In an environment where lawsuits abound, architects and engineers, professional liability have become an essential service for design-build firms. Here are some of the aspects of available coverage.
When your firm produces an agreement and a client signs it, your company is now legally bound to its terms and conditions. One of the benefits of contract review is minimizing your risk from the start. Something as simple as a missing comma could result in a hefty lawsuit.
Plenty of issues could cause a financial hit to your business. For example, field equipment can be expensive to replace if something disappears, is damaged or ends up stolen. Your insurance company can help you put a program into place to soften the blows of dispossession.
Should your practice be subject to a claim at some point, you’ll be able to draw support from your architects and engineers professional liability policy. Some of the benefits of the errors and omissions coverage include:
- Deflection of legal expenses to the insurance company
- Protection of your business’ reputation
- Shielding of assets in case of lawsuit
As you’ve been able to see, a comprehensive policy has the power to protect your business in many areas. When your company is backed by a robust insurer, you’ll be able to worry less about potential issues and instead focus on carrying out core services.