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…
Read MoreTopic: Cyber risk
AI in Architecture: Historical insights & questions answered
In 2005, my grandmother passed away at the age of 99. Looking at how artificial intelligence (AI) impacts society, I cannot help but reflect on the significant changes I have seen in a lifetime compared to what my grandmother must have lived through.
Read MoreNavigating the Risks and Exposures of Artificial Intelligence: Essential Insurance Coverage for AI-Related Claims
Artificial intelligence is transforming industries and streamlining processes at a dizzying pace. There’s a lot we don’t understand about AI, including the risks and exposures inherent in incorporating AI into our businesses and lives.
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 MoreProfessional 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 MoreAn Architect’s Guide to Managing Cyber Threats
