The thing with insurance is that you never really know when you are going to need it. There are many instances when people have themselves covered with numerous insurance policies, only for them to grow old or even die without ever using these packages. On the other hand, we also hear stories of people who do not have insurance coverage, yet it turns out that accidents happen to them. Sadly, they have to shoulder the expenses using personal money, and they are unlikely to be given grants by insurance companies from there on out. The same thing concept applies to professional liability insurance for architects. Unfortunately, some small firms take the risk and do not get the proper insurance coverage. While it is true that most of them escape unscathed because of competent practice and a peaceful partnership with their clients, it is also true that many firms go bankrupt and close down because they had to give up all their assets paying penalties for the civil cases they lost. No firm wants this worst case scenario to happen to them.
The goals of most architectural firms are usually the same. They want to save money during their operations, but in the process they must not sacrifice the quality of their work. Secondly, they want to operate without the worry that one day a civil case might be filed against them for negligence or other reasons. Simply put, they want to have as much peace of mind as possible. Lastly, and most importantly, they want to meet the demands and the requirements set by their customers. Having a specialized architects’ professional liability insurance policy greatly increases the likelihood that firms achieve these three goals that they have.
The next step for firms now is to get to talk to people who have expert knowledge in the professional liability insurance field (particularly regarding architecture and the built environment). Fenner & Esler carries a long history of specialized risk management services pertaining to architects and engineers. Contact us today and you will be one step closer to getting that much-needed protection.
We're more than just brokers. We're A/E specialists, delivering the right coverage and exceptional value and service to hundreds of design firms of all sizes. Of course we leverage the latest industry resources to provide you with coverage, risk management and contract review tailored to your practice. But we also remember the difference between simply billing clients and actually serving them. See for yourself. Contact us of a competitive quote on your professional liability insurance.