Starting your own firm is a challenge. Structuring it to survive is a formidable task.
Operating a professional practice poses many risks to the design professional–-and insurance is just one of many ways to manage those risks. The AIA Trust develops helpful resources, tools, and benefit programs to guide you in assessing, avoiding, and managing your risks, as you start out and as you succeed. Find out how to get started and run your own successful firm.
Read the AIA Architect article: Tips for Launching a Successful New Practice.
FOR YOUR FIRM & EMPLOYEES:
- Business Owners Insurance including General/Commercial Liability and Property & Casualty; additional coverage may be added.
- Professional Liability Insurance
- Disability Insurance Employee Coverage—consider adding an important employee benefit
- Health Insurance Service to help individual members and firms find coverage
- Key Person Term Life Insurance
- Life Insurance/Term Life Insurance Employee Coverage
- Legal Information Service for your firm—a “practice coach” – when you don’t have in-house counsel
- Retirement Plans, including a variety of 401(k) and Profit-sharing plans, for you and your employees
- Short Term Disability Insurance Employee Coverage – for individual coverage, including maternity
FOR YOU & YOUR FAMILY:
- Accident (AD&D)—High Level Accident Insurance—Protect yourself & your family
- Automobile Insurance—For your peace of mind on the road—with added savings!
- Disability Insurance Personal Coverage—Important for every situation – be sure you are covered for the ‘what if’s’ of life.
- Life Insurance/Level Term Life Plans—Select a monthly premium that’s right for you & consider locking rate for 10 years.
- Travel Assistance–Special member pricing on global emergency services or trip cancellation wherever you travel.
Free Risk Management Resources
- Brokers—A Guide to Selecting Professional Liability Insurance & A Broker
- Creating & Maintaining A Professional Practice— A webinar & booklet about how to start and run a successful architectural practice—plus obtain two learning unit credits .
- Education Programs: An expanding array of topics to help you manage your firm effectively — including webinars, self-assessment tests (SATs).
- Financial Planning —Online tools and guides to learn about starting a business, managing finances,valuable retirement program considerations and employee benefit retirement plans.
- Firm & Employee Coverage – Find out what you need to know about various insurance coverage, including employee benefits.
- Healthcare Coverage—Answer your questions about how the Patient Protection and Affordable Care Act (ACA) affects you and your firm.
- How to Start & Run Your Own Firm – Review of key responsibilities needed to start a firm, including planning, funding, legal & business requirements, marketing, financial management, operations, and risk management issues.
- Insurance Checklist — Find out about the coverage you need to have when starting a firm.
- Library of Risk Management Resources – Find invaluable free resources by topic for your practice.
- Making the Transition to Running Your Own Firm booklet plus a handy checklist that you need to start a firm! You may obtain three learning unit credits by taking the corresponding a self-assessment test.
- Practice Forms – Ready-to-use forms and tools to help you & your firm to evaluate and manage potential risk.
- Professional Liability Insurance Decision-Making—Browse & compare 40+ insurers, find specific coverage, data, & contact info.
- Professional Liability Insurance Guides —Guides & Tips on comparing policies, completing an application, how to find a broker, and more.
- Relationships – Find out what you need to know to drive success to your firm.
- Risk Management Guides – summarizing evolving risks with concise “how to’s” to help you address risks successfully.
- Risk Management Strategies from Victor—Including Guidelines for Improving Practice, Management Advisories, contract review tips & continuing education programs for credit—plus Victor’s risk management blog—guidance from the design & construction industry.
- Small Firms —Click here for a list of helpful resources for small firms and those starting out.
- Structuring Success: How to Start and Run Your Own Firm – A’19 seminar presentation Click here for slides. Click here for a Self-Assessment Test (SAT) to receive 1.5 learning units.
- Sustainability Studies– Better understand the unique challenges and risks of sustainability.
- White Papers – Find out about critical risk topics that you need to know, such as: project documentation, fiduciary duty, electronic data, payment collection, working with BIM, terminating a contractor, and much more — all aimed at helping you manage your firm successfully. Or, read the shorter, synopsized versions by clicking here.