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 MoreTopic: Cyber risk
Professional liability: Sharing risks with humans, not technology
Professional liability underwriters and risk managers are often asked how risk and professional liability changes for design firms using advanced digital technologies (such as generative design, DfMA (Design for Manufacturing & Assembly), VR/AR, BIM, Digital Twins, etc.). The simplest answer is that humans manage all technologies and the liability question and associated risks stop right…
Read MoreCyber Risk Assessment
Answer ten important questions to find out whether your firm is at risk.
Read MoreAn Architect’s Guide to Buying Cyber Liability Coverage
Cyber Liability has become a hot topic due to high profile cyberattacks. Increasing awareness has fueled demand for cyber liability insurance and the number of insurance carriers writing coverage has increased. Since there is no standardized policy form, comparing the policy forms to identify key coverage differences is important for the architect to make an…
Read MoreGet Ahead of Cyber Risk Webinar
Learn how to avoid the professional and business liability implications of this increasing digital threat. It’s important for architecture firms of all sizes to take steps now to address the risks, minimize any possible data breach that occurs–and manage it if it does. Former Victor US Senior Vice President and Professional Liability Leader, Jill Tellez,…
Read MoreThe Threat is Real: Cyber Attacks Against Architectural Firms
Many architectural firms are tempted into believing they’re safe from cyberattacks because they don’t consider their data to be “sensitive” enough to attract criminals. Cybercriminals are sophisticated, deliberate and efficient in how they monetize their efforts. If you use the internet for any reason – even if just for basics such as email, submitting invoices…
Read MoreAn Architect’s Guide to Managing Cyber Threats
By Victor Insurance Managers LLC Summary It can happen to anyone. An event on a system or network detected by a security device or application: malicious activity that is attempting to collect, disrupt, deny, degrade or destroy information system resources or the information itself. As an architect, if you don’t think you need cyber protection…
Read MoreTake Cyber Liability Exposures Seriously
Professional service firms are facing an increased exposure to cyber liability. According to Victor, many firms do not take the necessary steps to secure their systems, guard their digital assets, protect confidential client information, and maintain productivity. Each firm should have digital protection protocols that help avoid or minimize data breaches. There should also be…
Read MoreProtect Your Firm from Ransomware Disaster
In this age of increasing cyber crime, professional service firms either have been victims of ransomware or likely will be eventually. Firms that have experienced the chaos and despair that a ransomware attack causes know that the effects are costly, debilitating, and damaging to a firm’s reputation. Through staff education, comprehensive data protection procedures, and…
Read MoreCyber Liability Is Real
Cyber liability insurance is a valuable risk management solution that addresses the emerging coverage gaps found in traditional professional liability policies. This is mainly due to the increasing reliance on technology and the use of data in design firms. From criminals tricking you into paying false invoices, to liability arising from lost data, to income…
Read MoreCyber Liability Is Real
