Parenting Advice That Can Save You Money on Professional Liability Insurance

Posted by & filed under BDP Blog.

By Robert J. Connor, JD, CIC
Senior Vice President, Chief Marketing Officer, Berkley Alliance Managers, a Berkley Company

October 4, 2021

Parents often struggle with ways to get their children to develop good habits that will serve them well later in life. There is the age-old debate of the carrot versus the stick and which one, reward or negative consequences works best.

At Berkley Design Professional, we come down squarely in the carrot column! We believe that positive reinforcement is the way to encourage our policyholders to develop beneficial risk management habits.

Berkley Design Professional policyholders can earn up to 40% in credits on their annual professional liability insurance policy. Yes, we did say 40%. How, you ask? I would be happy to explain.

Policyholders that use a limitation of liability clause in their contracts for professional services can earn up to a 25% premium credit each policy year. More specifically, we look at the percentage of fees that a design firm has under contracts with limitation of liability clauses with the liability limited to $250,000 or less and we take that percentage and cut it in half to arrive at the credit percentage–up to a maximum of 25% credit. For example, if a design firm has 40% of their fees derived from contracts that contain a limitation of liability clause limiting their liability to $250,000, then that firm would earn a 20% premium credit. It is that simple!

Read more »

Ask an Underwriter

Posted by & filed under Ask an Underwriter.

Why is an annual renewal application required?

Colleen Kennedy

Every policyholder is underwritten for acceptability and coverage terms whenever a new quote is offered. Data points from the application are entered into a rating model used for premium development. Updating the information on an annual basis ensures any changes in a policyholder’s risk profile are appropriately reflected in the renewal premium and coverages offered.

– Colleen Kennedy | Assistant Vice President, Senior Underwriter

Per Project Primary Limits Coverage

Posted by & filed under BDP Blog.

By Robert J. Connor, JD, CIC
Senior Vice President, Chief Marketing Officer, Berkley Alliance Managers, a Berkley Company

September 9, 2021

Berkley Design Professional has always strived to provide innovative coverages and Per Project Primary Limits is one of those coverages!

We believe this new way to look at and cover A&E professional liability risks can provide significantly increased value for our policyholder’s insurance dollar.

A few years ago we introduced Per Project Primary Limits in many different ways and thought this innovative coverage would become very popular. We were mistaken.

To figure out why we weren’t writing more of this game-changing coverage we contacted a number of our brokers. And the resounding answer–it was too confusing to explain to a client or prospect and they didn’t have the time to explain a coverage they probably would not sell. So, we put our heads together to see if we could provide a simpler way to describe this innovative approach to A&E professional liability insurance coverage. Here’s our updated, simpler explanation.

Read more »

Ask an Underwriter

Posted by & filed under Ask an Underwriter.

Does your policy provide worldwide coverage?

Our policy applies worldwide. In addition, firms with projects in other countries will also have a Limited Worldwide Coverage endorsement attached. The endorsement changes coverage when claims are brought against the policyholder outside of the U.S. and will reimburse the policyholder for damages and reasonable and necessary costs of investigating and defending any such claim.

– Debbie Ferris | Assistant Vice President, Senior Underwriter

Complimentary Webinar: A Design Professional’s Guide to Dispute Resolution

Posted by & filed under Events.

Presented by:
Ted D. Levin, Member, Clark Hill, LLP
Andrew D. Mendelson, FAIA, Senior Vice President, Chief Risk Management Officer, Berkley Design Professional

Wednesday, September 29, 2021
10:00 am – 11:30 am Pacific Daylight Time
1.5 AIA Learning Units
1.5 RCEP Professional Development Hours
Berkley DP policyholders who participate in this program can qualify for a 15% Risk Management Education credit. Contact your agent for further information*

This webinar has been recorded and is available on demand for Berkley Design Professional policyholders and our appointed agents and brokers on the BDP Risk® Learning Management System.

bdp Risk® lms login

In today’s complex design and construction environment, disputes will occur. Often the difference between success and failure is whether you have planned for the inevitable. This webinar will show you the root causes that frequently lead to disputes and arm you with strategies to mitigate those situations before the project even begins. You’ll learn why it’s important to define the dispute resolution process in your contract—and receive sample contract language you can begin using right away. You’ll gain insight from a typical dispute resolution flowchart and a deeper understanding of the mechanics, costs, pros, and cons of these common methods: step negotiations, mediation, litigation, and arbitration. Finally, you’ll learn how to identify when trouble is brewing on your project and get a roadmap of what to do next.

Read more »

Ask an Underwriter

Posted by & filed under Ask an Underwriter.

Do you offer coverage for a retiring professional?

We offer coverage for a professional retiring from his or her prior design firm. Our policy applies as Excess to the coverage provided to the retiring professional on their prior firm’s Professional Liability policy. In the event the prior firm does not maintain their coverage, our policy will apply Excess of the insured’s deductible. We are one of the few carriers to offer this coverage.

– Wayne Brockington | Senior Underwriter

You’re Never Alone

Posted by & filed under BDP Blog.

Free Claim Prevention Assistance

By Anthony Andersen
Senior Vice President, Professional Liability Claims Manager | August, 12, 2021

Having a Berkley Architects, Engineers & Consultants Professional Liability Policy means that you’re never truly alone. Even when you’re dealing with a situation that isn’t yet a formal claim, but is giving you an uncomfortable feeling that it may soon become one, Berkley Alliance Managers is here for you!

This post was updated on January 25, 2024. Find it here.

About the Author

Anthony has managed and handled claims for more than 25 years. He brings a wealth of A&E and construction related experience as well as knowledge regarding best practices and risk management. In his role as Professional Liability Claims Manager, Anthony provides managerial oversight to our claims staff. He received his Bachelors of Business Administration from Iona College. Anthony is based in Central Valley, New York.
Contact Anthony at [email protected].

Download the PDF

© 2021 Berkley Design Professional, a Berkley Company.
All Rights Reserved

Resilient design for a safer, more secure future

Posted by & filed under Published Articles.

By Andrew D. Mendelson | July 12, 2021

The consequences are undeniable. Global climate change has affected everything from the design and building of roads, bridges, homes and office complexes to the upgrading of our nation’s electrical grids and pipeline systems.

Unfortunately, the forecasts of many of the world’s leading climate research agencies are less than optimistic. According to NASA, the effects of global climate change are likely to continue “over this century and beyond” as the growing intensity and frequency of severe storm events, heat waves and wildfires increasingly wreak havoc on the nation’s infrastructure and ecosystem. In fact, the National Centers for Environmental Information, recently reported that 25 storm-related disasters in the U.S. caused more than a billion dollars in damages each from 2018 to 2019. Of these, the top five combined to cause more than $75 billion in damages.

As a result, a renewed emphasis has been placed on the creation of buildings and infrastructure that not only withstand severe natural events but remain habitable under extreme conditions. Even President Biden’s American Jobs Plan proposed wide-ranging initiatives promising that infrastructure projects developed under the plan would include funding to prevent, reduce and withstand the impacts of the climate crisis.

Read more »