Lunch with Kevin Godbout

As frequently as possible, Maloney & Company, LLC meets with other professionals in the area to compare, contrast, and ultimately learn about recent industry trends in the A&E industry. This week we had lunch with Kevin Godbout, an attorney out of New Haven, CT who represents professionals including architects, engineers, and land surveyors. We talked about arbitration, mediation, and litigation as well as written contracts, which are useful topics that help us provide top-notch risk management advice to our clients. Thank you Kevin!

 

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A Closer Look at Professional Liability / E&O

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 an architect or ...

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Big Plans for our Cities

New York City has just announced major infrastructure projects to improve New Yorkers’ quality of life. Beginning in Summer 2016, the city will start replacing pay phones with 7,500 tech kiosks, creating the world’s most expansive and efficient public WiFi network, offering NYC users broadband speeds of up to 1,000 megabits per second. The city’s Metropolitan Transportation Authority (MTA) announced that all 277 underground subway stations will have WiFi service by the end of 2016, and by the end of ...

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Crime Insurance on a Rise

At Maloney & Company, LLC, we’ve been talking more and more about different coverages that are becoming very important. Employers Practices Liability Insurance (EPLI), Directors and Officers Liability (D&O), Crime, and Cyber Liability are included in this mix. Let’s talk a little bit about Crime Insurance:

What it Does:

Commercial Crime Insurance covers money, securities, and other property against a variety of criminal acts that occur inside and outside the premises of your business due to external threats and/or even your own ...

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EPLI

BOS

 

Employment Practices Liability Insurance – is it Important?

Well, the likelihood of being sued by an employee is now three times greater than experiencing a fire loss. In just 2014, the Equal Employment Opportunity Commission received nearly 90,000 discrimination charges that year. 65% of these claims were groundless, but those employers still had to shovel out costs of investigating and defending against them. Along with claims from employees, many service-oriented businesses are ...

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Data Breaches at a Record High

2014 was a record year for data breaches, and the numbers will only rise. The number of U.S. data breaches that were tracked in 2014 hit an all-time high of 783, according to the Identity Theft Resource Center. Since 2005, there have been in excess of 5,000 data breach incidents, involving over 675 million records. Keep in mind, that this number only encompasses those reported, many breaches fly under the radar every day.

Eva Velasquez, the president and CEO of ITRC, ...

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Out-of-State Workers’ Comp Claims

Many employers assume that workers’ compensation policies cover out-of-state exposures, when in reality, each workers’ compensation policy must be written to reflect specifically all states where the employer has either work or employees.

A workers’ compensation policy will usually extend to cover employees who are hired in one state while temporarily working in another; the benefits would be from the state of hire. It becomes a sticky situation when the state in which the employee is injured provides higher ...

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Does Your Workers Comp Cover Telecommuting Employees?

telecommute

With internet and technology on the rise, it is becoming more common for employees to work from home. Workers Compensation insurance covers work at home, but what is the scope?

We can assume that courts will take a broad view of telecommuters and find coverage wherever possible due to the public policy nature of workers’ compensation. But what is considered the “workplace”? ...

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Maloney & Co. Continues to Grow!

Over the past few months, Maloney & Company, LLC has welcomed the addition of a new Account Manager and an Attorney, to help us further provide state-of-the-art risk management and insurance brokerage services to Design Professionals. Kara received her Juris Doctor Degree from Western New England College School of Law and has been licensed to practice law since 2011. She provides risk management services and valuable legal insight to our clients. Erik graduated from Marist College with a BS in Business Administration/Finance and ...

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Dattner Architects and The Spring Street Salt Shed

Our client, Dattner Architects, has successfully designed The Spring Street Salt Shed to resemble the crystalline form of salt. This $20 million salt shed will store 5,000 tons of salt for the roads of Lower Manhatten this winter. “In some ways, it’s the simplest building I’ve ever designed, and in some ways, it’s the most complicated,” said Richard Dattner, who founded Dattner Architects 51 years ago. Take a look at the New York Times article highlighting this project.

 

We are extremely proud ...

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