A successful risk management plan requires consideration of exposure, capability, responsibility, and power. Regardless of how a firm positions itself and selects its clients, a carefully crafted risk management program is the basic foundation for a firm’s ultimate survival and a major contributor to a firm’s success and profitability.
Read MoreTopic: Professional liability
Business Coverage Professional Liability
Insure Your Firm’s Future
The AIA Trust Professional Liability Database is a resource designed especially for AIA members, detailing everything you need to know about risk management and professional liability. A searchable directory of more than 40 professional liability insurers, the AIA Trust Professional Liability Database gives AIA member architects critical information about one of the most important purchasing…
Read MoreFinding a Broker
Selecting Professional Liability Insurance and a Broker The last thing you need to worry about is whether your professional liability insurance is adequate. Read important tips for finding the appropriate broker and insurer for your practice, by clicking here for the report. Broker Networks To find a broker in your area, click on any of…
Read MoreRectification Coverage Facilitates Design-Build Leadership for Architects
As the market for the creation of capital assets moves increasingly toward design-build, many architecture firms have found themselves in the difficult position of being a subcontractor to a design-builder who often is a construction contractor. Serving their client—the design-build entity—and not the ultimate project client can create communication and ethical problems for the architecture…
Read MoreRisk Management on International Projects
For every project that an architectural firm undertakes, the greatest probability of an unfavorable outcome is that the firm will not be properly compensated for the services performed and the value it added to the project for the client. On international projects, there is also the risk that the firm will not be able to…
Read MoreBodily Injury Claims: More Shock than Severity
When a claim is brought against an architectural firm alleging that an injury or death was caused by the firm’s negligence, the firm suffers its own kind of trauma. Bodily injury cases invariably cause internal strife and force the firm to question its services. Often, a firm feels singled out for punishment, abused by the…
Read MoreRecovering Litigation Costs by the Prevailing Party
Clients of architecture firms are increasingly mandating “prevailing party” contractual provisions that allow the successful party in a dispute between the client and the firm to recover legal costs as well as any damages. Often, architecture firms find such provisions acceptable because they assume that if they have to sue a client for a fee,…
Read MoreTips & Guidelines for Working with Attorneys
Providing fact testimony When a lawsuit is filed against an architecture firm for services it provided, members of the firm may be subpoenaed to testify on relevant facts in a deposition and possibly in a trial. View suggested tips and guidelines when providing fact testimony Claims defense from the attorney’s perspective When a claim is…
Read MoreSureties Pursue Design Firms for Recovery of Losses
When a surety has to take over a project from a defaulting contractor, the surety completes the work under the bonded contract and is entitled to the remainder of the contract cost. Often, the cost of completion exceeds the available payments and the surety looks to sources of cost recovery. In virtually every state, courts…
Read MoreEducational Opportunities
In cooperation with AIA/CES, the AIA Trust provides opportunities for AIA Members to earn learning units in the areas of firm management, risk management, and financial management based on the programs and educational resources that the AIA Trust offers. Self assessment tests The AIA Trust offers numerous self-assessment tests based on AIA Trust resources including…
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