Architects / Engineers P&L Insurance
Architects/engineers professional liability insurance protects professionals from a wide variety of claims from allegations of faulty design, to regulatory issues, true errors or omissions.
Why Architects/Engineers P&L is Important
If and when a professional or business:
- makes errors in dealing with paperwork, formulas or payment provisions;
- makes errors due to not informing personnel about design changes;
- fails to meet deadlines;
- fails to reconcile documents when deals change; or
- does not disclose all facts, costs and terms.
Common Real Estate P&L Coverage Topics:
1: Provide training to qualified staff.
2: Establish written account-handling procedures.
3: Make sure coverage satisfies contract requirements.
4: Provide education about the effects of social inflation and court judgements on pricing.