Top 5 Risk Management Tips for Design Professionals

 

Risk management, simply put, is the identification of threats to your well-being and the decision of how to respond. Risk management takes on an additional level of importance for professionals like architects and engineers since they are personally liable for the professional services they provide. Below are five areas vital to design professionals who want to reduce or transfer risk:

 

1) Client Selection:

Monitor your interaction with clients and potential clients and be aware of danger signs. Walking away from a project ...

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“As Schools Open, Design Professionals Fear that Claims Will Too”

 

school-claims-by-state

 

Recent studies from Victor O. Schinnerer show that besides residential projects, schools and colleges generate the highest number of claims and the most expensive claims, particularly in New York, New Jersey, Pennsylvania, and Massachusetts. This is due to a number of factors.

  • School projects don’t usually involve an individual client, but rather an elected school board with diverse wants and expectations ...
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M&Co Expands South

2016 has been a year of growth for Maloney & Company. We have expanded our services to the southernmost state, Florida, and it seems that we have done so at the perfect time.

Jeff Atwater, Florida’s Chief Financial Officer, publishes an economic magazine each quarter called Florida’s Bottom Line. The magazine examines the impact of current topics, like decreasing unemployment rates and changes in the housing market. This quarter, Jeff focuses on Florida’s speedy growth and how they plan to ...

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Cyber Liability Insurance

 

Cyber Insurance

 

Just about any organization that uses technology to do business faces a cyber risk. In fact, three of our clients have been hit by Ransomware, a type of virus that encrypted the firms’ data, and a ransom to be paid in Bitcoins was demanded by the hackers. Architect and Engineer firms of all sizes are seeing an increase in ...

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Visit with A+ Rated Insurer, Travelers

 

Travelers July 2016

 

The Maloney & Company staff recently visited with underwriters Hugo Eraso and Sherry Brathuhn from Travelers! We discussed the needs of our clients, and how Travelers is always striving to meet them. Travelers is an A+ rated insurer with a great reputation, and we are happy to have a close relationship with them.

 

Photo: Reade Pizzonia, Santina Ragonese, ...

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National Insurance Awareness Day

June 28th is National Insurance Awareness Day!
 
This day was created to review your current insurance coverage, and to remind you that it’s important to talk with a risk management professional to be sure that you aren’t under or over insured. 
 
Some may think that insurance is only a couple hundred ...
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RLI Visits M&Co

 

RLI Visit June 2016

 

This week, RLI underwriters Christina Walsh and Trent Colan made their way to CT to visit our staff! Over lunch, we discussed the Professional Liability market, underwriting guidelines and principles, and industry standards. We are happy to work with Trent, Christina, and the rest of the staff at RLI, and are proud of our close relationship ...

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