Diane Mika Presenting at Society for Design Administration (SDA) EDConnect22

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Risk Management Essentials of the New Normal

Presented by:
Diane P. Mika, Vice President, Director of Risk Management Education, Berkley Design Professional

Tuesday, October 25, 2022

AEC firms are in a continual state of transition with new leaders emerging, senior leaders retiring, and executives planning for the future. The focus tends to be on improving core service offerings, often at the expense of the organization’s business aspects.  Whether working to develop next-generation talent inside a firm or positioning a company for potential acquisition, it is critical to evaluate and improve non-core areas, including professional development, strategic planning, marketing and business development, knowledge sharing, culture, and financial management. Attend this session and learn ideas for business improvement that will help develop your business acumen and position your firm for future success.

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The Benefits of Centralizing Your Claims and Risk Management Responsibilities

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By Mark A. Froehlich
Assistant Vice President, Senior Claims Examiner
Berkley Alliance Managers, a Berkley Company

July 14, 2022

Centralizing claims and risk management responsibilities for architectural and engineering firms provides significant benefits. It saves time, reduces cost and improves outcomes.

Based on decades of managing complex architects and engineers professional liability claims, I recommend designating a specific individual as risk manager to supervise all claims and potential risk issues for your firm — regardless of the size of your firm.

I have worked with many architectural and engineering firms and I can confirm that having a designated risk manager in place is more efficient. Some firms establish a standalone risk manager role, while others assign risk management responsibilities to a firm leader.

Project managers are necessary to communicate details of specific project issues, but they are often too busy managing projects to also effectively manage claims. Alternatively, assigning this role to a firm leader or another designated person allows more efficient communication with brokers, insurers and attorneys.

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Complimentary Webinar: Managing Risk through Effective Contracts

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Presented by:
Diane P. Mika, VP, Director of Risk Management Education, Berkley Design Professional
Andrew D. Mendelson, FAIA, Senior Vice President, Chief Risk Management Officer, Berkley Design Professional

Thursday, June, 2, 2022
10:00 a.m. Pacific Time/1:00 p.m. Eastern 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*

Your professional services agreement is an essential tool in managing your exposure to risk. An equitable contract fairly apportions risk, while an onerous contract can shift inordinate—and sometimes uninsurable—liability to you. The terms and conditions of the agreement establish the roles and responsibilities of the design professional and the client. The contract review and negotiation process provide you with an opportunity to set reasonable expectations with your client. And, in the event of a claim or dispute, your contract is the first piece of documentation the claims examiner will request.

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Ask an Underwriter

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What are deductible credits?

A method of recompense that rewards our policyholders for successful risk management procedures and/or a good loss history with BDP by reducing their deductible. Multiple deductible credits are available and may reduce the policyholder’s deductible obligation up to 50% or a maximum of $50,000. This benefit should be considered when comparing deductible options from other carriers.

AIA Contract Documents Free Webinar | Top Five Risk Avoidance Strategies for Contractors

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Presenter:
Andrew D. Mendelson, FAIA, Berkley Alliance Managers, SVP, Chief Risk Management Officer

Date: Thursday, November 18, 2021
Time: 1:00 – 2:00 p.m. EST

Construction is a risky business, especially in today’s climate.  Attend a free webinar where expert presenters will review the top 5 strategies contractors can utilize to avoid and mitigate risk on their construction projects.  Presenters will discuss the process for contractors to develop company policies, processes, and protocols to facilitate quality control and financial success, including how to establish a standard process for authorship, review, and approval of proposals and contracts.  The importance of working with design professionals and subcontractors who have experience in the project type; promoting a safe and collaborative work environment; and encouraging thorough communication and sharing of best practices will also be explored during this session.

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Parenting Advice That Can Save You Money on Professional Liability Insurance

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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!

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