A key component of any firm’s risk management program is a professional liability (PL) or errors and omissions (E&O) insurance policy that handles claims in exchange for a premium paid to the insurance company. This session will discuss the cost of insurance, limits, claim classification but more importantly how to properly handle or dispute, claim or circumstance.
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Incomplete, improper, and inadequate communication and documentation efforts continue to be the driver of 1/3 of claims against design firms. This session addresses documentation efforts regarding change orders, value engineering, specifying material and contract language.
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All construction projects have risk. This session identifies the 10 reasons why projects fail that includes, project expectations, official approval, staffing, handling of conflicts, team approach, managing project scope and others.
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Professional Liability (PL) insurance for A/E’s is a very specialized and expensive insurance product and a key component of any firm’s risk management program. This session identifies risks and liability trends, and underwriting criteria used by insurance carriers in determining the premium. However most importantly information that should be included to help obtain better terms and lower premiums.
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When’s there’s trouble parties refer to the contract to see who’s liable. Firms take on more risk including uninsurable terms accepting unfavorable contract terms. Having the right contract can avoid and exit you from litigation. This training addresses five key contract provisions, examples of unfavorable language and recommended terms.
In any negotiation the goal is to obtain a win-win. This requires give and take on both sides. At times you run into someone on the other side of the table who wants only to obtain terms in their favor. This session provides tips when dealing with difficult contract negotiations.
Contracts is an important component of a firm’s risk management program. Firms take on more risk accepting unfavorable contract terms. This training addresses the main purpose of a contract, where firms get into trouble, and tips for preparing and negotiating a fair contract agreement.
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Based on risk assessments of 200 design firms, this session identifies claim trends and the major causes of litigation. Risk assessment evaluates the root causes of problems that lead to litigation. The session also provides recommendations for mitigating future risk and liability exposures.
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A/E firms continue to have difficulty finding and hiring qualified staff that has caused problems and increasing risk. Based on risk assessments the highest risk category and driver of claims is staffing. This session describes the risk assessment process, higher risk disciplines, project types, and the operational and business practices leading to claims.
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With 70% of claims filed against design firms coming from the Owner, the person who hired you, every firm should have a Go No/Go process for selecting clients and projects that aligns with business objectives. This program identifies methods for selecting good clients, and projects that in return reduces the chance of litigation and improves performance and profitability.
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