Communication for Design Professionals SEALED AND DELIVERED A RISK MANAGEMENT PUBLICATION FOR DESIGN PROFESSIONALS Communication is how information is exchanged. It occurs in various forms–face to face, phone calls, plans, data, correspondence and, increasingly, via electronic…
Waiver of subrogation in policies for architects/engineers- Your firm may see a clause in your contracts for waiver of subrogation. It may even be in the insurance requirements section of the contract. The question to ask is, does your firms…
Utilizing Tax Credits Per Stacy deru and Steve Adams at Engineered Tax Services: Most businesses hire a CPA to compile and file their tax returns based on quarterly and yearly deadlines. These often involve writing a hefty check to the…
Understanding deductibles on an architects/engineers professional liability policy- There are many deductibles options when looking at a professional liability policy. The deductible is the amount of money your firm will be required to pay before the insurance company will pay…
The Standard of Care is the legal yardstick by which our legal system measures the conduct of licensed professionals. If you are careful in rendering your professional services, you are meeting the standard of care. If you are being professionally…
Is contractual liability covered under my architecture/engineering firms’ policies? First, what is contractual liability? It involves the financial consequence emanating from liability, not the assumption of the indemnitee’s liability itself. This is a common request in contracts and on certificates…
Management Liability offers you the power to choose the right mix of executive and business liability coverages to protect the assets of private companies and nonprofit organizations the personal assets of directors, management, and employees from a myriad of potential…
Definition of an insured in an architects/engineer’s professional liability policy- The definition is important because you want to verify that employees and others are covered under the policy. Here are a few examples of the policy wording for definition of…
Let us make sure you’re covered! Contact us today! www.profunderwriters.com puimich@profunderwriters.com Professional Underwriters, Inc (248) 553-8300 (248) 553-8305 Fax 39475 W. 13 Mile Road, Suite 106 Novi, Michigan 48377 PUI Agency of Colorado, Inc (720) 465-9116 (248) 553-8305 Fax PO…
When is a good time to get an ERP or extended reporting period (tail policy) for my architecture/engineering firm’s professional liability policy? Every firm’s situation is different, and it is always best to discuss this with your insurance agent. But…