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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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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Travelers New Policy Form

 

 

Our fantastic Travelers professional liability underwriters, Hugo Eraso and Sherry Brathuhn, came to visit our Guilford, CT office this week! Travelers is working on a new policy form with numerous enhancements, and they are re-configuring their rates which should make them more competitive within our specific region along the East Coast. As the economy expands and construction becomes more demanding, ...

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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 ...
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Maloney & Company, LLC Goes to Philly

 

Rynne at RLI

RLI Design Professionals Program

Our Customer Service Representative, Rynne O’Connor, recently took the trip to Philadelphia to attend training sessions with RLI Insurance Company.  Rynne spent one-on-one time with underwriters and reviewed RLI’s risk appetite and underwriting guidelines for P&C lines (BOP, Auto, WC, and Umb), and how certain credits are applied to quotes/premiums in ...

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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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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 ...

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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 ...

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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 ...

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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 ...

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