In exchange for payment of a claim under a policy of insurance, the policyholder surrenders to the Insurer the right to recover the monies paid to settle the claim from any parties that may have been responsible for the damages…
DOLLAR ONE DEFENSE Dollar One Defense is a unique deductible option for certain insureds. Dollar One Defense or “First Dollar Defense” simply means that if a claim is made against you, your insurance carrier will pay your defense costs beginning with…
Other Colorado cities have made some changes to construction defect, will Denver, CO make changes also? Click here to see the news story.
AIA Awards We are happy to announce that one of our insured’s has won an AIA Award for a project in Bow Mar, CO. Click here to see this beautiful home. Congratulations to Nest Architectural!
Generally, the biggest risk to the firm is not its professional liability exposure to the owner, the “team” or third-parties but its ability to manage its cash flow. IPD forces design firms to risk their profit and while the constructors…
Recent state-wide bond / override initiatives may not be a source of exhilaration for local Architects and Engineers, so a longer-term economic outlook may be required to generate more enthusiasm. In Tucson / Pima County, seven (7) propositions covering 100…
If a Professional Liability policy is cancelled or not renewed many carriers provide automatic Extended Reporting Periods (ERP or ‘tail’). Typically this automatic ERP period is 60 days and is free of charge. Most carriers will also offer an optional…
CLAIMS How to Report a Claim: Immediately call or email your agent to discuss the claim or circumstance. With your agent you will determine, based on your policy requirements, if it does fall under the definition of a claim or…
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