’s Business Owner Policy Why has the premium on my architect/engineer firm’s business owner policy increased? There are many factors that are considered when the insurance companies are rating your policies, but here are some…
FAQ on Extended Reporting Period on Professional Liability. Many questions come up when it comes time to start thinking about an extended reporting period (ERP) or tail policy. Here are some of the questions and answers on the ERP. What…