In this age of increasing cyber crime, professional service firms either have been victims of ransomware or likely will be eventually. Firms that have experienced the chaos and despair that a ransomware attack causes know that the effects are costly, debilitating, and damaging to a firm’s reputation. Through staff education, comprehensive data protection procedures, and […]
Business Coverage / Professional Liability Articles
What comes to mind when you think of the AIA Trust? While many of you may view it as simply a source of insurance and retirement member benefit programs, this only represents a portion of what the AIA Trust actually offers to AIA members to help them practice strategically. In fact, the AIA Trust has […]
Materials transparency refers to an advocacy movement that promotes requiring manufacturers to fully disclose the material content and chemical makeup of products used in the construction of the built environment. The disclosure is in reference to a pre-determined list of substances that have been identified for potential harmful impacts to human health and the environment.
Is Your Firm Covered? A design professional encounters many risks that can result in financial losses to numerous people. Insurance transfers those risks to an insurance company in return for a premium payment. There are a number of important types of architecture firm insurance that an owner should understand to determine if coverage is warranted.
The AIA will soon require that you “opt in” to any emailed subscription you receive. While many readers of the AIA Trust quarterly newsletter, Managing Your Risks, have subscribed, some members receive it based on their status as a firm owner or manager. To ensure you continue to receive the quarterly risk management newsletter, sign […]
The AIA Trust new white paper, “BIM Me Up, Scotty: Navigating Risk in Digital Practice” focuses on how to successfully manage your digital practice risks. While there has not yet been a proliferation of claims, risk management can be preemptive. This paper looks at risk assessment and the risk sensitive areas of the BIM process. […]
Cyber liability insurance is a valuable risk management solution that addresses the emerging coverage gaps found in traditional professional liability policies. This is mainly due to the increasing reliance on technology and the use of data in design firms. From criminals tricking you into paying false invoices, to liability arising from lost data, to income […]
Any professional practice includes risk. How a firm handles that risk is critical to its profitability, and essential to its viability. According to Victor O. Schinnerer & Company, Inc., which manages the AIA Trust-sponsored CNA professional liability insurance program, four techniques are paramount to a firm to pursuing its preferred future.
The AIA Trust has just published two new white papers to their website, one exploring the risks associated with contractor terminations and the other about the risks associated with design/build teams.
Would you like to minimize costly and destructive problems for little more than a dollar a day? When you’re a subscriber to the AIA Trust LegaLine service, their experts can provide you with information to help negotiate and interpret contracts, manage risks and prevent lawsuits, improve client communication, resolve or mitigate disputes with clients, employees, […]