Extended reporting periods—do I need one?

Because professional liability insurance policies are written on a “claims-made and reported basis,” there is no coverage for claims once the policy has terminated or been cancelled—unless you have an extended reporting period (ERP). An ERP extends the policy to allow for the reporting of claims that are made against you during the term of... Continue Reading →

New policy enhances tools to reduce claims

The new professional liability insurance policy provided by Schinnerer to architects, engineers, construction managers, environmental professionals, landscape architects, surveyors, and other professional service firms is being introduced as the various state insurance regulatory offices approve it. While policyholders won’t be insured through the new policy until their first renewal after the state's authorization date, coverage... Continue Reading →

Schinnerer’s new rectification coverage facilitates design-build leadership

As the market for the creation of capital assets moves increasingly toward design-build, many design firms have found themselves in the difficult position of being a subcontractor to a design-builder who often is a construction contractor. Serving their client—the design-build entity—and not the ultimate project client can create communication and ethical problems for the design... Continue Reading →

Design firms need to be realistic about projects in Cuba

On December 17th President Obama announced a new approach to U.S.–Cuba diplomatic relations. Many design firms well aware of the need to upgrade the island’s infrastructure, hospitality, and housing are anxious to tap the market, either through lucrative aid contracts or by working with the many U.S. commercial entities that have been planning financial investments... Continue Reading →

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