On November 6th Mike Maloney was invited to tour a construction site in Rockville, MD by RLI Insurance Company. RLI handles the professional liability coverage for the architect on this 18 story new construction project, and the tour of the site by the construction company foreman was fascinating. The $100,000,000 project will be a mix of commercial and ...
Continue Reading →Just about any organization that uses technology to do business faces a cyber risk. In fact, three of our clients have recently 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. This type of coverage is designed to mitigate losses from a variety of cyber incidents, such as data breaches, infringement of copyright, and network damage. As technology becomes more ...
Continue Reading →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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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 ...
It’s been a sad week in architectural history because the 856-year-old Notre-Dame de Paris caught fire while undergoing restoration work, and the historic building is suffering from significant damages. If you’re wondering which company insures the cathedral, you may be surprised to find out that technically it isn’t covered.
According to Financial Times, most rebuilding costs are likely ...
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Professional Liability Insurance (Errors & Omissions Insurance) is a great start to protect your business against claims of negligence, but there are additional risks that require additional coverage. 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 ...
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The team had a wonderful time at the JDRF Brew for a Cure event this past weekend along with others in the design and construction industry! Sponsored by our clients Kenneth Boroson Architects and Consulting Engineering Services, we are happy to help support Type 1 Diabetes research for a cure!
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:
