The AIA Trust organized a panel discussion for the virtual 2021 AIA Conference on Architecture. A panel of architects familiar with the importance of firm transitions shared their expertise about how vital planning for leadership succession is for a successful architecture firm — and what it takes to make that happen on an ongoing basis.…
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Client Selection: Number One Professional Liability Risk
As the nation’s most experienced insurer of architecture firms, the Victor and CNA program has the largest base of claims to inform architecture firms of their greatest professional liability exposures and methods to keep those exposures from generating claims. For architectural firms, clients are the source of most claims, and they often influence third-party claims…
Read MoreAlternative Healthcare Options
As a firm owner, determining the type of health coverage you can provide your employees and their families can seem like a daunting task, especially when it comes to knowing all of your options. There are a number of different health plans available to business owners in addition to traditional health plans. This information about…
Read MoreEncouraging Employee 401(k) Savings
Offering a 401(k) retirement plan for your practice in which your employees can participate is a valuable benefit. Frequently, motivating your employees to appreciate and take advantage of this benefit can be a challenge. However, a retirement plan with engaged, informed and participating employees is a successful retirement plan.
Read MoreHealth Insurance for Employee Architects
2023 Update It is critically important that all architects have health insurance coverage for themselves and their families. Often younger people believe they are in good health and since health insurance can be expensive, they may opt to go without health insurance coverage. This could be a huge financial mistake. An accident or an unforeseen…
Read MoreFirm Management Strategies
The AIA Trust recently published a paper titled “Firm Management Strategies” based on interviews with various sized firms from around the country about how they have managed through various catastrophes and endured—often emerging stronger than before. The paper examines some of the similarities and differences between managing a firm during the Great Recession that began…
Read MoreComponent Insurance Primer
Because the AIA Trust offers numerous varieties of insurance to AIA members as well as components, we frequently receive questions from AIA components about chapter-specific insurance – such as event cancellation insurance and liability insurance. Since many components do not carry this kind of insurance, the market is not sufficient for the AIA Trust to…
Read MoreAdvice to Potential New Principals
So, you have been invited to become a principal in your firm? Congratulations! Now, what can you expect? Are there lessons learned from other design firms that have successfully gone through internal ownership transition? Yes, there are. Cameron MacAllister consulting firm completed a benchmark study a few months ago on how architecture firms are handling…
Read MoreBOP’in Along in the New Economy
Those in the architecture community often equate risk with professional liability. Because of state licensing laws and the general legal treatment of professionals, liability in the performance of professional services is a significant risk. When failure to meet the standard of care for professional services harms a project stakeholder or results in injury to the…
Read MoreTraveling with Your Pets
Summer is here and nothing helps to shake off winter’s icy chill like a relaxing weekend away with your favorite furry friend! Taking your pet on a trip can be an unforgettable experience. Road Travel Before hitting the road, have your dog burn off some energy with a brisk walk around the block or a…
Read MoreTraveling with Your Pets
