Risk Management Tools for You & Your Firm

Architects confront risks daily—and the risks are real and substantial. From working with employees and maintaining an office to working with clients and contractors on job sites to regulatory requirements that frequently change—risks are ubiquitous. In its role as a free risk management resource for AIA members, the AIA Trust works with a host of important participants in the risk management arena. Often, the result of these working relationships is reports and resources on vital topics of interest to AIA Members—ranging from the annual survey of the professional liability insurance industry to white papers on vital topics of architectural practice.

The AIA Trust aims to help the AIA member architect understand various risks, how to avoid them, and how to deal with them when needed. Here are some of the resources available to AIA members:

• Educational seminars on risk management issues at AIA Convention and components; in addition, members may earn LU’s through the Trust web site.
• White Papers by subject matter experts on cutting edge topics pertaining to the changing risk issues of architectural practice—such as using new ‘green’ products, managing your electronic data, and how technology is affecting the perception and reality of the Standard of Care.
• Timely information vital to architects making wise business decisions—such as the impact of healthcare reform on employers, the survey of professional liability insurers, an insurance guide for those starting a firm—even a summary on Professional Employer Organizations (PEO) and how they may assist an architect in managing a small firm.
• Starter Firm webinar offering discounts and other incentives such as free insurance coverage and free reports available to new ‘starter’ firms via the on the AIA Trust website.
• Newsletter articles that summarize current risk management issues in brief, easy-to-read format—on the Trust website and in quarterly, electronic updates sent to firm owners & managers.
• Making the Transition to Running Your Own Firm, a guide to assist those starting new firms to identify and resolve risks by providing an overview of insurance coverage issues & solutions.
• 5% membership premium credit to eligible firms for professional liability insurance—as well as First Dollar Defense coverage to defend small firms without additional expense, and multi-year policies for firms with revenues under $250,000 annually.
• General and property liability protection for architectural offices through the CNA/Schinnerer Business Owners Insurance program which includes off-premises business property; coverage for computers, laptops and cell phones worldwide; and coverage to recreate lost drawings, plans, valuable papers, and records.
• LegaLine, a legal information service customizing legal information for architectural firms at a minimal annual cost (equivalent to a few hours of billable legal time) to enable the member to access an attorney-architect with critical information for managing day-to-day risks such as contract negotiation, dispute resolution, profitable joint ventures, incorporation, and employment matters.
• AIA Members Retirement Program, a turn-key program with low cost opportunities for the small firm or sole-proprietor to plan for retirement through AXA/Equitable. In addition, the Trust website offers retirement and financial planning guides.
• Individual and employee insurance options, listed on the AIA Trust home page, include health, dental, life, disability, and auto/home insurance to cover members, their employees and their families. The AIA Trust reviews each program regularly to ensure it offers competitive rates and a high level of coverage, service and reliability for AIA members.

The AIA Trust Overview provides a brief summary of all AIA Trust programs and resources offered to AIA members, firms, & components—via an online webinar of less than 10 minutes. Perfect for a “lunch and learn” at a firm or component, the Overview includes vital risk management tools and resources along with valuable Trust programs available to AIA Members. Visit the AIA Trust website for comprehensive resources to help you identify and manage risks—before the risks manage you. Visit The AIA Trust—or call 202-626-7376 for more information or with questions.