Many Americans are financially prepared with life insurance, but do not have a plan in place in the event of disability. Disability can affect you financially whether married or single, a firm owner or an associate, a parent or not. While life insurance is very important, you should also be prepared for the possibility of […]
Business Coverage / Professional Liability Articles
Small firms and sole practitioners don’t have the luxury of in-house counsel or retained attorneys, yet small architecture firms confront many legal challenges such as negotiating and interpreting contracts and handling disputes with clients and contractors. LegaLine is the AIA Trust Legal Information Service, a specialized benefit for AIA members, ideal for small firms without […]
Disputes happen. Dissatisfied clients, construction firms with cost-recovery programs, injured third parties and other claimants often try to tap into the assets of professional service firms—and their insurers—to solve a real or perceived problem.
There are two kinds of clients who insist in a contract that a design professional absolutely comply with laws, regulations, codes, ordinances, standards and a plethora of other business and design constraints. First there is the client who, perhaps with strained incredulity, asks “Do you mean to tell me that you do not intend to […]
It is not uncommon for clients to request ownership of your plans and specifications. Corporate clients often assume they will somehow be of future value. Educational clients think they can create a database of project information that will help them reduce future costs. Agencies of government reason that the public, having paid for your services, […]
The AIA Trust released a new white paper on a topic of vital interest to AIA Members—the evolving standard of care. The standard of care is the prevailing benchmark of professional practice in architecture and design and the threshold of protection under professional liability insurance. The design professional’s standard of care is generally based on […]
In suits alleging negligence in the performance of professional services, well-drafted documents and well-kept, comprehensive records are the strongest defensive weapons available to professionals. The following practices and procedures can be vital to a firm’s continued profitability in the face of costly litigation.
Offering your employees good benefits, including salary, health care coverage, and retirement incentives are key to retaining your top employees and in return, contribute to your firm’s success. In a recent survey, The Study of Employee Benefit Trends, conducted by MetLife in 2010, 47 percent of employers said that keeping their current employees is their […]
As architects continue to face economic challenges in the architectural and broader economic community, merger and acquisition activity is again increasing in the design firm world. Unfortunately, concerned more about clients and culture, too many firms wait until the last minute to consult with their insurance advisor. This is a bad mistake that can cost […]
Safe driving and accident prevention may help to ensure your safety, yet you can still be the victim of someone else’s mistake. Accidents kill someone every 4 minutes in America according to the 2010 Injury Facts report by the National Safety Council. In fact, accidents are the leading cause of death for adult Americans under […]