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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Are you Protecting your Firm?


It’s important to know all of the different policies that can help you protect your business, its intellectual property, as well as its physical assets. Below is a list of all the different coverages that Maloney & Company, LLC provides to architects, engineers, surveyors, and consultants:


 


 

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Do You Ever Hire Professional Subconsultants? Here are Some Tips:

 

If you retain subconsultants, you should make sure they have insurance, ideally at the same limits of liability that you maintain. It’s a good idea to also get into the habit of requesting proof of that coverage at least once a year. Here’s why:

  • If you were brought into a claim for professional negligence that is wholly or partly the fault of your sub, it would be good to know that your sub had professional liability at some ...
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A Fieldtrip to the Start of American Modern Architecture

 

This week, the Maloney & Company, LLC team visited an icon of modernism – the Glass House by Philip Johnson.

Perched on a 49-acre landscape in New Canaan, CT, the Glass House was a remarkable achievement when it was completed in 1949. The house, which ushered the International Style into residential American architecture, is iconic because of its innovative use of materials at the time and its seamless integration into the landscape. It began a movement of architectural experimentation ...

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Are you Fully Covered?

 

As a design professional, you should know about different coverages that exist. Below is a list of important policies that we’d like you to consider:

Cyber Liability: What if your system gets hit by Ransomware, a type of virus that encrypts your firms’ data and a ransom to be paid in Bitcoins is demanded by the hackers? This happened to atleast three of our clients in 2016, and a few more since then. Just about ...

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A Visit with Beazley Insurance

 

 

We are all smiles whenever Debbie Wiechardt from Beazley visits! Beazley Insurance is a Lloyds of London syndicate that began in 1986, and they have been writing insurance for architects & engineers ever since. Beazley USA was established in 2004, and in 2005 became the first Lloyds of London syndicate ever to open an American office. Maloney & ...

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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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2018 Contract Review Guide

One of Maloney & Company’s commitments to our architect and engineer clients is to give them advice and suggestions on managing the risk they take on when providing design services. Among many risk management tips and suggestions, our clients receive a 10 page Contract Review Guide, updated annually.

Within the Contract Review Guide, we address questions like:

Q: What if I don’t sign the contract my client gave me? Or if my client doesn’t sign the ...

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Starting a Design Office?

 

Architects and engineers planning to start their own firms will ask us about insurance for the new venture. Typically, small firms start with one or more of these three types of policies:

 

1) Professional Liability Policy

This type of policy pays for legal fees and damage awards connected to an A/E’s design work. This coverage is important because an architect or engineer is personally liable for his or her professional services. There is no way to organize or incorporate ...

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Cyber Awareness Month

 

Created by the U.S. Department of Homeland Security and the National Cyber Security Alliance, National Cyber Security Awareness Month was created to help increase awareness about cyber threats and security measures.

Do you bank electronically?

What happens if you log on one day and $100,000 is missing from your account? You contact your bank. What do THEY say? Likely some ...

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