Professional Liability Insurance (Errors & Omissions)
Professional Liability insurance policies protect professional services firms against claims alleging negligent acts, errors or omissions in the performance of professional services. When comparing different policies, we will advise you on each company’s coverages and, more importantly, their limitations and exclusions.
In addition to your firm’s practice policy, we also offer Project Policies and Specific Project Excess limits.
Business Insurance (Property and Casualty)
We offer a full range of insurance products to protect your business. For design firms, unlike policies that a general agent may provide, we represent insurance companies that have created policies specifically for architects, engineers, surveyors, and other professionals.
- Commercial General Liability
- Business Auto
- Workers’ Compensation and Employers’ Liability
- Jones Act
- Umbrella and Excess Liability
- Commercial Property
- Crime / Employee Dishonesty
- Cyber Liability
Your firm may have projects outside of the U.S. that require employees to travel or work abroad. Your domestic based insurance policies have limitations for incidents that occur outside of the U.S., its territories, and Canada.
Firms conducting business internationally need to obtain additional insurance policies to protect their firm and their employees. Typical coverages include:
- Foreign General Liability/Property Policy
- Foreign Auto Liability
- Foreign Workers’ Compensation/Employer’s Liability
- Travel Accident
- Kidnap & Ransom
- International Medical
- Defense Base Act
Directors and Officers Liability Insurance (D&O)
D&O policies provide financial protection for the corporate directors and officers against claims, most often made by stockholders and employees, alleging financial loss arising from mismanagement. Directors and Officers have a duty of care to make informed decisions, perform in good faith, act in the best interest of the company, and not to act to further their own personal interests. We will help design a program and strategies to help protect the leadership of your firm.
Employment Practices Liability Insurance (EPLI)
EPLI protects firms for claims made by employees against their employers for allegations of wrongful termination, discrimination (e.g., race, sex, age, disability, etc.), harassment, right to privacy, emotional distress and other employment practices. Although state and federal laws can apply differently to different size firms, virtually any employer is susceptible to employment practices claims. Claims of discrimination or harassment can also be brought by prospective employees.
Fiduciary Liability protects the plans and individuals acting as trustees or fiduciaries from lawsuits alleging errors or omissions in the handling of investment funds. The Employee Retirement Income Security Act of 1974 (ERISA) created a burden on fiduciaries and trustees of employee benefit and retirement plans. This insurance coverage would pertain, for example, to an allegation that a person in a fiduciary role gave bad advice to the plan, or made managerial or administrative mistakes, or failed to make prudent investment choices, or failed to calculate the plan benefits correctly. More than ever, employees and beneficiaries of retirement plans hold fiduciaries responsible for the prudent administration of fiduciary funds. Fiduciary Liability should not be confused with an ERISA Bond.
For more detailed information about insurance coverages, please see our newsletter entitled Typical Insurance Coverage for a Design Firm.