For over 50 years Dealey, Renton & Associates (DRA) has helped our firms with their risk management and insurance needs. As part of our ongoing efforts, DRA publishes a monthly newsletter for clients and industry partners on general and professional risk management issues facing design firms.
The following is a summary of our June 2018 newsletter
Keeping the Standard of Care in Check
Standard of Care clauses are one of the most important contract provisions. A well-written clause can act as a ceiling with respects to a design professional's obligations under professional services contracts. XL Catlin provides some quick tips and suggestions for favorable contract language.
The Most Significant Exclusion: Contractual Liability
Many design professionals overestimate the available insurance coverage for commitments made under professional services contracts. The contractual liability exclusion limits the scope of coverage to liabilities existing absent the contract. Attorney Mark Jacobsen explains this complex issue and provides guidance.
Developing Motor Vehicle Record (MVR) Guidelines
Commercial automobile exposures represent some of the most significant corporate risks for design professional firms. Development of rigorous policies around MVR's for new employees and expectations for tenured staff are critical regardless of firm size. Travelers provides information on MVR evaluation criteria and creating internal policies.
If you would like more information on the topics above, contact us or call us at 626-696-1897.
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