Every day, architects, engineers, contractors and other design professionals like you risk being sued for the work you do on a project if something goes wrong. Even if your work is perfect, there’s still a risk you could be drawn into a lawsuit without the right professional liability insurance protection.
Professional liability insurance for architects and engineers is coverage designed to protect against the risk of a loss caused by mistakes or negligence in the performance of your professional services. It’s designed to cover specific legal fees, judgements and settlements for claims and litigation brought against you for the services you provide.
Professional Liability Checklist for Architects and Engineers
As a design professional, it’s important to be able to stand behind your work knowing that if one day there is a problem, you’re protected. Your choice of professional liability insurance matters for you and your career. When it’s time to purchase professional liability coverage, choose protection with these 5 benefits:
1. Competitive Coverage
In this industry, it can be difficult to obtain the best coverage. Experience and reputation matter when you’re looking at your coverage options. Insurers need to understand your risk and your business.
With Professional Liability coverage from Lockton Affinity Architect and Engineer, you will receive tailored, competitive coverage from top-rated carriers. Through our partnership with General Star National, part of the Berkshire Hathaway family of companies, you will benefit from the expertise of top insurance professionals. Plus, they are rated A++ by A.M. Best, an independent insurance rating firm.
2. Best Prices
Price is an important consideration when you are choosing coverage as an architect or engineer. You want broad coverage that offers you the best price, without cutting corners. It’s important to work with experienced insurance underwriters who know the risks you face, so you’re covered without being over insured.
At Lockton Affinity, we offer the coverage you need at competitive pricing right from the start. We have more than 30 years of experience providing tailored insurance solutions for professionals like you. Plus, architect and engineer policyholders can receive claim-free credits and longevity credits that further reduce your premium.
3. Great Benefits
Professional liability insurance should be about more than deductibles, premiums and limits. You also need to consider what benefits will be available to you as a policyholder. In the design industry, some clients draft boilerplate contracts that can expose you to risk that exceeds your coverage.
With Professional Liability Insurance from Lockton Affinity, you have access to:
- Free professional contract reviews—Helping ensure your contracts contain appropriate language, contractual risks and indemnity obligations for your services.
- Disabled partner replacement coverage— If your partner is injured, you are covered for the expenses to hire a replacement so you can stay on schedule.
- Your say on settlements—This policy does not include “hammer clause” that may settle a claim without your consent, which allows you more flexibility to resolve a client complaint.
- Additional benefits—Add on coverage for pollution, employee dishonesty and stand-alone cyber coverage, plus additional coverage endorsements and policy solutions.
4. Risk Management Resources
Having the right risk management resources at your disposal can make all the difference for protecting yourself and your career. When architects and engineers have access to information, expertise and advice, it helps lower your overall level of risk and reduce the likelihood of a complaint or claim.
With Lockton Affinity Architect and Engineer, you will have extensive risk management resources at your fingertips. You’ll get access to complimentary pre-claim assistance and free contract review with quick turnaround from the Marshall Dennehy law firm, courtesy of our General Star National Insurance carrier.
5. Fast Customer Service
In the fast-paced design industry, customer service is more important than ever. When you choose professional liability coverage, it’s important you will have someone you can call or connect with online to answer your questions, purchase coverage and obtain certificates of insurance as proof of your coverage.
At Lockton Affinity, we are committed to best-in-class customer service, with a dedicated team to support you from initial application to annual renewal. We make it easy for you to quickly receive a quote, apply for coverage and get certificates of insurance. Receive an indication of what our coverage will look like for your business today.