Drones and the City

Drones seem to be everywhere in our lives, and they are beginning to make their way into the professional setting for architects and engineers as well.  That is, it’s emerging in some cities while others are a bit slower to change for several reasons.  New York City is one of those cities slow to embrace this change as reported by the Wall Street Journal.  The path to legalizing drone use within the city has been 18 ...

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A Closer Look at Professional Liability / Errors and Omissions

 

The insurance that protects your company in the event that a client alleges you made a mistake that caused them a loss is extremely important. For dentists and doctors, this is called malpractice insurance. For design professionals, this is called Professional Liability, Errors and Omissions, or E&O coverage. Whatever you wish to call it, it covers the errors (or omissions) that your company has made, or the errors that your client perceives your company has made.
As ...

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A Day on the Water with RLI Insurance

 

We had a wonderful time this week with our team from RLI Insurance! Vince Costello, the Design Professionals program manager; Barb Sable, the Assistant Vice President of the Professional Services Group; Jeff Varallo, our Professional Liability Underwriter; and Kelly Looft, our Property & Casualty underwriter, all made the trek from PA and DC to spend a day on the water with us in the historic Thimble Islands located in Branford, CT.

RLI began writing professional liability for architects ...

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Client in the Spotlight

 

Last month, the New York Times published a story about a Maloney & Company, LLC client, Bonetti/Kozerski Architecture. This talented duo was looking for a new spot in Pennsylvania to not only build a weekend house for their families, but to also have a work of art to show off to their clients. Their idea of building their showpiece from scratch went out the window when Bonetti came across a 50-acre compound with a 8,000-square-foot house built ...

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World Landscape Architecture Month

April is the month long celebration of landscape architecture and designed public/private spaces!

 

World Landscape Architecture Month was established by the American Society of Landscape Architecture and aims to demonstrate how landscape architecture effects our daily lives. Springtime is the perfect time of year to celebrate landscape architects, because now is the time that most see their profession pick up its never ending dynamics. Landscape architecture services in America ...

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Consequential Damage Claims

 

consequential-damages

 

Consequential damages arise out of special circumstances that are usually unpredictable, and are typically more expensive than direct damages. Most professional liability programs cover such damages as long as they result from negligence in providing professional services.

In order to reduce liability, you may try to negotiate a waiver of consequential damages with your client. Victor O. Schinnerer suggests ...

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Travelers CyberRisk for Professional Firms

 

According to Travelers Business Risk Index 2015, cyber risks are the number one concern overall for professional firms.  Just one virus or resourceful hacker can cause huge financial and reputational consequences for a design firm, and that’s why it is important to be prepared with the right coverage.

Here is a claim scenario: A design firm stored its customers’ information in a third-party cloud computing environment which suffered a major data breach, compromising the information of thousands of ...

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Happy Birthday, Frank Lloyd Wright!

 

Frank Wright

 

“The greatest American architect of all time” was born this day, June 8th, in 1867. Wright completed over 500 architectural works, which helped start the modernists movement in the early 20th century.

He referred to his architecture as ‘organic,’ in complete harmony with itself and its surroundings, as if it had developed as naturally as at tree but without necessarily ...

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Fiduciary Liability Insurance

Fiduciary

 

Fiduciary Liability Insurance is targeted at protecting businesses’ and employers’ assets against fiduciary-related claims of mismanagement of employee benefit plans.

Fiduciaries are responsible for providing a broad range of investment alternatives and minimizing the expenses associated with those investments; you cannot avoid liability solely by blaming plan participants for their investment decisions. A fiduciary can be sued for not ...

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Aon Affinity Partners with Axis Insurance

Axis Insurance is now the national program underwriter for A&E Advantage, Aon Affinity’s professional liability insurance program for architecture and engineering firms. Aon Affinity expanded their partnership with Axis in 2015, and has refiled their rates in states like CT and OH, making them much more competitive. The A&E Advantage program offers professional liability insurance (errors and omissions insurance) and risk management resources to architects, engineers, land surveyors, and design firms.

Peter Wilson, CEO of Axis Insurance states, ...

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