Professional Liability claim process for Design Professional firms

claim processProfessional Liability claim process for Design Professional firms.  The first question that your firm may ask is ‘what is a claim?’  If you think it’s a claim it probably is.  Even if you don’t have a demand for money or services it still could be considered a claim.  However, if it isn’t a claim it could be considered a pre-claim and the carriers and attorney are there to assist in both situations.

The next question is what happens after your firm reports a claim?  The carrier provides a claim acknowledgement; this will include claim number and claims representative contact information.  Then your firm will be asked to gather information with regards to the project to begin investigation of the claim.  The claims representative will then determine the coverage for the claim and will discuss the policy terms and deductible, if applicable.  The final step of the claims process is the resolution, whether that is going to mediation, going to court or a settlement out of court.  Your claims representative and attorney will assist in the course of action.

A few additional questions that do arise when claims are reported are:

Do I need to hire and attorney?  Your Professional Liability insurance company will provide an attorney that specializes in claims for Design Professionals.  A local attorney that is familiar with the laws in that State.

When do I pay my deductible?  If your deductible applies to defense expenses you will be billed (frequently by the attorney your firm worked with).  You will only pay up to your deductible.  If your deductible applies to damages then you will receive an invoice from the carrier for the deductible.

Your PUI Agent is here to assist with the claims process.  Please call or email with any questions.

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