Whether your firm is closing its doors, acquiring or merging with another firm, or wondering what happens to your professional liability policy during these types of changes, this guide will help you understand Extended Reporting Periods (ERPs) and how they work.
2023 Trends in Professional Liability Insurance
The AIA Trust together with the American Council of Engineering Companies (ACEC) and the National Society for Professional Engineers (NSPE) work annually to conduct an insurance carrier review and interview of professional liability trends and risk management issues. The following are some highlights for 2023 as well as complimentary useful resources made available to you by the AIA Trust.
Avoiding fee disputes
Architecture firms should take the time to establish meaningful fee collection practices so that they can remain financially solvent. Avoiding fee disputes with clients helps maintain positive working relationships while safeguarding the ability to provide services on future projects, including those of existing clients. Timely collection of fees is essential since architecture firms do not…
