The Victor and CNA professional liability insurance program does not recommend specific language on “moonlighting.” That is because the situations vary so greatly. The key is for an architecture service firm to have a workable provision in an employee handbook. There are very few instances where an employer is held liable for the actions of…
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Do you know? Key Factors in Developing an Internal Risk Management Process
From choosing your client to closing a project, your firm can take measured steps towards managing its risk. While unpleasant, the terms “insurance” and “litigation” have taught us how to better protect design firms by minimizing claim potential, or at least to develop stronger defenses if claims cannot be avoided.
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Never Too Soon to Start
If you’re relatively new to practice, you may think that you can deal with retirement planning much later. But it takes years to accumulate the savings you’ll need for an ideal retirement. It’s well worth spending time now to strategize how you’ll get from here to there – even if retirement is many years in…
Read MoreIncorporating Climate Action into Your Practice for Triple Bottom Line Impact
Architects have an unprecedented opportunity to be part of creating a safer and more sustainable world for generations to come by designing to mitigate greenhouse gas emissions and adapt to changing conditions. AIA’s Climate Action Plan outlines a plan for how firms can address this challenge. Climate action is not only an imperative—it is an opportunity.…
Read MoreEmbodied Carbon Reduction in the Built Environment
Earlier this year, the US passed the Inflation Reduction Act of 2022, with $369 billion in funding intended to cut climate pollution in half by 2030 (from 2005 levels). The private sector is also embracing capital-allocation strategies that take environmental, social, and governance (ESG) issues into account with their business practices. Over the next few…
Read MorePlanning for the New Year? Here are 6 key things to help get your financial and life plans on track
In 2023, we will continue to face challenges like higher inflation, higher interest rates and potential recession. While there’s not much we can do to influence the global macroeconomic and geopolitical picture, there are plenty of ways to ensure our own finances are robust enough to deal with whatever the next 12 months throws at…
Read MoreSmall Firm Solutions: What to Do About Employee Benefits Post Pandemic
Employee benefits are often defined as compensation paid by an employer to an employee over and above regular salary and wages. Employee benefits come in many shapes and sizes and are an integral part of an overall compensation package offered to employees. Employee benefits are essential in keeping current employees happy and loyal and have…
Read MoreProfessional Liability Insurance: 2022 Trends
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. Following is a summary of highlights for 2022 in addition to complimentary useful resources made available to…
Read MoreIssues of Jobsite Safety: Do you know?
Jobsite safety is more than just an issue for the general contractor and OSHA can impose safety obligations on all “employers” whose employees are present on the jobsite. Read on to learn some things that you may not have considered from the expert legal professionals at Practice Coach:
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