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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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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Schinnerer’s 60th

In 1957, architects and engineers of the era needed an insurance solution that could truly protect them; good thing Vic Schinnerer was in the right place at the right time. Schinnerer was the industry’s first-ever insurance policy created and underwritten for architects and engineers, and is the largest program for A/E Professional Liability in the USA. It is commended by ...

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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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Meeting of the Minds

ed-evangelista-visit-november-16

On November 14, 2016 we got a visit from our affiliated broker, Mr. Ed Evangelista. Ed has been an independent broker for 20 years, and has been affiliated with Maloney & Company, LLC working with architects and engineers for 10 years. His experience in insurance combined with the experience of Santina Ragonese and Mike Maloney (pictured here) makes ...

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Field Trip to Hartford, CT

March 2016

 

This week, our account managers took a day trip to Hartford, CT to visit with attorneys Donald Doeg and Ben Berger to discuss various construction projects in the Connecticut area as well as current trends in the Architect & Engineer industry. Thanks Don and Ben!

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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 ...

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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 ...

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