At Victor, our professional liability underwriters and risk managers are often asked how risk and professional liability changes for design firms using advanced digital technologies (such as generative design, DfMA (Design for Manufacturing & Assembly), VR/AR, BIM, Digital Twins, etc.). The simplest answer is that humans manage all technologies and the liability question and associated... Continue Reading →
Does the CNA professional liability policy cover punitive damages?
In many states, insurance coverage is not possible for damages that are not the result of a wrongful act. Punitive damages are damages awarded in addition to actual damages because the defendant, as determined by a court or jury, acted with recklessness, malice, or deceit. Such damages are meant to penalize the egregious actions of... Continue Reading →
Innovative rectification coverage helps reduce exposure to claims
Although design errors or inadequacies are not the source of most professional liability insurance claims, they often lead to the erosion of client confidence in the design team and usually result in claims during the construction phase or soon thereafter. This happens because traditional professional liability insurance policies do not provide coverage until a demand... Continue Reading →
Expanding your work force to meet firm needs
Using independent contractors to perform discrete, well-defined tasks on your project is one way to tap into existing talent without adding employees to your payroll. Firms typically tap their existing networks; however, they are increasingly using online platforms that function as a marketplace for firms and freelancers to find each other and strike a mutually... Continue Reading →
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 →
Do transgender-accessible bathrooms create professional liability risks?
Although Americans seem to be surrendering their privacy on an increasing basis through cellphone and website usage, the issue of privacy and safety in restrooms appears to still be a concern. Some concerns design firms have expressed to us include: Is there a professional liability exposure created by the move toward assuring restroom access to... Continue Reading →
Providing services in emergency situations
During emergencies, design professionals are often willing to volunteer their services to assist in protecting public health and safety. Prudent design professionals realize that these efforts, whether volunteer or paid, create potential liability. While some states have volunteer protection acts that afford the immunity of the state to licensed designed professionals providing services during emergency... Continue Reading →
Schinnerer’s new policy facilitates practice expansion
In a February 11th webinar titled, “The New Professional Liability Policy: Changes to Help You Manage Your Professional Risk,” Kevin Collins described the new version of the CNA professional liability insurance policy for design professionals. The webinar can now be downloaded from risk management website. Two of the major enhancements to the policy mentioned by... Continue Reading →